Shannon Newton, president of the Arkansas Trucking Association in Little Rock, has been named to the Transportation Industry Council of the Federal Reserve Bank of St. Louis.
In 2006, the St. Louis Fed created four District Industry Councils, to provide feedback to The Fed regarding economic conditions in industry sectors of the Eighth District.
With economic data developed in the Federal Reserve Board’s Beige Book and the member observations, conditions in main street America are represented in monetary policy in Washington, D.C.
Each council is supported by one of the St. Louis Fed’s four offices located in St. Louis, Mo.; Little Rock, Ark.; Louisville, Ky.; and Memphis, Tenn. Each council meets twice a year. The St. Louis office handles real estate, Little Rock takes care of agribusiness, Louisville is responsible for healthcare and Memphis oversees transportation.