Raphael Bostic, president of the Federal Reserve Bank of Atlanta, is retiring at the end of his current term in February, opening up a new seat on the Fed’s interest-rate setting committee at a time t

Federal Reserve Bank of Atlanta President Raphael Bostic announced he plans to retire at the end of his current term in February.

Atlanta Federal Reserve President Raphael Bostic, the first Black and the first openly gay president of one of the Fed's 12 regional banks, said on Wednesday he will retire at the end of his current term on February 28,

Raphael Bostic, the president of the Federal Reserve Bank of Atlanta since 2017, will retire at the end of February as his term comes up for reappointment, the bank announced Wednesday morning. An open question is whether any other reserve bank presidents will follow.

The regional bank leader plans to step down when his current five-year term expires at the end of next February.

It presents an opportunity for the president, who has sought to gain more control of the central bank. But his influence is limited.

Atlanta Federal Reserve President Raphael Bostic said Wednesday he will be leaving his position when his term expires in February.

Raphael Bostic, president of the Federal Reserve Bank of Atlanta, will retire at the end of his current term in February, opening up a new seat on the Fed's interest-rate setting committee at a time that President Donald Trump is seeking to exert more control over the central bank.