Atlanta Fed Chief Raphael Bostic Announces Retirement Amid Political Tensions

Raphael Bostic, the Atlanta Fed President and the first Black and openly gay leader of a regional U.S. central bank, announced his retirement effective February 28, 2026. His decision comes as President Trump seeks greater influence over the Federal Reserve, amidst ongoing debates about interest rate cuts.

Atlanta Federal Reserve President Raphael Bostic has announced his retirement at the end of his term on February 28, 2026. Bostic, the first Black and openly gay leader of a regional U.S. central bank, is stepping down as President Trump intensifies efforts to increase his influence over the Federal Reserve.

Bostic's announcement comes as the Fed faces critical monetary policy decisions, particularly regarding continued interest rate cuts amidst stubbornly high inflation. Trump has criticized the Fed under Chairman Jerome Powell for being too cautious in reducing rates. Meanwhile, Bostic has emphasized that labor market conditions do not warrant a drastic Fed response.

Despite his impending retirement, Bostic's role in the policy debate has been significant, and his work in economic equity has sparked both praise and criticism. His leadership at the Atlanta Fed has been marked by an inclusive approach to monetary policy, representing varied regional economic perspectives and advancing the Federal Reserve's mission.

(With inputs from agencies.)