Atlanta Fed Presidential Search: What to Know

The Federal Reserve Bank of Atlanta is conducting a search for its next president and chief executive officer. Here’s everything you need to know about the process:

What is the Federal Reserve Bank of Atlanta?

The Federal Reserve Bank of Atlanta is part of the Federal Reserve System, which includes 12 independent regional Reserve Banks, located across the United States, as well as the Federal Reserve Board of Governors in Washington, DC. Each Reserve Bank brings distinct data and perspectives from their regions to the Board of Governors, so the economic experiences of all Americans are represented in the formation of monetary policy.

Our public service mission is to strengthen the economy and our communities by fostering the stability, integrity, and efficiency of our nation's monetary, financial, and payments systems. We are nonpartisan and decentralized by design to conduct monetary policy that is in the long-run, best interest of the economy.

The Atlanta Fed’s territory covers the Sixth Federal Reserve District, which includes Alabama, Florida, and Georgia, and portions of Louisiana, Mississippi, and Tennessee. We have branches in Birmingham, Jacksonville, Miami, Nashville, and New Orleans.

Why is the Atlanta Fed looking for a new president?

Dr. Raphael Bostic retired at the end of his term, which officially concluded on February 28, 2026. He served with distinction after becoming the 15th president and CEO of the Atlanta Fed on June 5, 2017. Bostic was the first African American and openly gay president of a regional Federal Reserve Bank in its 111-year history.

What is the role of the Federal Reserve Bank president?

The president of a Federal Reserve Bank is the chief executive officer of the Bank. The president is responsible for overseeing all of the Bank's activities, including economic research and payments services. In addition, the president serves on the Federal Reserve's chief monetary policymaking body, the Federal Open Market Committee.

How are Federal Reserve Bank presidents selected?

The process for selecting a Federal Reserve Bank president is set forth in the Federal Reserve Act.

To conduct the search, the Reserve Bank's board of directors forms a search committee composed of Class B and C directors (those directors who are not bankers). Next, the committee hires a search firm to help identify a broad, highly qualified candidate pool. The committee considers a large, nationwide pool of candidates—both within and outside the Federal Reserve System—who meet the position's qualifications.

Appointments are subject to the approval of the Federal Reserve Board of Governors, who interview the final candidate. Following this approval, the Bank's Class B and C directors then formally appoint a candidate.

For more details, see the Board of Governors FAQs.

Who are the 12 current Federal Reserve Bank presidents?

1. Boston (First District): Susan M. Collins
2. New York (Second District): John C. Williams
3. Philadelphia (Third District): Anna L. Paulson
4. Cleveland (Fourth District): Beth M. Hammack
5. Richmond (Fifth District): Thomas I. Barkin
6. Atlanta (Sixth District): Cheryl Venable (interim)
7. Chicago (Seventh District): Austan D. Goolsbee
8. St. Louis (Eighth District): Alberto G. Musalem
9. Minneapolis (Ninth District): Neel Kashkari
10. Kansas City (Tenth District): Jeffrey R. Schmid
11. Dallas (Eleventh District): Lorie K. Logan
12. San Francisco (Twelfth District): Mary C. Daly

Map of the twelve Federal Reserve Districts: Federal Reserve Board - Federal Reserve Banks

What are the responsibilities of the president, and what attributes are you looking for in a new Federal Reserve Bank president?

The Board of Governors website describes the responsibilities and notes that the Federal Reserve Banks seek candidates who can:

• guide the focus of the Bank's economic research and gather economic intelligence through interactions with the Bank's board of directors and other business and community contacts,
• provide keen insights to Federal Open Market Committee policy discussions,
• communicate clearly about monetary policy,
• be a strong chief executive officer of the Bank,
• ensure that the Bank maintains an effective system of bank supervision by faithfully carrying out its delegated authority from the Board of Governors, and
• make strong personal contributions to matters requiring collective System action or direction.

How long do Federal Reserve Bank presidents serve?

The president of a Federal Reserve Bank is appointed for a term of five years. The terms of all the presidents of the 12 District Banks run concurrently, ending on the last day of February of years numbered 6 and 1 (for example, 2026 and 2031). The appointment of a president who takes office after a term has begun ends upon the completion of that term. A president of a Reserve Bank may be reappointed after serving a full term or an incomplete term. Reserve Bank presidents are subject to mandatory retirement at 65 years of age. However, presidents initially appointed after age 55 can, at the option of the board of directors, be permitted to serve until attaining 10 years of service in the office or age 75, whichever comes first.

How much does a president of a Federal Reserve Bank make?

It depends. Salaries vary by District location and are paid by each regional Reserve Bank, not the Federal government.

For specific figures, salary information can be found in the appendix in the Board of Governors’ Annual Report on federalreserve.gov. The appendix includes 13 statistical tables that provide data concerning Board and System operations and activities.

What is the timeline for selecting a Federal Reserve Bank president?

The search committee will identify the most highly qualified pool of candidates. There is not a predetermined timeline. What is most important is that the search committee identify the most highly qualified candidates and follow a defined process in consultation with the Board of Governors.

Since a new president was not appointed by February 28, 2026, First Vice President Cheryl Venable will serve as interim president until the appointment process for a new president is completed.

How is the Atlanta Fed updating the public on its presidential search process?

The Atlanta Fed is committed to fostering a transparent and accessible search process. Vist 2026 Atlanta Fed Presidential Search for periodic updates, FAQs, opportunities to share input, and more. Updates will also be shared via the Bank’s social media channels.

In March 2026, the Bank hosted a live public forum to provide updates on the search. Greg Haile, chair of the Atlanta Fed board of directors and presidential search committee, and Jimmy Etheredge, deputy board chair and search committee member, outlined the selection process and qualities sought in an ideal candidate. They also shared insights from the Bank's community survey and listening sessions and engaged in a Q&A with attendees. A full recording of the event is available on the Bank’s presidential search page.

How can the public provide input on the Atlanta Fed's presidential search process?

The Bank encourages and is providing opportunities for public input, questions, and candidate nominations throughout the search process. In February 2026, the search committee held listening sessions with Atlanta Fed Branch boards of directors, regional industry leaders, and advisory councils representing the Southeast. In addition, the committee hosted more stakeholder meetings and conducted staff and public community surveys.

Members of the public who have questions about the search process or would like to share general feedback are invited to email PresidentialSearch@atl.frb.org.

How can I apply for or recommend someone for the position?

The Atlanta Fed—in partnership with Heidrick & Struggles, the executive search firm assisting with the search—is actively welcoming nominations and expressions of interest. Candidates are invited to submit a cover letter outlining their interest in the position and relevant qualifications, along with a resume or curriculum vitae. See the full position specification. All communications will be kept strictly confidential.

Please direct all nominations and applications to FedAtlantaPresident@heidrick.com.