US EditionAtlanta Fed President Bostic says he'll leave position when his term expires in February
Raphael Bostic's February retirement creates a vacancy on the Federal Reserve's rate-setting committee during a period of political pressure on the central bank's policy decisions.
- In a move that creates a Fed committee vacancy, Raphael Bostic, President of the Federal Reserve Bank of Atlanta, will retire at the end of his current term in February, prompting the Atlanta Fed's board to select a successor and the Fed's board of governors to approve that choice.
- The Atlanta Fed's board of directors will choose Bostic's successor, and the Federal Reserve's board of governors must approve the nominee; three of the seven governors were appointed by President Donald Trump.
- As president of one of the Fed's 12 regional banks, Bostic, 59, sits on the 19-member Federal Open Market Committee that meets eight times a year, with only 12 participants voting and Atlanta Fed next voting in 2027.
- The retirement arrives against a recent pattern of quarter-point rate cuts at the September and October meetings, and the replacement could alter the committee's voting dynamics when votes occur.
- Because regional banks give outside voices a role, regional Federal Reserve banks ensure influence beyond Washington and New York, while three of the seven members of the Fed's board of governors appointed by President Donald Trump affect approval and the Fed's board of governors' approval role.
67 Articles
67 Articles
Atlanta Fed President Raphael Bostic to retire, giving Trump chance for more influence
Atlanta Federal Reserve President Raphael Bostic, the first black and openly gay person to lead one of the central bank's 12 regional banks, said on Wednesday he will retire at the end of his current term on February 28, 2026, an unexpected departure amid a push by President Trump for more influence over the Fed.
JUST IN: Atlanta Federal Reserve President Who Violated Trading Rules to Step Down, Opening Vacancy
Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta announced on Wednesday that he will retire at the end of his term in February, opening up a vacancy.
Fed’s Bostic favors no change in rates while inflation remains greater risk
(Reuters) -Atlanta Federal Reserve President Raphael Bostic on Wednesday said he favors leaving interest rates where they are until there is “clear evidence” that inflation is moving back to the U.S. central bank’s 2% target. Bostic, speaking just over two hours after unexpectedly announcing plans to retire at the end of February, said in judging the risks to the Fed’s dual mandates of price stability and a strong job market, he believes the “cl…
Coverage Details
Bias Distribution
- 72% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
