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6d ago

Atlanta Fed President Raphael Bostic to Retire Feb. 28, 2026

A board-led search will select his successor, with Cheryl Venable set to serve as interim if no replacement is in place by his term’s end.

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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

  • The Atlanta Fed’s board will form a committee of non-banking directors to conduct a nationwide search, and any appointment requires Federal Reserve Board of Governors approval.
  • The leadership change introduces a regional vacancy with implications for the Federal Open Market Committee’s dynamics, though Atlanta’s next voting rotation is in 2027.
  • Bostic’s departure comes as President Trump presses for faster rate cuts, but the White House does not choose regional Fed presidents.
  • Bostic, 59, has led the bank since 2017 and was the first African American and openly gay president of a regional Federal Reserve Bank.
  • The Fed’s Inspector General previously found Bostic created the appearance of trading on confidential information and a conflict of interest in his personal investments.