Greenspan goes out in style

WASHINGTON — Alan Greenspan, a die-hard sports fan as well as chairman of the Federal Reserve, got a baseball glove on his last day at the central bank. And a standing ovation.

In return, Greenspan provided a pep talk, urging Fed employees to keep up the good fight to protect the value of the dollar against the ravages of inflation.

“We have a very special mission,” Greenspan told about 1,500 employees who filled the two-story marble atrium at the Federal Reserve headquarters.

“We are in charge of the nation’s currency, and the central bank, because of that, is involved in everyone’s daily lives. We are the guardians of their purchasing power,” Greenspan said.

At an earlier luncheon, Greenspan had told colleagues that he would be looking on from the sidelines and cheering their efforts to do “extraordinary things.”

Greenspan will turn 80 this month, but has no plans to retire. Instead, he’ll run his own economic consulting firm — Greenspan Associates.