The
chairman of the Federal Reserve Board of Governors since 1987, when he was
appointed by President Ronald Reagan to succeed Paul Volcker. Greenspan was a
private economic consultant from 1954 until 1987, excluding a 3-year period
when he was Gerald Ford’s chairman of the President’s Council of Economic
Advisors. He chaired a bipartisan National Commission on Social Security Reform
from 1981 until 1983.