The world number 24, who had been ahead since the second round, led Rory McIlroy by three shots overnight.
McIlroy, chasing his first Green Jacket to complete the Grand Slam, faded with a two-over 74, while Reed parred the last to shoot 71 and win on 15 under.
Fowler (67) ended second, one ahead of Spieth, who had nine birdies in a 64.
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