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Chairman Alan Greenspan of the Federal Reserve Board today issued the following statement:
William McChesney Martin served with notable distinction from 1951 to 1970 as the eighth Chairman of the Federal Reserve Board. He set a masterful example of leadership during his tenure, playing a key role in fostering an extraordinary period of growth and prosperity for the U.S. economy. Crucially, Chairman Martin moved the Federal Reserve from being an adjunct of the Treasury Department to the independent status we know today. His tenure as Chairman is unmatched in longevity, and his remarkable contributions to the entire Federal Reserve System were memorialized in the naming of a Federal Reserve Board building for him in 1974. I extend my deepest sympathy to his wife and family in their loss.
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