Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta announced on Wednesday that he will retire at the end of his term in February, opening up a vacancy. Bostic was the first black and openly gay president of a regional federal reserve bank. He has been in the chair since 2017. Dr. Bostic served on the Federal Open Market Committee (FOMC) but he was not a voting member this year. Bostic was previously under fire for violating trading rules. “In October 2022, the Fed announced it was looking at trades Bostic made during blackout periods near policy meetings. An internal report showed there were 154 trades made on his behalf during those times. However, the report also indicated there was no evidence…
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