The Atlanta Fed's Board of Directors has initiated the search for the next Chair.

BlockBeats News, December 16th, following the news that current Chair Bostic will retire at the end of February, the Atlanta Fed's Board of Directors has initiated the search for the next Chair.

According to the Federal Reserve Act, the regional Fed Chair is elected by the bank's Class B and Class C directors, those who are not affiliated with regulated financial institutions, and the final candidate must receive approval from the Washington Federal Reserve Board.

The Atlanta Fed Chair will become the voting member of the Federal Open Market Committee (FOMC) responsible for setting interest rates in 2027. (Jinse)