Alan Greenspan was the leader of the US Federal Reserve from 1987 to 2006. He died at age 100 because of a sickness called Parkinson's Disease.

艾倫·格林斯潘在 1987 年至 2006 年期間擔任美國聯準會主席。他因患有帕金森氏症，於 100 歲時逝世。

Alan studied music first. Then he studied money and economics. He believed that the government should not control businesses. He worked for four US presidents.

艾倫最初學習音樂。隨後他研究金融與經濟學。他認為政府不應控制企業。他曾為四任美國總統工作。

For many years, the US economy grew fast. Prices stayed the same. He helped the banks during bad times. He also started to talk more about his plans in public.

多年來，美國經濟快速成長。物價保持穩定。他在經濟低迷時期援助銀行。他也開始在公開場合更多地討論他的計劃。

Later, there was a big money crisis in 2008. Many people said Alan made a mistake. He did not make enough rules for the banks. Alan said he was wrong about how banks work.

隨後，2008 年發生了巨大的金融危機。許多人認為艾倫犯了錯。他對銀行的監管不足。艾倫承認他對銀行運作方式的看法是錯誤的。

Alan Greenspan is a very important person in US history. People remember him for the good times in the 1990s and the bad crisis in 2008.

艾倫·格林斯潘是美國歷史上非常重要的人物。人們記得他，是因為 1990 年代的繁榮時期以及 2008 年的嚴重危機。

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

1987年至2006年領導美國聯準會的 Alan Greenspan，因帕金森氏症併發症，於100歲時逝世。

Greenspan's professional journey began with music studies at the Juilliard School before he shifted to economics at New York University. His views were strongly influenced by the philosophy of Ayn Rand, which promoted free-market capitalism and the importance of individual interest. These beliefs guided his work as Chairman of the Federal Reserve, a position he held under four different U.S. presidents.

Greenspan 的職業生涯始於在茱莉亞學院學習音樂，隨後他轉到紐約大學學習經濟學。他的觀點深受 Ayn Rand 哲學的影響，該哲學推崇自由市場資本主義以及個人利益的重要性。這些信念指導了他擔任聯準會主席期間的工作，他在四位不同的美國總統任期內均擔任此職。

Under his leadership, the U.S. experienced significant economic growth and stable prices, especially between 1991 and 2001. Greenspan was known for using specific financial strategies to reduce market instability, a method often called the 'Greenspan put.' Furthermore, he tried to make the Federal Reserve more transparent by releasing public statements, although he often used a complex and vague style of speaking known as 'Fedspeak' to avoid giving too many clues to investors.

在他的領導下，美國經歷了顯著的經濟增長和物價穩定，特別是在1991年至2001年之間。Greenspan 以使用特定的金融策略來減少市場不穩定而聞名，這種方法通常被稱為「Greenspan put」。此外，他嘗試透過發布公開聲明使聯準會更加透明，儘管他經常使用一種被稱為「聯準會話 (Fedspeak)」的複雜且模糊的表達方式，以避免向投資者提供過多線索。

However, his reputation changed after the 2008 global financial crisis. Many critics argued that the crisis was caused by a long period of deregulation and an over-reliance on the ability of banks to regulate themselves. During a later testimony before Congress, Greenspan admitted there was a flaw in his theory, acknowledging that he was wrong to assume that financial companies would always act in their own best interest to protect their stability.

然而，在2008年全球金融危機後，他的名聲發生了變化。許多批評者認為，這次危機是由長期的去監管化以及過度依賴銀行自我監管能力所導致的。在隨後的一次國會聽證會上，Greenspan 承認其理論存在缺陷，承認他錯誤地假設金融公司會始終為了自身最大利益而維護其穩定性。

Alan Greenspan remains a key figure in American economic history, remembered both for the wealth created in the 1990s and the regulatory mistakes that led to the 2008 recession.

Alan Greenspan 依然是美國經濟史上的一個關鍵人物，人們對他的記憶既包括他在 1990 年代創造的財富，也包括導致 2008 年經濟衰退的監管錯誤。

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。