Atlanta Fed President Raphael Bostic says he will resign at the end of his term in February.
His departure comes at a pivotal time for the Fed and attention will turn to who his successor will be and how they may affect future Federal Reserve decisions as Bostic will be leaving just a few months before Fed Chair Jerome Powell’s term expires. His replacement will not be selected by President Trump however, but by the Atlanta Fed board of directors, made up of local business and community leaders.
Bostic is the first Black and openly gay Fed President. His tenure has been marked by careful oversight during turbulent times, including guiding policy through a period of economic recovery. His approach often reflected a balance between promoting growth and curbing inflation — a tightrope that the Federal Reserve continues to navigate amidst economic uncertainties. Recently he has signalted that he believes inflation is still too high for a deep interest rate cut.
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