Bostic's Departure Under Political Scrutiny Challenges the Federal Reserve's Autonomy

Raphael W. Bostic, President of the Federal Reserve Bank of Atlanta, has revealed he will retire on November 12, 2025, and officially leave his position when his term ends on February 28, 2026, according to a

. At 59, Bostic will depart after nearly a decade at the helm, having made history as the first openly gay and African American leader in the Federal Reserve system’s 111-year existence, as highlighted by the . His resignation comes amid a series of leadership changes at the U.S. central bank, with political pressure from President Donald Trump to lower interest rates, according to a .

During Bostic’s leadership, he championed economic fairness, especially after the 2020 social justice demonstrations, and maintained a careful stance on inflation. While he backed two rate reductions in 2025, he has repeatedly called for caution, emphasizing that inflation is still a "major challenge" and that the Fed should aim to bring it back to 2%, as mentioned in a

. “Monetary policy needs to stay tight as long as inflation exceeds our target,” Bostic remarked, pointing to risks from possible tariffs and rising business costs, as reported by .

The Atlanta Fed’s board will assemble a search committee made up of non-bank members to identify Bostic’s replacement, as noted by . Should a new president not be appointed by February 28, First Vice President Cheryl Venable will act as interim president, according to . Bostic’s departure will occur before Fed Chair Jerome Powell’s term concludes in May 2026, adding complexity to the central bank’s leadership transition, as reported by a .

Bostic’s planned exit comes amid ongoing debates about the Fed’s autonomy. Trump has often criticized the central bank for not cutting rates more quickly, and his administration is said to be considering ways to increase its influence over regional Feds, as reported by

. Whoever succeeds Bostic will take on a key position on the Federal Open Market Committee (FOMC), with the Atlanta Fed president next eligible to vote in 2027.

Powell commended Bostic’s contributions, saying his “consistent leadership has represented the highest standards of public service—rooted in careful analysis, shaped by experience, and driven by purpose,” as reported by

. Bostic shared his pride in promoting the Fed’s goal of building “an economy that benefits everyone,” and said he is eager to “find new ways to pursue that ambitious vision” in the future, as reported by .

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