Congress Members Praise Choice Of New Atlanta Fed President – Financial Regulation News
Congress members praise choice of new Atlanta Fed president – Financial Regulation News
The recent appointment of Raphael Bostic as president of the Atlanta Federal Reserve Bank – the first ever African-American president of a Federal Reserve Bank – was applauded by several members of Congress.
“This marks an historic event for our Federal Reserve System. In over 100 years of its existence, never has there once been an African American as a regional president,” U.S. Rep. David Scott (D-GA) said. “That all ends today.”
Bostic was tapped to replace Dennis Lockhart as the Atlanta Fed president on March 13. Bostic begins his term June 5.
“I am pleased that Federal Reserve officials have taken …