BERLIN — Helmut Schmidt, the chancellor who guided West Germany through economic turbulence and Cold War tensions, stood firm against a wave of homegrown terrorism and became a respected elder statesman, died Tuesday. He was 96.

Schmidt died at his house in Hamburg, according to German weekly Die Zeit, of which Schmidt was a co-publisher.

“We have lost a sharp-witted adviser, a trusted companion and a good friend,” Die Zeit said in a statement. “Until recently he contributed to the editorial team with his analyses, his commentaries and his interviews about current affairs.”

Schmidt’s friend and doctor Heiner Greten told Bild newspaper the former chancellor died with partner Ruth Loah and daughter Susanne at home with him.

“He died the way he wanted: in his bed at home and fully without pain,” Greten said.

Schmidt, a center-left Social Democrat, led West Germany from 1974 to 1982. He was elected chancellor by lawmakers in May 1974 after the resignation of fellow Social Democrat Willy Brandt, triggered when a top aide to Brandt was unmasked as an East German agent.

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