Federal Reserve Hawkish General Bosstick Suddenly Announces Retirement

BlockBeats News, November 13th, according to a report from the "Federal Reserve Whisperer" Nick Timiraos, Atlanta Fed President Raphael Bostic announced on Wednesday that he will retire at the end of his current five-year term in late February next year.

Reportedly, Bostic's departure will weaken the hawkish voice within the Fed during a politically sensitive period. This chairman, who has never cast a dissenting vote on policy decisions, typically aligns closely with the core of the interest rate-setting committee.

Three years ago, Bostic came under scrutiny for not fully complying with senior official disclosure rules regarding personal financial transactions. At that time, he still received the Board's support. Two other Fed presidents resigned in 2021 after being reviewed for financial disclosure issues. Fed insiders believe that the financial restatement incident has cast doubt on Bostic's reappointment prospects, especially against the backdrop of ongoing challenges to the Fed's credibility by Trump and his allies. This year, the Fed has faced unprecedented political pressure from the Trump administration for not pursuing more aggressive interest rate cuts.

Speaking at an Atlanta Economics Club luncheon on Wednesday, he bluntly stated that while slowing job growth adds decision-making complexity, inflation remains a "more clear and present danger," and warned that pushing rates to a neutral or stimulative level "could inject fresh blood into the inflation beast." He did not mention his retirement decision in the speech.