Atlanta Fed won’t vote again until 2027, but Trump will shape its future leadership
The Federal Reserve Bank of Atlanta is set for a leadership shakeup as president Raphael Bostic announced he would retire at the end of his term in February 28, 2026—opening a pivotal seat at the central bank’s table.
Yet, the Atlanta Fed’s next president, to be appointed by president Donald Trump, will not have a vote on interest rates until 2027, delaying any immediate influence on monetary policy.
“It’s been my distinct honor and privilege to lead the Atlanta Fed for these past eight and a half years,” Bostic, who made history as the first African American and openly gay president of a regional Fed bank, said.
“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.”
The announcement comes as the Federal Open Market Committee (FOMC) faces a critical year, with markets watching for signals on rate cuts amid persistent inflation and a cooling labor market.
Bostic’s successor will be selected by the Atlanta Fed’s board, but the final approval rests with the Fed’s Board of Governors—three of whom were appointed by Trump. This process, while typically routine, is now under heightened scrutiny given the administration’s push to shape a more rate-cut-friendly central bank.
Shelly Antoniewicz, chief economist at the Investment Company Institute, says the Fed’s December rate decision hinges on full government data for GDP, inflation, and employment. https://t.co/PqJyQ4CRIY
— Mortgage Professional America Magazine (@MPAMagazineUS) November 11, 2025
“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,” said Gregory Haile, chair of the Atlanta board of directors.
While the Atlanta Fed’s next president will not immediately vote on the FOMC, the appointment is expected to shape the board’s stance in the years ahead.
Bostic, often seen as a centrist, has recently leaned hawkish, warning that inflation remains “a significant problem” and cautioning against aggressive rate cuts.
“With each step, we get closer and closer to neutral in ways that make me uncomfortable,” he said, reflecting concerns that persistent inflation could outpace the Fed’s efforts.
Bostic’s tenure was marked by both historic firsts and controversy. In October 2022, the Fed reviewed trades made on his behalf during blackout periods, ultimately finding no evidence of insider trading but prompting tighter internal controls across the system.
“His perspective has enriched the Federal Open Market Committee’s understanding of our dynamic economy,” Fed chair Jerome Powell said.
“His steady voice has exemplified the best of public service—grounded in analysis, informed by experience, and guided by purpose.”
Until a permanent successor is named, Cheryl Venable, the Atlanta Fed’s first vice president and COO, will serve as interim president if needed. The search for Bostic’s replacement will be led by a committee of non-banking board members, in accordance with Federal Reserve policy.
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