Greenspan is the first person to have been appointed to five consecutive terms as the Fed's chairman. He became known for being adept at guiding the Fed's board to consensus on policy issues and his public comments were regarded as so powerful that they could send financial markets sharply in any direction.
He was widely perceived as an inflation hawk, often criticized for focusing more on controlling prices than on achieving full employment. Greenspan also became infamous for his often technical and cautiously worded speeches, and reportedly once mocked his own speaking style during a 1988 speech in which he said, "I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I said."