Washington, D.C
Alan Greenspan, the legendary former Federal Reserve chair, dies
Former Federal Reserve Chair Alan Greenspan delivers the keynote address at the IMF Statistical Forum/Statistics for Policy Making in Washington, D.C., on Nov. 18, 2014. Greenspan died on Monday at age 100.
Paul J. Richards/AFP via Getty Images
hide caption
toggle caption
Paul J. Richards/AFP via Getty Images
Former Federal Reserve Chair Alan Greenspan delivers the keynote address at the IMF Statistical Forum/Statistics for Policy Making in Washington, D.C., on Nov. 18, 2014. Greenspan died on Monday at age 100.
Paul J. Richards/AFP via Getty Images
Sign up for the Planet Money newsletter. The world is confusing. Economics can help.
Alan Greenspan, who steered the Federal Reserve for nearly two decades, through some of the longest economic booms in U.S. history, has died. Greenspan died Monday at his home in Washington. He was 100.
Greenspan was the rare celebrity among central bankers, lionized for his economic stewardship in the 1990s. At a time when it seemed every barbershop had a television tuned to the stock market channel, ordinary Americans hung on the Fed chairman’s every word.
His reputation was tarnished, however, by the global financial crisis which struck a decade later.
Greenspan liked to write speeches in the bathtub, but it was his listeners who were sometimes left feeling underwater by the unfamiliar dialect known as “Fedspeak.”
Greenspan later acknowledged that he would deliberately garble his syntax to avoid saying anything that might move financial markets.
A notorious exception came in 1996, when Greenspan seemed to suggest that stock prices might be getting ahead of themselves.
“How do we know when irrational exuberance has unduly escalated asset prices,” he asked during a speech at the American Enterprise Institute.
The warning that exuberant investors might not be quite rational sent temporary shivers through global stock markets. But Greenspan’s own stock continued to climb.
Fed Chair Alan Greenspan testifies before the Joint Economic Committee in Congress in Washington, D.C., on June 17, 1999.
Tim Sloan/AFP via Getty Images
hide caption
toggle caption
Tim Sloan/AFP via Getty Images
Fed Chair Alan Greenspan testifies before the Joint Economic Committee in Congress in Washington, D.C., on June 17, 1999.
Tim Sloan/AFP via Getty Images
Greenspan dabbled in jazz
He was married to NBC news anchor Andrea Mitchell, who anounced his death in a statement, and the two made a somewhat unlikely power couple. Comedian Jay Leno once joked during a White House Correspondents Association dinner that Mitchell, not then-First Lady Hillary Clinton, was married to “the most powerful man in the world.”
Greenspan was a talented jazz musician who studied clarinet and saxophone at Juilliard. But it was economics that made him a rock star and a symbol of the widely-shared prosperity at the end of the 20th century.
A master of monetary policy, Greenspan led the central bank under four different presidents, beginning in 1987.
Much of his tenure was marked by falling unemployment. Traditionally, central bankers respond to low unemployment by raising interest rates to ward off inflation. But Greenspan broke with that tradition and kept borrowing costs low.
“He was willing to watch and wait as the unemployment rate drifted lower and lower and lower and lower, and we still had no inflation,” recalled Princeton economist Alan Blinder, who served under Greenspan on the Fed’s governing board.
Former Fed Chair Alan Greenspan and his wife television journalist Andrea Mitchell attend a reception with Japanese Prime Minister Yoshihiko Noda at the Japanese embassy in Washington, D.C., on April 29, 2012.
Nicholas Kamm/AFP via Getty Images
hide caption
toggle caption
Nicholas Kamm/AFP via Getty Images
Former Fed Chair Alan Greenspan and his wife television journalist Andrea Mitchell attend a reception with Japanese Prime Minister Yoshihiko Noda at the Japanese embassy in Washington, D.C., on April 29, 2012.
Nicholas Kamm/AFP via Getty Images
Greenspan oversaw an economic boom
Greenspan’s gamble with low rates paid off, and the economy kept booming for a decade, although critics argue his easy-money policies also helped inflate the dot-com bubble and later fueled the subprime mortgage meltdown.
In addition to low interest rates, Greenspan pursued a light touch on regulation, refusing to use the Fed’s powers to crack down on risky lending. His libertarian philosophy was shaped in part by the novelist Ayn Rand.
Greenspan had been a member of Rand’s inner circle, contributing chapters to her book, Capitalism: The Unknown Ideal. When Greenspan joined the Ford administration as an economic adviser, Rand attended his swearing-in ceremony.
“Greenspan said that Ayn Rand put the moral foundation under capitalism for him,” said Rand’s biographer, Anne Heller.
