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Facade of the Fereral reserve bank of Atlanta

Source: Allan Baxter / Getty


The Federal Reserve Bank of Atlanta named Raphael W. Bostic as their first Black President.

Bostic, 50, is a former housing policy official in the Obama Administration. He will now be the head of all 12 regional reserve banks, and only the fourth president to serve on its legislative committee, which raises and lowers interest rates.

In a video statement released by the Atlanta Fed, Bostic stated, “This could have happened a long time ago, but we’re happy that it happened now, and I look forward to this being a steppingstone for many others to have this opportunity as well.”

Source: NY Times

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