The Board of Directors of the Federal Reserve Bank of Atlanta has initiated the process of searching for the next president.

Jinse Finance reported that following the news that current President Bostic will retire at the end of February, the Board of Directors of the Federal Reserve Bank of Atlanta has initiated the process of searching for the next president. According to the Federal Reserve Act, the regional Fed president is selected by Class B and Class C directors of the bank, that is, directors who are not affiliated with regulated financial institutions, and the final candidate must be approved by the Board of Governors of the Federal Reserve in Washington. The President of the Federal Reserve Bank of Atlanta will become a voting member of the Federal Open Market Committee (FOMC), which is responsible for setting interest rates, in 2027. (Golden Ten Data)