The leadership lineup at the Federal Reserve will go through another change come February 2026 after Atlanta Fed President Raphael Bostic on Wednesday, announced his departure from the regional branch. Bostic’s five-year term expires on February 28, 2026, at which point, the 59-year-old Harvard economist will formally exit.
(The Atlanta Federal Reserve branch is 111 years old / atlantafed.org)
Earlier this year in August, Fed Governor Adriana Kugler quietly stepped away from her role after less than two years in the position. The reason for her resignation remains a mystery. U.S. President Donald Trump, who spent much of the year lambasting Fed Chair Jerome Powell for being overly hawkish, welcomed Kugler’s move and promptly replaced her with his economic advisor Stephen Miran.
Read more: Trump Nominates Stephen Miran as New Fed Governor
And now with Bostic leaving in February and Powell out of the door in May, Trump may soon be able to significantly increase his influence over the country’s monetary policy, depending on who the new Atlanta Fed president will be. Regional Fed banks are responsible for their own appointments, but the Fed Board of Governors must sign off on Bostic’s successor. His Vice President, Cheryl Venable, will serve as interim president in the meantime. Bostic has been president of the 111-year-old Atlanta regional Fed bank since June 2017, serving one full 5-year term and a partial 3-year term.
“It’s been my distinct honor and privilege to lead the Atlanta Fed for these past eight and a half years,” Bostic said. “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.”
Powell also chimed in, hailing Bostic’s views as “grounded in analysis,” and describing him as an exemplary public servant “guided by purpose.”
“His perspective has enriched the Federal Open Market Committee’s understanding of our dynamic economy,” Powell said.
- When is Raphael Bostic leaving the Federal Reserve?
The Atlanta Fed president will step down when his five-year term ends on February 28, 2026. - Who will take over after Bostic’s departure?
Vice President Cheryl Venable will serve as interim president until a permanent replacement is approved. - Why is his exit significant?
Along with Jerome Powell’s May departure, it could give President Trump greater sway over U.S. monetary policy. - How long has Bostic led the Atlanta Fed?
He has served as president of the regional bank since June 2017.
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