Who was chairman of the U.S. Federal Reserve during the October 1987 stock-market crash?

Alan Greenspan was chairman of the U.S. Federal Reserve during the October 1987 stock-market crash. He had taken office on August 11, 1987, succeeding Paul Volcker, and was chairman when markets plunged later that year.

On October 19, 1987, often called Black Monday, the Dow Jones Industrial Average fell 22.6 percent in a single session. The decline followed substantial volatility in international markets and was worsened by computerized trading strategies, portfolio insurance, and concerns about economic and trade conditions.

Greenspan responded with a statement that the Federal Reserve was ready to serve as a source of liquidity to support the financial system. The Fed did not prevent the crash itself, but its response helped reassure banks and markets. Greenspan remained chair through later episodes, including the 1990s expansion and the 2000–2002 dot-com crash, which is why his name is sometimes incorrectly attached to those events instead.