Atlanta Fed names Bostic as president; first African-American at any regional bank

By | March 14, 2017

The Federal Reserve Bank of Atlanta today named as its new president Raphael Bostic, an economist, professor and former housing official under President Obama.

Bostic, 50, is the first African-American president at one of the dozen Fed regional banks. Since leaving the government in 2012, he has been a professor in public policy at the University of Southern California.

He will take the position during a time of economic transition and political turmoil. Fed leaders, apparently persuaded that the economy has finally healed from the recession, are poised to start raising interest rates again. That strategy — aimed at heading off inflation — would be bolstered if the Trump administration follows through on promises to spend large amounts of money on infrastructure. (Atlanta Journal-Constitution)

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