Which 1987 U.S. policy maker was Federal Reserve chair when Black Monday struck?

Alan Greenspan was Federal Reserve chair when Black Monday struck in 1987.

Greenspan became chair of the Federal Reserve Board on 11 August 1987, succeeding Paul Volcker. Just over two months later, global markets entered the Black Monday crisis, and the Dow Jones Industrial Average fell 22.6% on 19 October.

On the following day, Greenspan issued a statement that the Federal Reserve stood ready to serve as a source of liquidity to support the economic and financial system. That communication helped reassure markets and became an important example of modern central-bank crisis messaging.

Greenspan remained chair until 2006 and later became one of the most prominent figures in debates about monetary policy and financial regulation. Paul Volcker led the Fed before him, while Ben Bernanke succeeded him in 2006, so all three names are connected to different periods of Federal Reserve history.