Raphael W. Bostic announced he will retire as president and CEO of the Federal Reserve Bank of Atlanta when his current term concludes on Feb. 28, 2026.
Bostic is the 15th person to lead the Atlanta Fed and is the first Black and openly gay president of a regional Federal Reserve Bank. Before becoming the bank’s chief executive in June 2017, he was the chairman of the Department on Governance, Management and the Policy Process at the Sol Price School of Public Policy at the University of Southern California. Earlier in his career, he was an economist for the Federal Reserve Board of Governors and later served as the assistant secretary for policy development and research at Department of Housing and Urban Development from 2009 to 2012.
Bostic currently serves on the Federal Open Market Committee, the monetary policymaking body of the Federal Reserve System. The bank’s first vice president and chief operating officer, Cheryl Venable, will assume the duties of president on an interim basis until a new president is appointed, if a successor is not appointed by Feb. 28, 2026, in accordance with Section 4 of the Federal Reserve Act.
“It’s been my distinct honor and privilege to lead the Atlanta Fed for these past eight and a half years,” said Bostic. “I feel incredibly fortunate 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. 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.”
