University of Southern California professor Raphael Bostic become the first African-American president of one of the 12 Federal Reserve regional banks Monday with his new post at the Federal Reserve Bank of Atlanta, reports the Los Angeles Times.
From Los Angeles Times:
The choice of Bostic, director of the Bedrosian Center on Governance at USC’s Sol Price School of Public Policy, comes after members of Congress and advocacy groups have sharply criticized the central bank for a lack of diversity. They had pushed for a diverse choice to head the Atlanta region, in part because it has a large African American population.
“It’s not lost on me that I …am the first African American to lead a Federal Reserve institution,” he [Bostic] said in a short video released by the Atlanta Fed. “It’s kind of daunting. It’s an overwhelming thought. It’s a tremendous privilege. I look forward to this being a stepping stone for many others to have this opportunity as well.”
…The job involves overseeing about 1,700 employees in the Atlanta region — Alabama, Florida, Georgia and parts of Louisiana, Mississippi and Tennessee — and participating in monetary policy deliberations in Washington.
Bostic will join the Fed on June 5.
USC Professor Makes History As First Black President Of A Fed Regional Bank was originally published on newsone.com
Be Careful When Shopping At Temu
Social Media Reacts To ‘Shocking’ New Mugshot As Tory Lanez Transferred To State Prison
Nicki Minaj’s Husband Kenneth Petty Gets House Arrest, Clowned On Social Media
Man Arrested In Tupac Murder Case, Social Media Has Questions
Sept. 18th is National Cheeseburger Day: Here Are 10 Delicious Burger Deals
The Streets Think Remy Ma Allegedly Cheated On Papoose With A Battle Rapper
[VIDEO] Man Punched For Yelling During Beyonce Mute Challenge In Houston
27 Insane Pictures Of Iggy Azalea’s Booty (PHOTOS)