Timeline Tuesday 2 June 1987

Events on Tuesday 2 June 1987 2

• 1893 – 1987 Andres Segovia (1893-1987) Died 2 June 1987, aged 94 Segovia was a Spanish virtuoso guitarist widely credited with establishing the classical guitar as a respected concert instrument. He inspired composers to write new works for the guitar and trained generations of players. He died in Madrid.
• 1987 Appointed Federal Reserve Chairman by Reagan President Reagan appoints Greenspan as Chairman of the Federal Reserve Board of Governors in June 1987, succeeding Paul Volcker. The appointment is welcomed by financial markets: Greenspan is seen as a pragmatic, data-driven economist with government experience and Wall Street credibility. He is confirmed by the Senate on 11 August 1987. Two months later, on 19 October 1987, Black Monday occurs — the largest single-day percentage drop in the Dow Jones Industrial Average in history. Greenspan's response to Black Monday defines his entire tenure.