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US central banker misses policy meeting for new baby

·1-min read
Neel Kashkari missed the Federal Reserve policy meeting after the birth of his son
Neel Kashkari missed the Federal Reserve policy meeting after the birth of his son

When the Federal Reserve held its policy meeting this week, one member was missing for the happiest of reasons: a new baby.

Neel Kashkari, who heads the Fed's Minneapolis branch, was due to attend the deliberations Wednesday and Thursday of the Fed's policy-setting Federal Open Market Committee (FOMC), but San Francisco Fed President Mary Daly voted in his place.

"Neel and his wife welcomed a baby boy on Tuesday. He's on paternity leave," Minneapolis Fed bank spokeswoman Alyssa Augustine said in an email.

The FOMC, which meets eight times a year, is made up of the Fed board members and the presidents of five of the 12 Fed's regional banks who rotate onto the committee every year.

But each bank president has a designated alternate in case they cannot attend to cast their vote -- although it is a rare occurrence, the last time in 2018.

hs/caw