Atlanta Fed Grassroots Transcript

William J. Krueger
Board of Directors
Nashville Branch of the Federal Reserve Bank of Atlanta

 

William J. Krueger (voiceover): My name is Bill Krueger. I'm the Americas Chairman of JATCO. We're the transmission supplier to Nissan, General Motors, Mitsubishi, Renault, and Chrysler. Automotive is really one of the strongest industries in Tennessee. We've got multiple automobile plants.

I think the partnership with the Atlanta Fed is mutually beneficial. I get a chance to kind of hear right from the economists within our region what they perceive as future trends, and what they share with me is very beneficial when I'm looking at our business.

Lee Jones, vice president and regional executive, Nashville Branch: Have you seen any difficulties in recruiting?
 
Krueger (voiceover): I think the economic data that I share with the Atlanta Fed is used as an anecdotal confirmation of what the Fed economists see in some of the data.

Jones: Sales levels were as expected, or a little better.

Krueger (voiceover): The questions revolve around employment, inventory, wage growth. For us in automotive, it might be about auto loans—are we seeing a lot more people taking out credit, or are they paying cash?

Krueger (to Jones): Oh, it saves quite a bit of labor.

Krueger (voiceover) I see it as a civic obligation, very similar to voting. It's how I can support the U.S. economy. It's given me a heightened sense of economic awareness of what's going on within my community.