Neel Kashkari took office as president and CEO of the Federal Reserve Bank of Minneapolis on Jan. 1, 2016, following a national search conducted by the Bank’s independent board of directors.
In this role, he serves on the Federal Open Market Committee, bringing the Ninth District’s perspective to monetary policy discussions in Washington, D.C. In addition to his responsibilities as a monetary policymaker, Kashkari oversees all operations of the Bank, including supervision and regulation, Treasury services, and payments services.
Kashkari leads the Bank’s many initiatives. Among them, he was instrumental in establishing the Opportunity & Inclusive Growth Institute, whose mission is to ensure that world-class research helps to improve the economic well-being of all Americans.
In addition, he directed Minneapolis Fed economists to examine Minnesota’s education achievement gaps. This research revealed deep, persistent disparities across race, ethnicity, and socioeconomic status, and has helped inform efforts to close these gaps and ensure every child receives a quality public education. This work supports the Fed’s mandate to achieve maximum employment, with education being a key to obtaining a good job.
Under Kashkari’s leadership, the Minneapolis Fed also released an action plan on ending too big to fail, which calls for tighter bank regulations to avoid future taxpayer bailouts of large financial institutions.
Committed to increasing transparency at the Fed, Kashkari has published in the Wall Street Journal, Washington Post, and Financial Times and is active on Twitter and Instagram. He serves on the boards of the Economic Club of Minnesota and the Urban Institute, and is a member of the Aspen Economic Strategy Group.
Kashkari began his career as an aerospace engineer at TRW (now Northrop Grumman) in Redondo Beach, California, where he developed technology for NASA space science missions. Following graduate school, he joined Goldman Sachs in San Francisco, where he helped technology companies raise capital and pursue strategic transactions.
From 2006 to 2009, Kashkari served in several senior positions at the U.S. Department of the Treasury. In 2008, he was confirmed as assistant secretary of the Treasury. In this role, he oversaw the Troubled Assets Relief Program (TARP) during the financial crisis. Kashkari received the Alexander Hamilton Award, the Treasury Department’s highest honor for distinguished service.
Following his tenure in Washington, Kashkari returned to California in 2009 and joined PIMCO as managing director and member of the executive office. He left the firm in 2013 to explore returning to public service and, in 2014, ran for governor of California on a platform focused on economic opportunity.
Raised in Ohio, Kashkari earned his bachelor’s and master’s degrees in mechanical engineering at the University of Illinois at Urbana-Champaign and his MBA from the Wharton School at the University of Pennsylvania.
He lives with his wife, Christine, children, Uly and Tecumseh, and Newfoundland dog, Webster, in Orono, Minnesota.
Short Kashkari bio for public introductions [PDF]
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