Raphael Bostic became the fifteenth president and chief executive of the Federal Reserve Bank of Atlanta in 2017. He is responsible for all the bank’s activities, including monetary policy, bank supervision and regulation, and payment services. In addition, he serves on the Federal Reserve's chief monetary policy body, the Federal Open Market Committee.
From 2012 to 2017, Bostic was the Judith and John Bedrosian Chair in Governance and the Public Enterprise at the Sol Price School of Public Policy at the University of Southern California. He arrived at USC in 2001 as a professor in the School of Policy, Planning, and Development. He was director of the university’s master of real estate development degree program and the founding director of the Casden Real Estate Economics Forecast. Bostic also served as the interim associate director from 2007 to 2009 and as the interim director from 2015 to 2016 of USC’s Lusk Center for Real Estate. From 2016 to 2017, he was chair of the center’s Governance, Management, and Policy Process department.
From 2009 to 2012, Bostic served as assistant secretary for policy development and research at the US Department of Housing and Urban Development. In that role, he was a principal adviser to the secretary on policy and research, as well as on budget and legislative proposals.
From 1995 to 2001, Bostic served at the Federal Reserve Board of Governors as an economist and then a senior economist in the monetary and financial studies section, where his work on the Community Reinvestment Act earned him a special achievement award. He acted as special assistant to HUD's assistant secretary of policy development and research in 1999 and was also a professional lecturer at American University in 1998.
Bostic was born in 1966 and grew up in Delran, New Jersey. He graduated from Harvard University in 1987 with a combined major in economics and psychology. He earned his doctorate in economics from Stanford University in 1995.
Bostic is a board member of the Lincoln Institute of Land Policy and Abode Communities and vice president of the Association of Public Policy and Management.
He has previously served on many boards and advisory committees, including the California Community Reinvestment Corporation, Abode Communities, NeighborWorks America, the National Community Stabilization Trust, the Urban Land Institute, the Consumer Financial Protection Bureau, the American Real Estate and Urban Economics Association, the National Economic Association, and Freddie Mac.
The Federal Reserve Bank of Atlanta serves the Sixth Federal Reserve District, which covers Alabama, Florida, and Georgia, as well as parts of Louisiana, Mississippi, and Tennessee. The bank has branches in Birmingham, Jacksonville, Miami, Nashville, and New Orleans.