Atlanta Fed President Raphael Bostic to Retire in February 2026

Atlanta, GA — Raphael Bostic, President and CEO of the Federal Reserve Bank of Atlanta, announced on November 12, 2025, his plans to retire at the end of his current term on February 28, 2026. Serving since 2017, Bostic is the first Black and openly gay individual to lead a regional Federal Reserve bank. He has been a steady voice on the Federal Open Market Committee (FOMC), noted for his focus on economic inclusivity and caution in monetary policy decisions.

Bostic stated he will not seek reappointment for a new five-year term, expressing pride in his accomplishments advancing the goal of an economy that benefits all Americans. He indicated his desire to pursue new professional opportunities while continuing to promote inclusive economic growth.

Federal Reserve Chair Jerome Powell praised Bostic’s leadership, saying, “His steady voice has exemplified the best of public service — grounded in analysis, informed by experience, and guided by purpose.”

Bostic’s retirement opens a key leadership seat on the Federal Reserve amid a politically charged environment surrounding the central bank’s future direction. The Atlanta Fed’s board of directors has begun a search for his successor, who will have significant influence on regional economic policies and participate in the FOMC voting rotation starting in 2027.

In the interim, Cheryl Venable, the Atlanta Fed’s First Vice President and Chief Operating Officer, will serve as acting president until a permanent replacement is named. The leadership transition will be closely monitored by financial markets given its potential implications for U.S. monetary policy and regulatory oversight across the Sixth Federal Reserve District.

Bostic’s departure marks a pivotal moment for the Federal Reserve system, highlighting the ongoing balance between the Fed’s independence and external political pressures as it navigates a complex economic landscape.