Atlanta Fed seeks new president committed to maintaining central bank independence — Bloomberg

Investing.com - The head of the Atlanta Federal Reserve Bank Search Committee said Tuesday in an interview with Bloomberg that the bank will prioritize candidates who can defend the independence of the central bank when looking for a new president.

Atlanta Fed Board Chair Gregory Heller stated that the committee is ensuring candidates understand the value of Fed independence and can make decisions in the long-term interest of the country. This search comes a year after President Donald Trump called for lower interest rates and attempted to dismiss at least one policymaker.

Rafael Bostic’s term as Atlanta Fed president expires at the end of February, and he previously chose not to seek a second term. The Atlanta Fed is conducting a nationwide search, not limited to residents within the district.

The bank dismissed Trump’s proposal for regional presidents to be selected from residents of each district. Heller said the search committee aims to keep the process as open as possible and avoid excluding anyone.

Heller stated that, from the committee’s perspective, the most important criterion is to prioritize candidates willing to learn about the diverse communities and businesses within the district.

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