Mr. Bostic, an economist and a former housing policy official in the Obama administration, will become the first African-American to lead any of the Fed’s 12 regional reserve banks,<br />and just the fourth to serve on its policy-making committee, which raises and lowers interest rates.<br />Raphael Bostic to Be First Black President of a Fed Regional Bank -<br />By BINYAMIN APPELBAUMMARCH 13, 2017<br />WASHINGTON — The Federal Reserve Bank of Atlanta on Monday shattered a 104-year-old racial barrier by naming Raphael W. Bostic as its new president.<br />“He is a seasoned and versatile leader, bringing with him a wealth of experience in public policy<br />and academia,” the Atlanta Fed’s board chairman, Thomas A. Fanning, said in a statement.<br />“This could have happened a long time ago, but we’re happy<br />that it happened now, and I look forward to this being a steppingstone for many others to have this opportunity as well,” Mr. Bostic said in a videotaped statement released Monday by the Atlanta Fed.
