Senior Vice President Douglas Scarboro leads the Memphis Branch of the Federal Reserve Bank of St. Louis, serving western Tennessee, eastern Arkansas and northern Mississippi. Our staff supervise banks, offer cash services for such institutions, participate in community development efforts and provide economic education, among other duties.
Founded in 1918, our Memphis Branch was the second of three regional branches established by the St. Louis Fed. Now, a century later, the Memphis Branch continues to help the St. Louis Fed serve as a voice of Main Street.
St. Louis Fed President and CEO James Bullard spoke Oct. 18, 2018, to the Economic Club of Memphis. An FOMC participant, Bullard focused his presentation on modernizing monetary policy rules. About 150 business and community leaders, as well as economists, attended the event held on the University of Memphis campus.
During Bullard's two-day visit to Memphis, he met with civic leaders, toured a charter school that once housed the St. Louis Fed's Memphis Branch and attended a special dinner commemorating the Branch’s centennial. Among other activities, he met with current and former members of the Branch’s board of directors.
Bullard frequently visits communities in the four zones that make up the St. Louis Fed’s District.
Learn about upcoming events, news and data pertaining to the Memphis Zone.
The Memphis Branch’s board of directors provides one of the most direct ways for Branch staff to gauge the economic conditions of the area. Representing all parts of the Memphis Zone, the seven members of the board play a major role in helping the St. Louis Fed monitor the economic pulse of the area.
The St. Louis Fed’s Industry Councils are also a significant part of the conversation. The four councils—Health Care, Real Estate, Agribusiness and Transportation, the last of which is headed by the Memphis regional executive—consist of industry leaders around the District who gather semiannually to discuss business conditions.
Executives from organizations throughout the Federal Reserve's Eighth District serve on the Bank’s Community Development Advisory Council. The executives represent nonprofit organizations, financial institutions, universities, government and foundations.
The Memphis Branch hosts and sponsors community development events and facilitates partnerships with local and regional nonprofits to ensure fair and equal access to credit for low-income populations.
The economic education staff promotes the teaching and learning of economics and personal finance. By working with advisory boards of local educators, the staff produces online curriculum and other lesson plans to benefit students in the region.