Mike Jackson is moving on up at the Federal Reserve. The AutoNation chief has been appointed to the Federal Reserve Bank of Atlanta's board of directors, effective Jan. 1.
Jackson, CEO of the nation's largest automotive retailer since 1999, has been on the board of directors of the Atlanta bank's Miami branch since 2011. He will be one of nine directors for the Atlanta Federal Reserve Bank, one of 12 such banks in the Federal Reserve system. His term will run through 2016.
The directors oversee management of the bank's operations and recommend changes in the discount rate. They also influence U.S. monetary policy. Jackson's promotion to the Atlanta board means auto retailing will play a bigger role in determining that policy.