First appointed Federal Reserve chairman by President Ronald Reagan in August 1987 , he was reappointed at successive four-year intervals until retiring on January 31 , 2006 , after the second-longest tenure in the position ( behind William McChesney Martin ) .
Greenspan was first appointed Federal Reserve chairman by President Ronald Reagan in August 1987 . He was reappointed at successive four-year intervals until retiring on January 31 , 2006 after the second-longest tenure in the position .