Former Federal Reserve Chairman Alan Greenspan, who passed away Monday at the age of 100, was one of the most influential figures in American economic history. But there was far more to the man than interest rates and monetary policy.
Before turning to economics, Greenspan was a devoted fan of Benny Goodman and spent two years studying clarinet at New York’s Juilliard School. He also played saxophone with a touring jazz band before eventually shifting his focus to finance.
On the personal side, Greenspan and NBC News correspondent Andrea Mitchell had a lengthy courtship — the two dated for 12 years before finally tying the knot in 1997.
Greenspan became well known for his deliberately vague way of speaking. He once acknowledged his own style with a wry warning: “I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I said.”
His first wife introduced him to novelist Ayn Rand, the author of “Atlas Shrugged” and champion of individualist philosophy. The two developed a close friendship that lasted for years.
Perhaps his most unusual habit was treating his bathtub as a second office. Greenspan said his best thinking happened during his morning baths, which could stretch on for as long as two hours. He used the time to read reports and draft speeches. As he wrote in his memoir, “Immersed in my bath, I’m as happy as Archimedes as I contemplate the world.”
After stepping down from the Federal Reserve, Greenspan landed a remarkable book deal — Penguin Press paid $8.5 million for his memoir, which ranked as the second-largest advance ever paid for a non-fiction book at the time.
In his final year leading the Fed, Greenspan earned a salary of approximately $180,000.
