Alan Greenspan, who directed the United States Federal Reserve from 1987 to 2006, has died at the age of 100 due to complications associated with Parkinson's Disease.

曾在 1987 年至 2006 年間領導美國聯準會的艾倫·格林斯潘，因帕金森氏症相關併發症，於 100 歲時逝世。

The subject's professional trajectory was characterized by a transition from musical pursuits at the Juilliard School to economic scholarship at New York University. His intellectual framework was significantly influenced by the objectivist philosophy of Ayn Rand, which emphasized laissez-faire capitalism and the primacy of individual self-interest. This ideological foundation informed his subsequent tenure as Chairman of the Federal Reserve, where he served under four successive presidential administrations.

其職業軌跡呈現出從茱莉亞音樂學院的音樂追求，轉向紐約大學經濟學研究的過渡。他的思想框架深受安·蘭德（Ayn Rand）客觀主義哲學的影響，該哲學強調自由放任資本主義與個人自利的至高無上。這一意識形態基礎影響了他隨後擔任聯準會主席的任期，期間他先後為四任總統政府服務。

During his leadership, the United States experienced a period of substantial economic expansion and price stability, notably between 1991 and 2001. Greenspan's operational methodology involved the strategic deployment of liquidity to mitigate market volatility, a practice termed the 'Greenspan put,' which was utilized during the 1987 Black Monday crash and subsequent regional financial crises. Furthermore, he initiated a shift toward institutional transparency by introducing public statements regarding monetary policy, although he simultaneously employed a cryptic communicative style—colloquially termed 'Fedspeak'—to prevent market participants from speculating on specific policy shifts.

在其領導期間，美國經歷了一段顯著的經濟擴張與價格穩定期，特別是在 1991 年至 2001 年之間。格林斯潘的操作方法涉及策略性地部署流動性以緩解市場波動，這種做法被稱為「格林斯潘看跌期權」（Greenspan put），曾被用於 1987 年黑色星期一崩盤及隨後的區域金融危機。此外，他透過引入貨幣政策的公開聲明，推動機構走向透明化，但同時他採用了一種隱晦的溝通風格——俗稱「聯準會腔」（Fedspeak）——以防止市場參與者對具體政策轉向進行投機。

Notwithstanding his initial acclaim, the subject's legacy underwent a critical reassessment following the 2008 global financial crisis. Institutional critiques, including findings from the Financial Crisis Inquiry Commission, attributed the systemic fragility of the era to a prolonged period of financial deregulation and an over-reliance on the self-regulatory capacities of banking institutions. In subsequent congressional testimony, Greenspan conceded a flaw in his theoretical model, acknowledging that the assumption that financial entities would protect their own equity through self-interest was erroneous.

儘管最初備受讚譽，但在 2008 年全球金融危機後，其遺產經歷了批判性的重新評估。包括金融危機調查委員會在內的機構批評指出，當時的系統性脆弱歸因於長期的金融去監管以及對銀行機構自我監管能力的過度依賴。在隨後的國會證詞中，格林斯潘承認其理論模型存在缺陷，承認假設金融實體會透過自利來保護其自身權益是錯誤的。

Alan Greenspan remains a pivotal figure in American monetary history, remembered for both the prosperity of the 1990s and the regulatory failures that preceded the 2008 recession.

艾倫·格林斯潘仍然是美國貨幣歷史上的關鍵人物，人們記得他既是因為 1990 年代的繁榮，也是因為 2008 年經濟衰退前的監管失敗。