Shannon Newton, president of the Arkansas Trucking Association, has been named to the Transportation Industry Council of the Federal Reserve Bank of St. Louis.
The St. Louis Fed created four District Industry Councils in 2006, each designed to provide the Fed with important feedback about economic conditions in key Eighth District industry sectors.
The members’ observations, along with the economic data developed through the Federal Reserve Board’s Beige Book and meetings of the Reserve Bank’s board of directors, help ensure conditions in Main Street America are represented in monetary policy deliberations in Washington.
Each council is supported by one of the St. Louis Fed’s four offices: St. Louis (real estate); Little Rock, Ark. (agribusiness); Louisville, Ky. (health care); and Memphis, Tenn. (transportation).
The councils meet twice a year.