Greenspan believed bankers didn’t need heavy-handed regulation because their own self-interest would prevent them from taking undue risks. Only after risky banking helped trigger the global financial crisis in 2008 — two years after he left the Fed — would Greenspan sheepishly admit that he’d been wrong.
“I was shocked because I had going for 40 years or more with very considerable evidence that it was working exceptionally well,” Greenspan told a congressional committee investigating the financial meltdown.
Then-President Bill Clinton talks with then-Fed Chair Greenspan during the receiving line at the White House in Washington, D.C., on Dec. 31, 1999.
Tim Sloan/AFP via Getty Images
hide caption
toggle caption
Tim Sloan/AFP via Getty Images
Then-President Bill Clinton talks with then-Fed Chair Greenspan during the receiving line at the White House in Washington, D.C., on Dec. 31, 1999.
Tim Sloan/AFP via Getty Images
Greenspan long advocated for a light regulatory touch
The idea that bankers will sometimes take dangerous risks if they’re allowed to should not have come as a surprise to Greenspan, however.
Decades earlier, he’d played a bit part in the savings-and-loan crisis, which was a kind of dress rehearsal for the 2008 financial crisis.
As a private economist in the 1980s, Greenspan provided a testimonial for what he called “seasoned and expert” management at Lincoln Savings and Loan, in an effort to ward of regulation of the thrift.
Lincoln later collapsed, costing taxpayers billions. And its boss, Charles Keating, went to prison for fraud.
Economist Vincent Reinhart said it took courage for Greenspan to acknowledge, however belatedly, that self-interest is not always enough to protect taxpayers and investors from the risky behavior of bankers.
“For Alan Greenspan to say, ‘Well, maybe markets don’t always get it right,’ is a reflection on his entire career, not just his tenure at the Fed,” Reinhart said.
Ultimately, Greenspan’s will be remembered as both a maestro of monetary policy and a reluctant regulator. His legacy is shaped by the boom he fostered, and by the bust he failed to prevent.
John Ydstie contributed to this report.
WASHINGTON (7News) — Some D.C. residents told 7News they are fed up with the no-parking signs that have been added in front of their homes.
For the first time in 70 years, the view outside Anita Marsh’s home has changed.
“It’s very emotional,” said Marsh. “To be in a place where there’s no access to my door, no one can legally park for me to enter and exit my home. It’s frustrating, but more importantly, it’s upsetting. It’s very upsetting. I find it heartless.”
ALSO READ | DC considers tighter rat control restrictions after poison, tracking and trash concerns
Video from Marsh showed what she woke up to on Monday morning. She said the District Department of Transportation (DDOT) installed no parking signs in front of her home.
“How do I walk? How do I get into my house? I’m not very ambulatory,” said Marsh. “I have mobility challenges. So what happens?”
Neighbors about a mile away, over on Kimi Gray Court, reached out with the same frustrations. That’s where 7News met Aaron Harris.
“DDOT put these signs up, these signs, and they are ticketing people who are trying to park in front of their home because they have multiple cars,” said Harris.
Both neighborhoods feel that access to their home will now cost them.
“I’m very nervous because also financial impact is on a retiree,” said Marsh.
7News also got a call from businesses on MLK Jr. Avenue in Anacostia who said DDOT hit them with changes, too. 7News met Ronald Moton in front of his Gogo museum.
“They bring a bus lane without talking to us and take away 29 parking spaces,” said Moton.
Moton said business owners and customers have been hit with $200 tickets.
“This is a community trying to build itself up and survive,” said Moton. “You cannot come and dump stuff like this on us without talking to us.”
“We can’t afford to pay $90 a week or $180 or $270 per week because we’re in violation in front of a property that wasn’t zoned this way,” said Harris. “At least we didn’t know it was owned that way until the signs went up and they started getting ticketed.”
“I’m very scared. I’m very scared. And very upset,” said Marsh. “I’m not going to be able to stay in my house. Then I’m going to be forced to go elsewhere. Because I’m not going to be able to enter and exit my house.”
7News reached out to DDOT and Councilman Charles Allen, who chairs D.C.’s Transportation and Environment Committee, and asked about the no-parking signs community members feel came out of nowhere. 7News has not heard back from either yet.
New office in Tysons, Virginia, brings the firm’s design-build expertise and national resources closer to clients across the capital region
TYSONS, Va., July 14, 2026 /PRNewswire/ — ARCO Design/Build, one of the nation’s leading design-build construction firms, today announced the opening of a new office in Tysons, Virginia, placing the firm in the heart of the Washington, D.C. market and directly on the Capital Beltway. The office expands on the presence ARCO has built in the region over many years and brings the firm’s people, design-build expertise, and national resources closer to existing and prospective clients across the District and Northern Virginia.
