Tractor Zoom has announced CEO and Founder, Kyle McMahon, has been appointed to the Federal Reserve Bank of Chicago Small Business, Community and Economic Development, Agriculture and Labor Advisory Council. In this role, Kyle will help advise the bank on developments and issues affecting the agricultural industry by serving on the Small Business, Agriculture, and Labor Sub-Council.
“I am honored to serve on the Federal Reserve Bank of Chicago Advisory Council,” said McMahon. “This is certainly a unique time to serve on this council given today’s inflation rates, geopolitics, supply chain challenges, and food shortages but as a member of the council, it is my job to bring a ‘boots on the ground’ perspective to help the bank drive positive monetary policy in the U.S.”
Council members serve a two-year term and meet bi-annually to share their views on current business conditions with Chicago Fed President, Charles L. Evans, and other senior leadership. Input from Council members on regional economic conditions not only informs the Chicago Fed how people and businesses are doing across the Seventh District (Illinois, Indiana, Iowa, Michigan and Wisconsin) but also helps to influence national monetary policy decisions.
McMahon, who owns a 600-acre corn and soybean farm in Southern Iowa, founded Tractor Zoom in 2017 after recognizing leaders in agriculture lacked quality data to inform decisions on the purchase and financing of farm equipment. Today, Tractor Zoom advertises over $10 billion worth of farm equipment and leverages that data to help Farm Credit Associations, Farm Service Agencies, banks, equipment dealerships, auctioneers and farmers understand real-time equipment values.
“I’m thrilled to bring my unique perspective not only as a small business owner in the agriculture space but as a farmer as well,” said McMahon. “It’s important to me to bring visibility to the challenges farmers are facing today in rising farm input costs and asset values, which are ultimately creating issues for farm cash flow.”
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