Neel Kashkari has been president and chief executive officer of the Federal Reserve Bank of Minneapolis since January, 2016. In this role, he serves on the Federal Open Market Committee and was instrumental in establishing the Opportunity & Inclusive Growth Institute to promote greater economic equity. He’s also been outspoken about the need to address the “too big to fail” problem. Previously, he served in several senior positions at the U.S. Department of the Treasury, including overseeing the Troubled Asset Relief Program, or TARP, during the financial crisis.
More About Neel Kashkari
"'Right now, everyone is laser-focused on when is the Fed going to raise interest rates and start the normalization process, for good reason. But there are a whole host of economic challenges we face as a country, and I want to pay attention to all of that,' Mr. Kashkari said."
Neel Kashkari argues, “We are safer than we were 10 years ago simply because the biggest banks do have more capital, more of their own skin in the game to protect taxpayers against their own mistakes than they had before the crisis.”
In the latest episode of his podcast Macro Musings, David Beckworth interviews Neel Kashkari, President and Chief Executive Officer, and Ron Feldman, Vice President and Chief Operating Officer of the Federal Reserve Bank of Minneapolis.
Neel Kashkari states "I’ve been consistent for the last three years that I think we need to be tightening regulations on the biggest banks because I do still think they pose a risk to the economy. And so I want to try to push back against moves in the opposite direction."
"But until inflation or inflation expectations get meaningfully higher, the Fed should allow the economy to continue to strengthen, so as to allow as many Americans as possible to participate in the recovery."
Neel Kashkari says, “What I’m paying attention to is, are we overdoing it with our interest rate increases?”
"'I think we need to work very hard to protect against an '08-type scenario, but if markets correct, it's not the Fed's job to protect investors from losses,' said Kashkari, a voting member of the policymaking Federal Open Market Committee."
Minneapolis Federal Reserve President Neel Kashkari invites Bloomberg's Joe Weisenthal to his home in Minnesota to grill steaks and talk monetary policy.