The Federal Reserve Bank of Atlanta on Monday shattered a 104-year-old racial barrier by naming Raphael W. Bostic as its new president.
Mr. Bostic, an economist and a former housing policy official in the Obama administration, will become the first African-American to lead any of the Fed’s 12 regional reserve banks, and just the fourth to serve on its policy-making committee, which raises and lowers interest rates. Housing supporters hopes that one of his priorities will be housing.
