**Atlanta Fed President Raphael Bostic to Step Down in February**

Atlanta Federal Reserve President Raphael Bostic announced Wednesday that he will be leaving his position when his term expires on February 28th. Bostic, who has served since June 2017, made history as the first Black and openly gay regional president of the Federal Reserve.

“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,” Bostic said in a statement.

His announcement comes at a pivotal time for the Federal Reserve and its rate-setting body, the Federal Open Market Committee (FOMC). Regional presidents serve five-year terms, often synchronized to expire in years ending in either 1 or 6, which will be the case next year. While local boards vote on the regional presidents, their appointments are subject to approval by the Fed Board of Governors. Although the process is typically routine, unusual political dynamics on the board this year could add complexity.

Alongside the reappointments of regional presidents, Jerome Powell’s term as Fed chair is set to expire in May. However, his role as governor continues until 2028.

During his tenure, Bostic gained a reputation as a centrist. He has taken a cautious approach to interest rate cuts amid elevated inflation and a softening labor market. Notably, he is not an FOMC voter this year—Atlanta will next get a vote in 2027.

Fed Chair Jerome Powell praised Bostic, stating, “His perspective has enriched the Federal Open Market Committee’s understanding of our dynamic economy. And his steady voice has exemplified the best of public service grounded in analysis, informed by experience, and guided by purpose.”

Until Bostic’s successor is named, Cheryl Venable, the first vice president and chief operating officer at the Atlanta Fed, will serve as acting president.
https://www.cnbc.com/2025/11/12/atlanta-fed-president-bostic-says-hell-leave-position-when-his-term-expires.html