Raphael W. Bostic, president of the Federal Reserve Bank of Atlanta, announced on Wednesday that he will step down from his role and retire when his term expires at the end of February 2026.
“It’s been my distinct honor and privilege to lead the Atlanta Fed for these past eight and a half years. I feel incredibly fortunate to have worked with the Atlanta Fed’s outstanding staff to fulfill the Федеральный резерв‘s mission and serve the Sixth District and the American people,” Bostic said in a заявление.
“I’m proud of what we accomplished during my tenure to turn the lofty goal of an economy that works for everyone into more of a reality, and I look forward to discovering new ways to advance that bold vision in my next chapter.”
Bostic has led the Atlanta Fed since June 2017, and he is the first Black and openly gay regional Fed president. His tenure, however, has included scrutiny over personal investments.
In October 2022, the Fed reviewed trades Bostic made during blackout periods near policy meetings. He apologized for discrepancies, although no evidence showed he traded on insider information.
Bostic has vocalized caution when it comes to rate cuts this year, citing elevated инфляция and a softening рынок труда. He is not a voter on the Федеральный комитет по открытым рынкам in 2025, but the Atlanta Fed will regain a vote in 2027.
Председатель ФРС Джером Пауэлл praised Bostic, saying his “perspective has enriched the Federal Open Market Committee’s understanding of our dynamic economy. And his steady voice has exemplified the best of public service — grounded in analysis, informed by experience, and guided by purpose.”
Until a successor is named, Cheryl Venable — the Atlanta Fed’s first vice president and chief operating officer — will serve as acting president.
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