Raphael Bostic to Retire as Atlanta Fed President in 2026 Amid Rate Cut Push

Atlanta Federal Reserve President Raphael Bostic has officially announced his decision to retire at the end of his term in February 2026, marking the conclusion of his eight-year tenure leading the Atlanta Fed. The news arrives at a pivotal time for the U.S. Federal Reserve, as the central bank intensifies discussions on potential interest rate cuts aimed at stimulating economic growth.

Bostic, who assumed office in 2017, made history as the first openly gay and Black president within the Federal Reserve system. His leadership has been characterized by a balanced, centrist approach—favoring gradual economic adjustments over drastic reforms. Throughout his term, he has maintained a cautious stance on rate cuts, even as inflation remains elevated and the labor market shows signs of softening.

Despite a controversy in 2022 involving alleged insider trading during Fed blackout periods—claims later proven unfounded—Bostic’s credibility and contributions remain widely respected. Fed Chair Jerome Powell commended Bostic’s impact, emphasizing how his insights have deepened the Federal Open Market Committee’s (FOMC) understanding of the nation’s complex economy.

Upon Bostic’s retirement, Cheryl Venable, the current First Vice President and Chief Operating Officer, will step in as acting president until a permanent successor is elected by the regional board and approved by the Federal Board of Governors.

Bostic’s retirement coincides with a crucial phase for the Fed. As discussions over monetary policy reforms continue, Fed Governor Stephen Miran is advocating for a 50 basis point rate cut by December. However, the FOMC has maintained its conservative approach, implementing smaller 0.25% reductions in recent months. Meanwhile, Jerome Powell’s term as Chair is set to end in May 2026, though he will remain on the board until 2028—ensuring policy continuity amid leadership transitions.