LONDON, Feb. 1 (UPI) -- Alan Greenspan may have retired as head of the U.S. Federal Reserve, but he won't stop working: He's agreed to advise Britain's Treasury.
Chancellor Gordon Brown announced the appointment just hours after Greenspan's 19-year tenure ended at the Fed. The position is unpaid.
Greenspan, who also is starting a consulting firm and who turns 80 next month, is expected to help Britain form policy on global economic change, the BBC reported.
Greenspan earned an honorary knighthood in 2002. As his last act as Fed chairman, Greenspan presided over a meeting Tuesday that hiked interest rates a quarter point -- the 14th straight increase. He is being succeeded by Ben Bernanke.
Brown called Greenspan "the world's greatest economic leader of our generation."
