Raphael Bostic to Step Down as Atlanta Fed President in February 2026
A historic figure in US monetary policy, Dr. Raphael W. Bostic will conclude his tenure as president and CEO of the Federal Reserve Bank of Atlanta at the end of his current term.
Dr. Raphael W. Bostic, the president and chief executive officer of the Federal Reserve Bank of Atlanta, announced on November 12, 2025, his intention to retire upon the completion of his current term on February 28, 2026.Bostic’s departure will mark the end of an era for the Atlanta Fed and the broader Federal Reserve System, as he is the first African american and openly gay president of a regional Federal Reserve Bank in its 111-year history.
Bostic, who assumed the role on June 5, 2017, expressed gratitude for his time leading the institution. “It’s been my distinct honor and privilege to led the Atlanta Fed for these past eight and a half years,” he stated. “I feel incredibly blessed to have worked with the Atlanta Fed’s outstanding staff to fulfill the Federal Reserve’s mission and serve the Sixth District and the American people.” He further emphasized his commitment to fostering an inclusive economy, adding, “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.”
As president, Bostic oversaw all aspects of the Bank’s operations, including the crucial areas of monetary policy, bank supervision, and payment services. He also served as a key member of the Federal Open Market Committee (FOMC), the body responsible for shaping the nation’s monetary policy.
Federal Reserve Board Chair Jerome H. Powell lauded Bostic’s contributions, stating, “His perspective has enriched the Federal Open Market Committee’s understanding of our dynamic economy.” Powell continued, praising Bostic’s leadership as “grounded in analysis, informed by experience, and guided by purpose,” and highlighting its positive impact on the institution and the Federal Reserve’s overall mission.
The Atlanta Fed’s board of directors has initiated a nationwide search for Bostic’s successor, comprised of non-banking members of the board, adhering to established Federal Reserve policies and the Federal Reserve act. Gregory Haile, chair of the Atlanta board of directors, expressed the board’s recognition for Bostic’s service. “the Atlanta Fed board of directors thanks President bostic for his excellent leadership, intellectual integrity, and dedication to serving the American people,” Haile said. “President Bostic leaves the Atlanta Fed united in a shared purpose and a vision for progress that extends across the Federal Reserve System.”
reader question: What does the Federal Open Market Committee (FOMC) do?
In the interim, Cheryl Venable, the Bank’s first vice president and chief operating officer, will assume the duties of president, should a successor not be appointed by the February 28, 2026 deadline, as outlined in Section 4 of the Federal Reserve Act. Haile affirmed the board’s commitment to finding a qualified leader, stating, “The board will work diligently to find the next leader of the Atlanta Fed, someone who will continue to advance the critical work of the central bank and is committed to strengthening the economy and our communities by fostering the stability, integrity, and efficiency of our nation’s monetary, financial, and payments systems.”
The Federal Reserve Bank of Atlanta plays a vital role in the nation’s financial system, serving the Sixth Federal Reserve District, which includes Alabama, Florida, Georgia, and portions of Louisiana, Mississippi, and Tennessee. The Bank contributes to national monetary policy, supervises commercial banks, and provides essential financial services to both depository institutions and the US government.
. The search for Bostic’s replacement is expected to be a closely watched event, as the new president will inherit a critical role in navigating the complex economic landscape and shaping the future of monetary policy.
