Every once in a while, something important happens that is largely unseen and, in the end, mercifully uneventful. That’s the case with the reappointment of Neel Kashkari as president of the Federal Reserve Bank of Minneapolis.

Briefly, the Federal Reserve’s board of governors unanimously voted to reappoint 11 Federal Reserve bank presidents to new five-year terms that start in March of next year. There are 12 bank presidents, but the head of the Atlanta Fed has announced he will retire.

These regional presidents, including Kashkari, rotate as voting members on the Federal Open Market Committee, the governing group that sets U.S. monetary policy (think interest rates). Kashkari will serve as a voting member for a one-year term starting in January 2026.

The reappointments only drew attent

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