ATLANTA — Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta, is retiring this month after serving more than eight years in the position.
Channel 2’s Linda Stouffer spoke with Bostic, the first African American and first openly gay president of a regional Federal Reserve Bank, just a few weeks before he steps down from the position.
[DOWNLOAD: Free WSB-TV News app for alerts as news breaks]
“It’s an honor,” Bostic said of his time leading the bank. “One of the things I really wanted to do is be a good president first, who happened to be Black, who happened to be gay, and just have that be the baseline. So, if I kept my head down and did the work the best I could and showed people that someone who looks like me can actually thrive in this role, that’s the most important thing. I actually think I’ve done a pretty good job.”
His retirement comes as mixed signals in the economy has many concerned about the future of interest rates. Bostic says it’s important for interest rates to hold steady instead of being cut.
“It could potentially have inflation get stuck at a level that’s too high,” he explained.
That puts him on the opposite side of the White House’s position as President Donald Trump urges current Federal Reserve Chair Jerome Powell to cut interest rates to lower costs.
TRENDING STORIES:
- Hundreds of thousands of Georgians could get a check from the state
- Lil Jon ‘heartbroken’ after body recovered from pond believed to be his son, DJ Young Slade
- Law firm investigating Home Depot after 800 Georgia layoffs announced
“What’s important for us is that we are allowed to keep our head down and respect and honor the charge that we’ve been given, which is to create stable prices and maximum employment over that longer horizon,” he said.
The Federal Reserve Bank of Atlanta represents parts of six southern states.
Bostic’s replacement has not been named. A search committee is beginning a broad search to find its next leader.
[SIGN UP: WSB-TV Daily Headlines Newsletter]
©2026 Cox Media Group
