Money Decoded

The interest rates you pay on your credit cards and the value of your 401(k) were largely shaped by the decisions of one man over two decades. Alan Greenspan, the former head of the Federal Reserve, has passed away at 100, but the era of cheap borrowing and stock market booms he championed continues to influence how you spend and save today. Understanding his impact helps you navigate the financial world he essentially built, where debt is common and market swings are a daily reality for every household. What's Going On Alan Greenspan served as the Chairman of the Federal Reserve from 1987 to 2006, making him one of the most powerful people in economic history. The Federal Reserve, often just called "the Fed," acts as the central bank for the United States. Its primary job is to manage the supply of money and set the baseline interest rates that dictate how much it costs for you to borrow money for a car, a home, or a business loan. Greenspan became a household name becau...