10:00 AM EST, 11/12/2025 (MT Newswires) -- Atlanta Federal Reserve Bank President Raphael Bostic said Wednesday that he will retire when his term ends on Feb. 28, 2026.

The Atlanta Fed President does not vote on the Federal Open Market Committee until 2027. Bostic has served in his position since June 5, 2017.

"It's been my distinct honor and privilege to lead the Atlanta Fed for these past eight and a half years," Bostic said in a statement released on Wednesday. "I feel incredibly fortunate to have worked with the Atlanta Fed's outstanding staff to fulfill the Federal Reserve's mission and serve the Sixth District and the American people."

Bostic said that he intends to continue to work toward an economy that works for all people in his next role, which he did not disclose in his statement.

"It has been a privilege to serve alongside President Bostic," said Federal Reserve Board Chair Jerome Powell said. "His perspective has enriched the Federal Open Market Committee's understanding of our dynamic economy. And his steady voice has exemplified the best of public service-grounded in analysis, informed by experience, and guided by purpose. His leadership has strengthened our institution and advanced the Federal Reserve's mission."

The Atlanta Fed's board of directors will form a search committee to look for Bostic's replacement. Atlanta Fed First Vice President and Chief Operating Officer Cheryl Venable will act as interim president after Feb. 28 if a new president is not appointed before then, according to the Atlanta Fed.