Representative John Lewis applauds the appointment today of Raphael Bostic to become the 15th president of the Federal Reserve Bank of Atlanta. Bostic is both the first African-American and the first openly-gay president of a regional Federal Reserve Bank.
Bostic, currently a professor at the University of Southern California, served as the Assistant Secretary for Policy Development and Research at the U.S. Department of Housing and Urban Development during the Obama Administration. His term will begin in June.
“I congratulate Mr. Bostic on his historic appointment,” Rep. Lewis said. “Atlanta is the cradle of the Civil Rights movement, so it is only fitting that our city be home to the first African-American head of a Federal Reserve Bank. While such an appointment is long overdue, I am proud that Atlanta is leading the way. Atlanta has shown that our nation succeeds when all voices and perspectives are heard and can come together to chart a way forward. Metro Atlanta and the South were hit hard by the Great Recession, and it is my hope that the Federal Reserve works to make sure the doors of opportunity are open to everyone.”
Rep. Lewis wrote to the Atlanta Fed in September, along with Reps. David Scott (D-GA), Maxine Waters (D-CA), and John Conyers (D-MI), urging the Board to conduct an inclusive search and consider candidates of diverse backgrounds for the presidency, including racial minorities, women, and academics. He also joined a letter, led by Rep. Conyers and Sen. Elizabeth Warren (D-MA), last spring calling for greater diversity within the broader Federal Reserve.
The Federal Reserve Bank of Atlanta is responsible for the Sixth Federal Reserve District, which covers Georgia, Alabama, Florida, and parts of Louisiana, Mississippi, and Tennessee.