Raphael Bostic Named New Atlanta Federal Reserve President, First Black Regional Fed Prez

The Atlanta Fed has a new leader.

On Monday, Raphael Bostic was named as the new president and CEO of the Atlanta Federal Reserve Bank.

An economist by training, Bostic was an assistant secretary at HUD before serving as a professor at USC.

Bostic is also the first African-American to serve as president of a regional Federal Reserve bank.

Tom Fanning, Chairman of the Atlanta Fed Board of Directors and Chairman, President and CEO of the Southern Company said of Bostic: “He is a seasoned and versatile leader, bringing with him a wealth of experience in public policy and academia. Raphael also has significant experience leading complex organizations and managing interdisciplinary teams. He is a perfect bridge between people and policy.”

Bostic’ joins the bank at an auspicious time. The Federal Reserve Board of Governors is meeting and seems to be poised to announce an interest rate hike.