Neel Kashkari

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Neel Kashkari
Neel Kashkari.png
Occupation Interim Assistant Secretary of the Treasury for Financial Stability
Employer U.S. Treasury Dept.

Neel Kashkari is an American banker and politician who is currently the president of the Federal Reserve Bank of Minneapolis. He rose to prominence as a member of President George W. Bush’s administration by overseeing the Troubled Asset Relief Program (TARP) from 2008 - 2009. He took over the Minneapolis Fed presidency on Jan. 1, 2016, succeeding Narayana Kocherlakota, who left office at the end of 2015. In the new role, he participates in meetings of the Federal Reserve’s policy committee, though he will not be a voting member in 2016. [1]

He was designated as the interim assistant secretary of the Treasury for Financial Stability on October 6, 2008.

Background[edit]

Kashkari joined the Treasury Department in July 2006 as senior advisor to U.S. Treasury Secretary Henry M. Paulson, Jr. In that role, he was responsible for developing the President’s Twenty in Ten energy security plan, enhancing Treasury’s engagement with India, particularly in the area of infrastructure development, and developing and executing the Department’s response to the housing crisis, including the formation of the HOPE NOW Alliance, the development of the subprime fast-track loan modification plan, and Treasury’s initiative to kick-start a covered bond market in the United States. He became an assistant secretary between 2008 and 2009. After leaving the administration, Kashkari worked as a money manager for Pimco between 2009 and 2013.

He ran for governor of California in 2014 but lost to the incumbent, Jerry Brown.

Before joining the Treasury Department, Kashkari was a Vice President at Goldman, Sachs & Co. in San Francisco, where he led Goldman's IT Security Investment Banking practice, advising public and private companies on mergers and acquisitions and financial transactions.

Prior to his career in finance, Kashkari was a R&D Principal Investigator at TRW in Redondo Beach, California where he developed technology for NASA space science missions such as the James Webb Space Telescope.[2]

Education[edit]

Kashkari earned an M.B.A. from the Wharton School at the University of Pennsylvania; a Master of Science in Mechanical Engineering at the University of Illinois at Urbana-Champaign; and a Bachelor of Science in Mechanical Engineering at the University of Illinois at Urbana-Champaign.[3]

References[edit]