Atlanta Fed chair steps down as Trump attacks central bank’s independence

Raphael Bostic, president of the Federal Reserve Bank of Atlanta, in Red Bay, Alabama, on 13 August 2025. Photograph: Bloomberg/Getty Images

The head of the Federal Reserve Bank of Atlanta announced plans to step down amid an extraordinary campaign by Donald Trump to exert influence over the US central bank.

Raphael W Bostic, president of the Atlanta Fed, will retire from the role in February – creating another vacancy on the Fed’s powerful policy committee.