Alan Greenspan's Response to Black Monday Defined His Legacy as Fed Chair
On October 19, 1987 (Black Monday), the Dow Jones Industrial Average fell nearly 23%, marking its worst one-day percentage drop. Alan Greenspan, then newly appointed Federal Reserve chair, acted swiftly by injecting liquidity and lowering interest rates to stabilize markets.
Topics: Alan Greenspan Black Monday (1987) Federal Reserve market crash response