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

Raphael W. Bostic, the president of the Federal Reserve Bank of Atlanta, has announced his retirement effective February 2025, creating another vacancy on the Federal Reserve's influential policy committee. This decision comes amid a significant campaign by Donald Trump to undermine the independence of the US central bank, raising concerns about political interference in monetary policy. Bostic's departure highlights the ongoing tensions between the Federal Reserve's mission and external pressures, particularly from political figures, which could impact the central bank's ability to operate independently.