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Posts tagged as “Raphael Bostic”

University of Michigan Economist Susan M. Collins to Become President and CEO of the Federal Reserve Bank of Boston

University of Michigan Economist Susan M. Collins to Become President and CEO of the Federal Reserve Bank of Boston

By goodblacknews on March 7, 2022

University of Michigan economist and executive vice president of academic affairs Susan M. Collins will be the next president and chief executive officer of the Federal Reserve Bank of Boston, taking office on July 1.

Collins will be only the second Black president and first Black woman to head one of the 12 Federal Reserve banks in the century-plus history of the institution. Raphael Bostic, the Federal Reserve Bank of Atlanta president, was the first Black person ever to lead a reserve bank.

“It is an honor and an inspiration to serve as the Boston Fed’s next president,” Professor Collins said. “Throughout my career, I have been driven by a commitment to leveraging research, education, and public service to improve lives. I look forward to helping the Bank and System pursue the Fed’s dual mandate from Congress – achieving price stability and maximum employment.”

Dr. Collins added that “I am also inspired by the portfolio of important and innovative work underway at the Boston Fed,” Collins said. “I am delighted with the opportunity to lead such a dynamic organization, engage with its talented staff, and work with its constituents – to understand their economic challenges and help explain the work of the Fed in the economy. It will also be a pleasure to return to Greater Boston and New England.”

USC Professor Raphael Bostic Named 1st African American President of a Federal Reserve Regional Bank

By goodblacknews on March 13, 2017

Raphael Bostic (photo via latimes.com)

article by Jim Puzzanghera via latimes.com
USC professor Raphael Bostic made history on Monday when he was named president of the Federal Reserve Bank of Atlanta, becoming the first African American to lead one of the Fed’s 12 regional banks. The choice of Bostic, 50, director of the Bedrosian Center on Governance at USC’s Sol Price School of Public Policy, comes after members of Congress and advocacy groups have sharply criticized the central bank for a lack of diversity.
They had pushed for a diverse choice to head the Atlanta region, in part because it has a large African American population. Bostic acknowledged the significance of his appointment, which he said “is a very big deal” that made him the answer to a “Jeopardy” question.
“It’s not lost on me that I …am the first African American to lead a Federal Reserve institution,” he said in a short video released by the Atlanta Fed. “It’s kind of daunting. It’s an overwhelming thought. It’s a tremendous privilege.” “I look forward to this being a stepping stone for many others to have this opportunity as well,” Bostic said.
Rep. Maxine Waters (D-Los Angeles), who was among four prominent African American House members who urged a diverse choice for the Atlanta position, hailed Bostic as an “outstanding choice” and called his selection a “long-awaited first step towards building diversity among the Federal Reserve’s senior leadership.”
Bostic’s appointment was approved by the Atlanta Fed’s board of directors and the Board of Governors in Washington. He will take over on June 5, succeeding Dennis Lockhart, who announced his resignation in September and stepped down on Feb. 28.
The job involves overseeing about 1,700 employees in the Atlanta region — Alabama, Florida, Georgia and parts of Louisiana, Mississippi and Tennessee — and participating in monetary policy deliberations in Washington.
To read full article, go to: USC professor named first African American president of a Fed regional bank – LA Times