Raphael Bostic Named President of Atlanta Fed

The Federal Reserve Bank of Atlanta on Monday named as its new president Raphael W. Bostic, an economist who served as a housing policy official in the Obama administration.

The appointment is a milestone for the Federal Reserve. Mr. Bostic will become the first African-American to serve as president of any of the Fed’s 12 regional reserve banks, and the fourth to serve on the Federal Open Market Committee, which sets monetary policy like interest rate changes.

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