Which central banker was Federal Reserve chair during the 1987 Black Monday crash?

Alan Greenspan was Federal Reserve chair during the 1987 Black Monday crash.

Greenspan became the Fed’s chairman in August 1987, succeeding Paul Volcker. Only about two months later, global stock markets suffered a dramatic collapse, with the Dow Jones Industrial Average falling 22.6% on October 19.

On the morning after the crash, the Federal Reserve issued a statement saying it was ready to serve as a source of liquidity to support the economic and financial system. The Fed also supplied reserves to the banking system. This response helped maintain market functioning and became an important example of central-bank crisis communication.

Greenspan remained chair until 2006 and later became one of the most prominent figures in modern central banking. He is sometimes confused with Volcker because Volcker led the Fed during the early 1980s, while Ben Bernanke chaired it during the 2008 crisis. The timing of each chair’s tenure makes the distinction clear.