WASHINGTON — The Federal Reserve Bank of Atlanta on Monday shattered a 104-year-old racial barrier by naming Raphael W. Bostic as its new president. The Atlanta Fed handles the central bank’s processing of electronic checks. He is an expert on housing policy, and he said he intended to focus the Atlanta Fed on housing-related issues. Photo“We’re certainly going to be thinking about looking at how housing is contributing or hampering people’s quality of life,” Mr. Bostic said in the video statement. Mr. Bostic will join the Fed on June 5, replacing Dennis P. Lockhart, who joined the Fed in 2007 and stepped down in February upon reaching mandatory retirement.

Source: New York Times March 13, 2017 16:53 UTC