Atlanta Fed President Raphael Bostic Announces Retirement, Will Depart in February 2026

Atlanta Fed President Raphael Bostic to Retire

Raphael Bostic, the President and Chief Executive Officer of the Federal Reserve Bank of Atlanta, announced on Wednesday, November 12, 2025, his decision to retire at the conclusion of his current term on February 28, 2026. Bostic, who has served in the role for more than eight years, will not seek reappointment.

Bostic, 59, made history as the 15th president of the Atlanta Fed and the first Black and openly gay individual to lead one of the central bank's 12 regional branches. His departure will open a significant position on the Federal Open Market Committee (FOMC), the body responsible for setting U.S. interest rates.

Tenure and Contributions

Bostic assumed office on June 5, 2017. During his tenure, he has been a vocal advocate for economic equity. In a statement, Bostic reflected on his time, saying, 'It's been my distinct honor and privilege to lead the Atlanta Fed for these past eight and a half years.' He added, '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.'

Federal Reserve Chair Jerome Powell praised Bostic's contributions, stating, 'His steady voice has exemplified the best of public service — grounded in analysis, informed by experience, and guided by purpose.' Powell further noted that Bostic's 'perspective has enriched the Federal Open Market Committee's understanding of our dynamic economy.'

Reappointment Process and Future Leadership

While the Atlanta Fed did not provide a specific reason for Bostic's retirement, his decision to step down ahead of the reappointment process is notable. All Fed bank presidents undergo a reappointment review by the end of February. Bostic's departure comes amidst increased political scrutiny on the Federal Reserve, particularly concerning interest rate policies.

The Atlanta Fed's board of directors will initiate a nationwide search for Bostic's successor. Should a permanent replacement not be appointed by February 28, 2026, Cheryl Venable, the Atlanta Fed's first vice president and chief operating officer, will serve as interim president. The Atlanta Fed president is a rotating voting member of the FOMC, and Bostic would have been eligible to vote again in 2027.

Background of Dr. Raphael Bostic

Born in New York City in 1966 and raised in Delran, New Jersey, Bostic holds a B.A. from Harvard University (1987) and a Ph.D. in economics from Stanford University (1995). Before joining the Atlanta Fed, his career included roles at the Federal Reserve Board of Governors and as the Assistant Secretary for Policy Development and Research at the U.S. Department of Housing and Urban Development (HUD) during the Obama administration.