ST. LOUIS - Mike McCarthy, president for Terminal Railroad Association of St. Louis, has been named to the Transportation 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 supported by one of four of the Reserve Bank's offices: St. Louis (real estate), Little Rock (agribusiness), Louisville (health care) and Memphis (transportation). The councils meet twice a year.