Atlanta Fed Chief Bostic to Retire After Current Term
Dr. Raphael W. Bostic, president and chief executive officer of the Federal Reserve Bank of Atlanta, has announced his retirement effective February 28, 2026. His tenure commenced on June 5, 2017, making him the 15th leader of the Atlanta Fed. Bostic stands out as the first African American and openly gay individual to hold such a position in the institution’s 111-year history.
Bostic’s Reflections on Leadership
In his statement regarding his retirement, Bostic expressed pride in his achievements over the past eight and a half years. He emphasized his commitment to making the economy more inclusive for all Americans. Reflecting on his time at the Atlanta Fed, he stated, “I feel incredibly fortunate to have worked with the Atlanta Fed’s outstanding staff.” Bostic has been pivotal in overseeing the Bank’s monetary policy, bank supervision, and payment services.
Recognition from Peers
Jerome H. Powell, Chair of the Federal Reserve Board, lauded Bostic for his impactful leadership. He noted that Bostic’s insights have enriched the Federal Open Market Committee’s understanding of the economy. Powell remarked, “His leadership has strengthened our institution and advanced the Federal Reserve’s mission.”
Search for a Successor
The board of directors at the Federal Reserve Bank of Atlanta will form a search committee to identify the next president. This committee will consist of non-banking members of the board and will adhere to Federal Reserve policies and the Federal Reserve Act. Gregory Haile, chair of the board, highlighted the importance of finding a successor who aligns with their vision for progress.
- The interim president will be Cheryl Venable, the bank’s first vice president and chief operating officer.
- The board aims to complete the search before Bostic’s departure in February 2026.
Role and Responsibilities of the Atlanta Fed
The Federal Reserve Bank of Atlanta plays a critical role in the nation’s central banking system. It encompasses the Sixth Federal Reserve District, which includes:
- Alabama
- Florida
- Georgia
- Parts of Louisiana
- Mississippi
- Tennessee
The Atlanta Fed is tasked with setting national monetary policy, supervising commercial banks, and providing a range of financial services to the government and depositories. Bostic’s retirement marks a significant transition for the bank as it seeks to continue its mission of fostering economic stability and integrity.
