Bostic has led the Atlanta Fed since June 2017, and he is the first Black and openly gay regional Fed president. His tenure, however, has included scrutiny over personal investments.
In October 2022, the Fed reviewed trades Bostic made during blackout periods near policy meetings. He apologized for discrepancies, although no evidence showed he traded on insider information.
Bostic has vocalized caution when it comes to rate cuts this year, citing elevated inflation and a softening labor market. He is not a voter on the Federal Open Market Committee in 2025, but the Atlanta Fed will regain a vote in 2027.
Fed Chair Jerome Powell praised Bostic, saying his “perspective has enriched the Federal Open Market Committee’s understanding of our dynamic economy. And his steady voice has exemplified the best of public service — grounded in analysis, informed by experience, and guided by purpose.”
Until a successor is named, Cheryl Venable — the Atlanta Fed’s first vice president and chief operating officer — will serve as acting president.
