The US Federal Reserve has expressed “deep sadness” at the death of former Fed chairman Alan Greenspan at the age of 100.

Greenspan’s wife of 29 years, NBC news correspondent Andrea Mitchell, said in a statement that he died of complications from Parkinson’s disease.

“Alan passed away at our home this morning at the age of 100 from complications of Parkinson’s disease,” Mitchell wrote on NBC’s website on Monday (US time).

“He was a giant of a man who helped shape the US economy for decades under presidents of both parties but was always honest in acknowledging his mistakes.”

The Fed praised Greenspan’s service, which included heading the Fed during the 2008 market crash.

“During his 18 years as chairman, he guided the Federal Reserve through periods of significant economic expansion as well as periods of considerable stress,” the US central bank said in a statement.

Greenspan was the 13th Fed chair between 1987 and 2006.

“He brought rigorous analytical discipline to monetary policymaking and helped establish the credibility that remains one of the Federal Reserve’s most important assets,” the statement said.

It said Greenspan’s contributions to monetary policy and economic thought had left a lasting mark on the Fed, the field of economics and on the US.