- Neel Kashkari, a prominent business executive and one-time candidate for governor of California, has been chosen to be the head of the Federal Reserve’s regional bank in Minneapolis.
- STEVE YEATER/ASSOCIATED PRESS
Neel Kashkari, chosen to take the helm at the Federal Reserve Bank of Minneapolis next year, is a former banker, not an economist. His views on central bank policy aren’t publicly known.
But he’s been a prolific presence on social media, where he acknowledges no one fully understands the economy, defends Ben Bernanke and the bailout of AIG, and once opined the president should look beyond Janet Yellen and Larry Summers as options for Fed chief.
A selection of his comments on Twitter:
On the Economy
Interesting article. The economy is the only man made system, that I can think of, that we don’t fully understand. https://t.co/DTVz8ajFZT
— Neel Kashkari (@neelkashkari) October 25, 2015
On Fed Communication
Maybe Fed should just admit: “We will keep rates at zero until inflation is staring us in the face (and then we will freak out).” — Neel Kashkari (@neelkashkari) March 19, 2014
On Central Bank Independence
@lv_1 I think it’s better if the Fed sets mon. policy independently than trying to satisfy the whims of politicians.
— Neel Kashkari (@neelkashkari) July 30, 2013
On Monetary Policy
Sorry Japan, printing money is morphine. makes u feel better but doesn’t cure. BOJ Unveils Bold Bid to End Deflation http://t.co/9G9mnAOdOq — Neel Kashkari (@neelkashkari) April 5, 2013
On Ben Bernanke
.@ChuckLane1 nails it. “Right Fed chief at the right time” http://t.co/jwMiJjfonG — Neel Kashkari (@neelkashkari) October 15, 2015
On the Government Bailout of AIG
Only in America can a drunk guy drowning in a pool turn around and sue the lifeguard who saved him. Hank Greenberg should thank taxpayers. — Neel Kashkari (@neelkashkari) June 15, 2015
On the Unemployment Rate
Falling labor force particip makes the headline rate meaningless. “@AEI: Is the real US unemploy rate 11.3% or 7.5%? http://t.co/RZRVkB5Nlt”
— Neel Kashkari (@neelkashkari) May 10, 2013
On the Labor Market
I don’t say MUST READ often. But this is. Economist coverage of NBER paper on incentives and job market. Please read. http://t.co/3nZd2aA2Sd — Neel Kashkari (@neelkashkari) February 6, 2015
On Productivity
I think it is an open question whether @twitter / @facebook are net positive for global productivity. I have no such doubts about @uber.
— Neel Kashkari (@neelkashkari) January 21, 2015
On Who Should Be Fed Chief
I hope POTUS is casting wide net for Fed Chair. Summers/Yellen are highly qualified, but so are others who warrant consideration. — Neel Kashkari (@neelkashkari) July 31, 2013
On the State He Now Plans to Leave
This piece by @joelkotkin is spot on – and depressing. http://t.co/W3meRt4aaO
— Neel Kashkari (@neelkashkari) April 20, 2015
On Fine Dining
Went 2 Manila 2 try new @KFC Double Down Dog. Success! Tastes better than it looks. @scottlay http://t.co/OGOEiciqEg pic.twitter.com/YxYax2JcNH — Neel Kashkari (@neelkashkari) January 30, 2015
Related reading:
Neel Kashkari Named New Minneapolis Fed President
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10 November 2015 | 5:24 pm – Source: blogs.wsj.com
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