Federal Reserve Board Reappoints 11 Regional Bank Presidents to New Five-Year Terms

The Board of Governors of the Federal Reserve System voted unanimously on 11 December 2025 to reappoint eleven of the twelve Federal Reserve Bank presidents to new five-year terms beginning 1 March 2026, according to a press release published on the Federal Reserve's website. The lone exception was Atlanta Federal Reserve Bank President Raphael Bostic, who had previously announced his intention to retire from the role and was therefore not a candidate for reappointment.

Regional bank presidents participate actively in FOMC deliberations and, on a rotating basis determined by district groupings, hold formal voting rights on interest rate decisions.

REVIEW PROCESS AND GOVERNANCE FRAMEWORK

Each reappointment followed a performance review conducted by the respective Reserve Bank's Board of Directors, in accordance with the governance requirements of the Federal Reserve Act. Under that statutory framework, class B and class C directors — who represent the public interest and are not affiliated with member commercial banks — lead the evaluation and reappointment process for each district president. The Board of Governors in Washington must then separately approve any reappointment before it becomes effective.

The new five-year terms run from 1 March 2026 to 28 February 2031.

BOSTIC RETIREMENT CREATES ATLANTA VACANCY

Raphael Bostic's impending departure from the Atlanta Fed creates the only presidential vacancy in the regional system following the completion of this reappointment round. Bostic has served as President and Chief Executive Officer of the Federal Reserve Bank of Atlanta since 2017, becoming the first Black chief executive in the Federal Reserve System's more than century-long history.

The Atlanta Fed oversees the Sixth Federal Reserve District, which covers Alabama, Florida, Georgia, and portions of Louisiana, Mississippi, and Tennessee.