Every day, vital conversations happen all around the Eighth Federal Reserve District. Businesspeople, educators, farmers, job-seekers, homeowners, civic leaders and more have important things to say about the economy. The St. Louis Fed is listening.
Here, current and former St. Louis Fed directors share their perspectives on how the organization amplifies the voice of Main Street — serving as an active partner in communities big and small.
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Robert Martinez owns and operates a livestock production business in Sevier County, Arkansas. He joined the Fed’s Little Rock board of directors in 2013. When asked about board meetings, he says a diverse group of leaders acts as “the eyes and ears” so that monetary policymakers have “information from every corner of the United States.”
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Kathy Mazzarella chairs the St. Louis Fed’s board of directors and is chairman, president and CEO of St. Louis-based Graybar. “Our responsibility on the board is to share the input from not only our industries, but from our communities,” she says.
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Jim McKelvey is the founder and CEO of Invisibly. He also co-founded Square, Third Degree Glass Factory, Cultivation Capital and LaunchCode. Now a member of the St. Louis Fed’s board of directors, he says, “The biggest misconception that I had when I came into the Fed was that it was more focused on Washington and Wall Street.” In fact, he says, the Fed does work that impacts everyday people.
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Sadiqa Reynolds is president and CEO of the Louisville Urban League, an organization focused on changing community outcomes. As a member of the Fed's Louisville Branch board of directors, she values the opportunity to help economic experts see how the Fed’s work can move the needle for the disenfranchised and disadvantaged.
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Ray Dillon is the former chairman of the Fed's Little Rock Branch board of directors and former CEO of Arkansas-based Deltic Timber Corp. He now serves on the St. Louis Fed’s real estate council, one of four industry-based advisory councils. Dillon respects how much attention is paid to gathering accurate data — “real data from the grassroots level of this country” — to help form monetary policy.
RUN TIME: 1:12
Rural communities matter to Brice Fletcher, the chairman of First National Bank of Eastern Arkansas. He brings the perspective of small-town America and agricultural areas to the Fed's Memphis Branch board of directors. “I think they need a voice,” he says. “It’s rewarding to be able to take their stories to the Fed.”
These are part of a recurring series on our On The Economy blog, featuring perspectives from former St. Louis Fed directors.
Originally published March 9, 2017
Jones served as a director from 2008 to 2013. As chairman and CEO of Old National Bancorp — a community bank headquartered on Main Street in Evansville, Ind. — Jones shared how he was able to gather insights from Main Street America and bring these to the Federal Reserve Bank.