MNI BRIEF: Atlanta Fed President Bostic To Step Down In Feb

Federal Reserve Bank of Atlanta President Raphael Bostic, the first African American and openly gay president of a regional Fed bank, said Wednesday he intends to retire on February 28, 2026 after nearly nine years in the post. 

As a monetary policymaker, Bostic was a grounded centrist who supported the Fed's moves to support the economy during Covid and its pivot to rapid interest rate hikes to rein in inflation in 2022. Bostic was early in calling a peak in rates in 2023, but as tariffs hit this year, he has also been circumspect about lowering interest rates quickly, warning that price pressures are still too high. (See: MNI INTERVIEW: Bostic Backs Go-Slow On Rates As Tariffs Linger)

As the first black regional Fed president in its century-long history, Bostic also emphasized inclusion, community outreach and open debate, often calling back to the Atlanta Fed's tagline of building “an economy that works for everyone.” He is one of the most prominent public officials to express support for reparations for African Americans to address the legacy of past racism. 

Bostic was also caught in the Fed's ethics scandal, acknowledging that he had accidentally broken standards on trading during blackout periods. The Fed’s inspector general found in 2024 that more than 150 trades had been executed in his accounts during blackouts between 2018 and 2023, creating an appearance of conflicts of interest, though there was no evidence of using insider information.

All Fed bank presidents are up for reappointment every five years to terms that expire at the end of February in years ending with 1 or 6, and the Trump administration has said it was weighing the option of not automatically reappointing the regional chiefs if it gains a majority on the Fed Board of Governors. Bostic would have faced mandatory retirement at the age of 65 in 2031.