Kashkari in Minneapolis FR Bank |
S Neel Kashkari, a prominent Indian American business executive and unsuccessful candidate for California governor, has been chosen as head of the Federal Reserve`s regional bank in Minneapolis.Kashkari will succeed Narayana Kocherlakota, who will step down from the job ofMinneapolis Fed president Dec. 31. Kashkari, who was chosen by the regional bank`s board of directors as Kocherlakota’s successor, most recently served as managing director of PIMCO. A Republican, he ran for governor of California in 2014, losing to Democratic Gov. JerryBrown.Kashkari, 42, worked at the Treasury Department from 2006 to 2009. During the height of the financial crisis in 2009, he was tapped by then-Treasury Secretary Hank Paulson to oversee the Troubled Asset Relief Program, the $700 billion bailout program created byCongress.Kashkari at one point posed as a homeless man looking for work in Fresno, Calif., to underscore his message on inequality.
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