Neel Kashkari took office as president and chief executive officer of the Federal Reserve Bank of Minneapolis on January 1, 2016. In this role, he serves on the Federal Open Market Committee, bringing the Fed’s Ninth District’s perspective to monetary policy discussions in Washington. In addition to his responsibilities as a monetary policymaker, Kashkari oversees all operations of the bank, including supervision and regulation, and payments services. He is on the Board of the Economic Club of Minnesota and the Twin Cities PBS (TPT) President’s Council. Kashkari spoke to the Rotary Club of Downtown Sioux Falls on Monday, August 7th, 2017.
Kashkari began his career as an aerospace engineer at TRW in Redondo Beach, Calif., 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.
In January 2014, Kashkari was a gubernatorial candidate in the state of California, running on a platform focused on economic opportunity.
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.
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.
In January 2014, Kashkari was a gubernatorial candidate in the state of California, running on a platform focused on economic opportunity.
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.
Program Highlights August 7, 2017:
- The Federal Reserve System is a central bank of the United States. Congress created the Federal Reserve through a law passed in 1913, charging it with a responsibility to foster a sound banking system and healthy economy.
- This broad mission remains today for the Federal Reserve Bank of Minneapolis and the other 11 other Federal Reserve Banks, each serving a specific region of the country.
- The Minneapolis Fed, with one branch is Helena, Montana, serves the six states of the Ninth Federal Reserve District: Minnesota, Montana, North and South Dakota, 26 counties in northwestern Wisconsin and the Upper Peninsula of Michigan.
- Data from each region helps determine federal economic policy. Mr. Kashkari offered insight on "Too Big To Fail" banking, innovation, wage and population growth, immigration, minimum wage, and housing.
Rotary International is one of the premier service organizations in the world. The Rotary Club of Downtown Sioux Falls is among the largest 20 clubs in North America.
Next Week’s Program
House Representative Kristi Noem - Federal update with a focus on Healthcare, Immigration and Agriculture