It's an honor to serve on the board of directors for the Federal Reserve Bank of St. Louis. Our role is similar to a corporate board, but with some additional responsibilities that make it a particularly interesting and challenging opportunity.
Our charge is unique—to help keep our nation's banking system running smoothly and our economy moving ahead. As you might expect, we review the Bank's strategic direction, performance metrics and budget. As business leaders, we also share our knowledge of economic trends in our own industries and communities.
Our board members come from industries throughout the Eighth District, which includes Arkansas and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee. The current board is comprised of leaders in the fields of legal services, health care, energy, retail and manufacturing—as well as banking. Each of the St. Louis Fed's three regional branches—in Little Rock, Louisville and Memphis—also has an advisory board, broadening our industry representation to also include education, natural resources, real estate, plastics, maintenance and shipping.
Together, we bring to the table our knowledge of local credit needs, plans to expand or contract businesses, status of the workforce, condition of public works, upcoming capital investment and other factors that influence the economy. We advise James Bullard, president of the Federal Reserve Bank of St. Louis, so that he can accurately represent our region in Washington, D.C. It's an honor to be part of the Federal Reserve System that ensures all of America is considered as part of national monetary policy decisions.
We are the representatives who have the responsibility to share our communities' concerns with policymakers and who have the opportunity to bring economic information back to our neighbors. I hope that you'll take some time to get to know us in the following pages and that you'll reach out to us to help us better represent you and the rest of the Eighth District.
Steven H. Lipstein
President and CEO