Atlanta Fed Begins Search for New President as Bostic Plans Retirement

According to BlockBeats, the Atlanta Federal Reserve Board has initiated the process of selecting a new president following the announcement that current President Raphael Bostic will retire at the end of February. Under the Federal Reserve Act, the president of a regional Federal Reserve Bank is chosen by Class B and Class C directors, who are not affiliated with regulated financial institutions. The final candidate must receive approval from the Federal Reserve Board in Washington. The new president of the Atlanta Fed will serve as a voting member of the Federal Open Market Committee (FOMC) responsible for setting interest rates in 2027.