Greenspan joins Pimco as advisor
Former Federal Reserve Chairman Alan Greenspan has signed on as a consultant to Newport Beach-based bond investment giant Pacific Investment Management, known as Pimco, the Wall Street Journal reported.
The arrangement will make Greenspan an advisor to Bill Gross, who manages the Pimco Total Return fund, the world’s largest bond fund.
Greenspan has refrained from making public comments on Fed interest rate policy since he left the central bank in January 2006, but he told the Journal “now that more than a year has elapsed, private conversations [about monetary policy] are appropriate.”
Neither Greenspan nor Pimco disclosed what the firm would be paying for the consulting arrangement.
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