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1h ago

Atlanta Fed Chief Raphael Bostic to Retire at End of Term in 2026

The bank’s board will run a nationwide search subject to Federal Reserve Board approval.

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President and chief executive officer of the Federal Reserve Bank of Atlanta, Raphael Bostic speaks at the South African Reserve Bank's Biennial Conference in the Cape Town International Convention Centre, South Africa, August 31, 2023. REUTERS/Esa Alexander

Overview

  • Bostic, 59, said he will not seek another five-year term and will step down on Feb. 28, 2026.
  • The Atlanta Fed board will convene a search committee, and any successor must be approved by the Fed’s Board of Governors.
  • If a successor is not in place by Feb. 28, Cheryl Venable, the bank’s first vice president and COO, will assume the role on an interim basis.
  • The Atlanta Fed presidency participates on the 19-member Federal Open Market Committee, with the next voting rotation for the seat scheduled in 2027.
  • The transition follows an Inspector General finding last year about the appearance of improper trading and comes as President Donald Trump presses for greater sway over Fed leadership.