Economics
USC's Bostic to Become Fed's First Black Regional-Bank Chief
- Ex-Obama administration official to lead Atlanta Fed bank
- Holds doctorate in economics from Stanford, worked at HUD
Atlanta Fed Selects Raphael Bostic as New President
This article is for subscribers only.
The Federal Reserve Bank of Atlanta on Monday said its next president will be Raphael Bostic, a professor at the University of Southern California who will become the first black person to lead a regional Fed institution in the central bank’s 103-year history.
Bostic, who served from 2009 to 2012 as assistant secretary at the U.S. Department of Housing and Urban Development in the Obama administration, helped to formulate policies responding to the deepest recession since the 1930s. While his specific views on monetary policy aren’t known, he’s shown a career interest in aiding poor and struggling communities.