Washington: Former Federal Reserve Chairman Alan Greenspan has passed away at the age of 100. NBC News reported that Alan Greenspan, who was hailed as a great Fed chairman when he retired in 2006 but faced heavy criticism following the severe financial crisis that occurred just two years later, died on Monday at the age of 100.

According to Thai News Agency, news reports, citing NBC reporter Andrea Mitchell and his wife, indicate that the highly influential former Federal Reserve chair, who served from August 1987 to January 2006, passed away peacefully at his home from complications of Parkinson's disease.

During his presidency, Mr. Greenspan guided the U.S. economy to its second-longest period of growth in the nation's history, lasting for a decade from March 1991 to March 2001. His decision to allow the economy to run its course, amidst pressure to raise interest rates to curb inflation-pressures that ultimately failed-was instrumental in creating years of wealth for the U.S. and earned him widespread acclaim in the economic world.

Furthermore, his era is remembered for his vision, in which he foresaw that the soaring productivity of the mid-1990s would be a key factor in successfully controlling and preventing inflation.