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Neel Kashkari Named Next Minneapolis Fed President

  • Kashkari is a former Goldman Sachs and Pimco executive
  • Made unsuccessful run in 2014 California governor's race
PIMCO's Neel Kashkari
Photographer: Jin Lee/Bloomberg
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Neel Kashkari, a former financier who managed the U.S. Treasury’s $700 billion rescue of banks in the 2008 crisis, was named the next president of the Federal Reserve Bank of Minneapolis.

Kashkari’s resume includes stops at Goldman Sachs Group Inc. and Pacific Investment Management Co., and a failed run for governor of California last year. At the Treasury, he was Secretary Henry Paulson’s key aide in overseeing the Troubled Asset Relief Program, or TARP. Kashkari will take over from Narayana Kocherlakota on January 1, 2016, according to a statement Tuesday from the Minneapolis Fed.