A significant share of ARCO’s work in the region has originated in the D.C. area. The Tysons office is the natural next step in the firm’s growth, and a commitment built on established relationships with a track record of completed work. With many of those clients headquartered in the capital region and building across multiple geographies, the Tysons office allows ARCO to be closer to decision-makers, active pursuits, and the opportunities shaping the market today.
The office is further strengthened by local leadership, including Drew Enstice, Vice President, whose experience in the region supports ARCO’s continued growth across the Washington market.
“The Washington region has been central to our growth, and the Tysons office lets us meet it with our full strength,” said Aaron Weir, President, ARCO Design/Build. “We’re building on the relationships and successful work we’ve already established here, while bringing the resources of a national builder to a market with growing opportunity across advanced manufacturing, food and beverage, life sciences, aerospace, defense, and other complex sectors that demand precision.”
ARCO’s integrated design-build approach brings design, engineering, procurement, and construction together under a single accountable team from the outset. The firm delivers cost certainty, compressed schedules, and a single point of responsibility that matter most on complex, regulated, and mission-driven facilities.
About ARCO Design/Build
ARCO Design/Build is a national design-build construction firm delivering the strength, resources, and expertise of an award-winning national builder combined with the responsive, personalized service of a local partner. With more than 50 offices and over 1,800 associates across the country, ARCO provides comprehensive design, engineering, and construction services across various industries such as industrial, e-commerce, logistics, data centers, commercial, life sciences, defense and aerospace manufacturing, healthcare, food and beverage, retail, and light manufacturing facilities. ARCO is a 100% employee-owned company through its ESOP. To learn more, visit arcodb.com.
SOURCE ARCO Design/Build
Food and Friends expects to double its impact with a $30 million addition and renovation.
This page contains a video which is being blocked by your ad blocker.
In order to view the video you must disable your ad blocker.
Nonprofit donating two million meals each year is now set to expand
Food and Friends prepares over two million meals each year for people in the D.C. region who are battling serious illnesses. The organization expects to double its impact with a $30 million addition and renovation.
The first shovels went into the ground Monday at Food and Friends’ headquarters in Northeast D.C.
The 17,000-square-foot expansion will dramatically impact how many people the organization can serve on a daily basis, the nonprofit said.
“The demand has been so high, and so we need more room. And we’re really, really excited to be kicking that off,” Food and Friends CEO Carrie Stoltzfus said. “We’re going to be able to more than double what we do.”
Food and Friends currently packages roughly 7,100 meals per day and delivers throughout the D.C. region in an area approximately the size of Connecticut.
Staff described the current building as bursting at the seams, with many rooms doubling as food storage.
“Most of the expansion space will be for food production and food storage because that’s really what drives everything else that we do and why we’re all here,” Stoltzfus said.
The new building, set to be completed in May, will include a state-of-the-art kitchen. The current kitchen will be transformed into a chilled food packing room.
The expansion also adds private nutrition counseling rooms for clients who are battling diseases such as cancer, AIDS, renal failure and other illnesses.
All clients of Food and Friends are referred to the program by healthcare providers. Dietitians and chefs have developed 11 meal types tailored to specific health needs.
Rebecca Kahn, director of nutrition services at Food and Friends, said its food is medicine, leading to better health outcomes.
“Hospital visits are going down as compared to before getting our services. Clients are saving money on healthcare costs,” she told WTOP.
Loris Adams is a volunteer and a former client who received meals from Food and Friends while she battled ovarian cancer. She’s thrilled with the expansion.
“People like me, people like your neighbors have an opportunity to be fed and nourished — body, soul and spirit — while they’re going through really hard and difficult times,” she said after the groundbreaking.
Get breaking news and daily headlines delivered to your email inbox by signing up here.
© 2026 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.
-
Alabama5 minutes agoScavenger hunt on the U.S.S. Alabama teaches kids navigation skills
-
Alaska11 minutes agoIllegal harvest of Yukon sheep leads to $100,000 in fines against Alaskan hunters
-
Arizona17 minutes agoAM Roundup: Murder victim’s mother speaks, deadly Scottsdale crash, AZ CD 1 race
-
Arkansas23 minutes agoThis Private School Had Students Scrub Floors and Attack a Fellow Classmate. The State Still Funds It.
-
California29 minutes agoCalifornia man who killed estranged wife’s lover while they slept sentenced
-
Colorado35 minutes ago10 Colorado sporting events that speak to Colorado’s outdoors culture
-
Connecticut41 minutes agoEarly morning forecast for July 15
-
Delaware47 minutes agoHow a Delaware Chinese restaurant became a musical sensation
