Most dealers react to interest-rate changes. Mike Jackson makes them happen.
The AutoNation CEO has been named chair of the Federal Reserve Bank of Atlanta's board for a one-year term that began Jan. 1.
Jackson, 68, who had been deputy chair, replaces Thomas Fanning, CEO of Southern Co. In 2013, Jackson chaired the Atlanta Fed's Miami branch.
The Federal Reserve Bank of Atlanta is one of 12 banks that make up the Federal Reserve System, which oversees banking in the U.S. Those banks also provide insights into U.S. economic conditions to the Fed in Washington, D.C., and their boards recommend changes in the Fed's discount rate.