Written By Tyler Abram

Chairman Michael Whaley recognized Dr. Douglas Scarboro during the Black History Month 2025 celebration, commending his leadership as Senior Vice President and Regional Executive of the Memphis Branch of the Federal Reserve Bank of St. Louis. The tribute highlighted Scarboro's commitment to economic development and his dedication to serving the communities of western Tennessee, northern Mississippi, and eastern Arkansas. While Dr. Scarboro was unable to attend the ceremony due to being out of town, Chairman Whaley emphasized the importance of his role and pledged to present him with the award upon his return.

To fully appreciate the significance of this honor, it's essential to understand Dr. Scarboro's responsibilities at the Federal Reserve, his contributions to the Memphis community, and the respect he has garnered from Chairman Whaley and other leaders.

Leading the Memphis Branch of the Federal Reserve

As Senior Vice President and Regional Executive of the Memphis Branch of the Federal Reserve Bank of St. Louis, Dr. Douglas Scarboro plays a critical role in shaping the region's economic landscape. He assumed this position in June 2015 and is responsible for overseeing the operations of the Memphis Branch, which serves all of western Tennessee, northern Mississippi, and eastern Arkansas.

Chairman Whaley highlighted Scarboro’s leadership. He was going to use humor and say, "I was going to ask him if he would have brought samples of his products over, but I guess he did not," demonstrating Whaley's personal connection to the honoree.

In his role, Dr. Scarboro is responsible for:

Monitoring Economic Conditions:** Dr. Scarboro and his team closely monitor economic trends and developments in the region, providing valuable insights and analysis to the Federal Reserve System. Engaging with the Community: Dr. Scarboro actively engages with businesses, community organizations, and civic leaders to understand the challenges and opportunities facing the region. *Promoting Economic Education: Dr. Scarboro is a strong advocate for economic education, working to improve financial literacy and promote economic understanding among individuals and businesses. Contributing to Monetary Policy:* Dr. Scarboro provides valuable input and recommendations to the Federal Reserve's monetary policy decision-making process.

A Heart for Service

Chairman Whaley emphasized Dr. Scarboro's "heart for service," noting that he was "one of my early mentors when I moved to Memphis." This personal connection underscored Whaley's genuine appreciation for Scarboro's leadership and guidance.

Scarboro is not only a great contributor to the Federal Reserve, but also in the city of Memphis. His previous roles in the City of Memphis are as the Executive Director of Office of Talent and Human Capital, and Chief Learning Officer. In his time at the city, Scarboro showed his dedication to the citizens of the city.

A Commitment to Economic Development

Dr. Scarboro is deeply committed to promoting economic development and creating opportunities for individuals and businesses in the region. He works closely with community organizations and economic development agencies to support initiatives that foster job creation, attract investment, and improve the quality of life for residents.

He understands that economic prosperity is essential for building strong and vibrant communities, and he dedicates his time and energy to promoting economic growth in the region.

A Well-Deserved Honor

Dr. Douglas Scarboro's leadership at the Federal Reserve Bank of St. Louis, his commitment to community service, and his dedication to economic development have made him a true asset to the region.

Chairman Whaley's recognition of Dr. Scarboro during Black History Month was a fitting tribute to his extraordinary achievements and his lasting legacy. While he was unable to attend the ceremony, the honor served as a reminder of the importance of his work and its positive impact on the lives of countless individuals and communities.

The Shelby County Board of Commissioners has set a stellar example for the rest of the Mid-South by honoring such a dedicated and driven member. Dr. Douglas Scarborough provides an example that will be remembered for generations to come. Dr. Scarboro’s focus on the people, combined with his career, is to be modeled.