Statement by Congressman Dan Kildee on Raphael Bostic Being Named President of the Federal Reserve Bank of Atlanta

March 14, 2017

Congressman Dan Kildee (MI-05), the Vice Ranking Member of the U.S. House Financial Services Committee, issued the following statement after Raphael Bostic was named the President of the Federal Reserve Bank of Atlanta, becoming the first African-American to lead one of the Fed’s 12 regional banks:

“Raphael is an excellent choice to lead the Federal Reserve Bank of Atlanta. Having had the opportunity to work with Raphael on housing and urban policy issues before coming to Congress, I know he is a well-suited and capable leader that understands how monetary policy affects real people’s lives.

“Raphael’s appointment is historic: he becomes the first African-American to lead one of the Federal Reserve’s regional banks, shattering a 104-year-old barrier faced by so many others before him. Raphael’s appointment is a major step forward in ensuring that the Federal Reserve reflects the diversity of America. I congratulate Raphael on his appointment and I look forward to continuing to work with him.”

In May 2016, Congressman Kildee wrote a letter to Federal Reserve Chairwoman Janet Yellen concerned with the lack of diversity at the Federal Reserve.

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