Allen Named to Federal Reserve Bank Industry Council

Meredith B. Allen, President & CEO, has been named to the Agribusiness 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 regarding economic conditions within a key Eighth District industry sector. The members’ observations – along with the economic data and information developed through the Federal Reserve’s Beige Book, the St. Louis Fed’s Burgundy Books and meetings of the Reserve Bank’s boards of directors – help ensure that conditions of Main Street America are represented in monetary policy deliberations in Washington. Each council is based in one of four of the Reserve Bank’s offices: Memphis (transportation), St. Louis (real estate), Little Rock (agribusiness) and Louisville (health care). The councils meet twice a year. The St. Louis Fed is one of 12 regional Reserve banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation’s central bank, the Federal Reserve System formulates U.S. monetary policy, regulates state-chartered member banks and bank holding companies, provides payment services to financial institutions and the U.S. government, and promotes community development and financial education.