Alan Greenspan has a new gig

Dr. Alan Greenspan, the former five-term Chairman of the Federal Reserve, has joined investment management firm Advisors Capital Management (ACM) as Economic Advisor.

Greenspan will provide economic and market valuation analysis to support the firm's top down investment approach to selecting sectors in the economy for investment.

"I am very excited to resume working with one of the towering members of the economics profession," said ACM's co-founder and chief investment officer, Dr. Charles Lieberman, who is a former Wall Street and Federal Reserve economist. "I am now please we can bring the benefit of his insight to our investment clients," he said.

Greenspan served as Chairman of the Board of Governors of the Federal Reserve for five terms, from 1987-2006. He presided as Chairman during several major global economic events, including two US recessions, the Asian financial crisis of 1997, the collapse of Long Term Capital Management and the Russian default in 1998 and the 9/11 terrorist attacks.

Since leaving his post, he started his own economic consulting firm, Greenspan Associates, LLC. He was hired by Pimco in 2007 to participate in their quarterly economic forums and speak with bond managers about Fed interest rate policy and then by Deutsche Bank, where he served as a senior advisor to its investment banking team and clients. He has also served as advisor to hedge fund Paulson & Co.