Chairman of the Atlanta Federal Reserve Board: Will search nationwide for Bostic's successor

Golden Ten Data, March 11 – Gregory Haile, Chairman of the Board of the Federal Reserve Bank of Atlanta, stated that the search for a successor to former Atlanta Fed President Bostic will be conducted nationwide, not limited to the southeastern region where the bank is located. As long as candidates are willing and able to work with the people and businesses of the region, they will be considered. It is reported that relevant application materials are still being collected, and interviews are expected to begin in about 30 days. Previously, U.S. Treasury Secretary Bessent stated in early December that he would propose that future regional Fed presidents must have resided in their jurisdiction for at least three years, otherwise “we will veto their appointment.” Haile said that there are currently no restrictions on the Atlanta Fed’s recruitment process. However, although the Fed president is appointed by the board of directors of the regional Fed, the appointment must be approved by the members of the Federal Reserve Board.