Atlanta Federal Reserve president to retire, effective February
ATLANTA — Dr. Raphael W. Bostic, president and CEO of the Federal Reserve Bank of Atlanta, announced his retirement at the end of his current term on Feb. 28, 2026.
Bostic, who has served since June 5, 2017, is notable for being the first African American and openly gay president of a regional Federal Reserve Bank, officials said.
[DOWNLOAD: Free WSB-TV News app for alerts as news breaks]
His tenure has been marked by efforts to create an economy that works for everyone, a goal he plans to continue pursuing in new ways after his retirement.
“It’s been my distinct honor and privilege to lead the Atlanta Fed for these past eight and a half years,” Bostic said in a statement. “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.”
TRENDING STORIES:
In his current role, President Bostic oversees all of the Bank’s activities, including monetary policy, bank supervision, and payment services.
Bostic also serves on the Federal Open Market Committee, the monetary policymaking body of the Federal Reserve System.
The Federal Reserve Bank of Atlanta’s board of directors will form a search committee to conduct a nationwide search for the next president, consistent with Federal Reserve policies and the Federal Reserve Act.
“His perspective has enriched the Federal Open Market Committee’s understanding of our dynamic economy,” Federal Reserve Board Chair Jerome H. Powell said, praising Bostic’s leadership during his term.
Cheryl Venable, the Bank’s first vice president and chief operating officer, will assume the duties of president on an interim basis if a successor is not appointed by Feb. 28, 2026.
The Federal Reserve Bank of Atlanta serves the Sixth Federal Reserve District, which includes Alabama, Florida, Georgia, and parts of Louisiana, Mississippi, and Tennessee.
The Federal Reserve Bank said Bostic’s retirement marks the end of a historic tenure at the Atlanta Fed, where he has been a trailblazer in both diversity and economic policy.
[SIGN UP: WSB-TV Daily Headlines Newsletter]
©2025 Cox Media Group