Minneapolis Fed Announces New President

The Federal Reserve Bank of Minneapolis today named Neel Kashkari its next president and CEO. Kashkari will replace outgoing president Narayana Kocherlakota on Jan. 1.

A former investment banker, Kashkari served in the Department of the Treasury from 2006 to 2009, where during the financial crisis he was a leading architect of the Troubled Asset Relief Program. After his time in Washington, he was an executive at the global investment firm PIMCO and the 2014 Republican nominee for governor of California.