Neel Kashkari’s Take on Economy is Worth a Listen

September 15, 2016 No Comments
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By B Kyle

toc_eclusives50pxEarlier this week, I was listening to Neel Kashkari, President of the Federal Reserve, 9th District, when he spoke at the Greater Saint Paul Building Owners and Managers Association (BOMA) “Thought Leader Seminar.”

He just published a 5,000-word essay on why the recovery has been so slow.

Kashkari has been the president of the Federal Reserve, 9th District, since January of 2016. The District is headquartered in Minneapolis, and includes Minnesota, parts of Wisconsin, the Upper Peninsula of Michigan, South Dakota, North Dakota, and Montana.

The Federal Reserve is run by a board of governors and 12 Districts. Each District votes every third year. The 9th District will have voting power in 2017. The New York District (2nd District) is unique, with voting power every year, because it is through this district that open market operations and the buying/selling of bonds takes place.  Our 9th District represents fewer than 10 million people. The San Francisco District (12th District), by comparison, represents about 60 million people. “So we are fighting above our weight.”

  • Click here for a link to the video of his Q & A.

Take a listen. Kashkari answers, “why the collapse?” and “why the slow recovery?” and, even, “how can we prevent it from happening again?”pm_endmarkorg-e1320337214275


B Kyle is the president of the Minnesota Precision Manufacturers Association (MPMA) and is the Vice President of Strategic Development at Saint Paul Port Authority. She can be reached at blk@sppa.com.

 

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