The Federal Reserves governing board has unanimously reappointed nearly all of its twelve regional bank presidents, including the Atlanta Feds current president, Raphael Bostic, who is stepping down. This decision comes amidst increased scrutiny from the Trump administration, which has sought greater influence over the central bank. The reappointments were routine, but this years approval gained more attention due to the administrations efforts. The boards unanimous vote indicates that even the three Fed officials appointed by Trump supported these reappointments. Treasury Secretary Scott Bessent announced plans to push for a new requirement that future regional bank presidents should live in their districts for at least three years before their appointment. This new rule would apply only to future appointments, not to current presidents. The presidents of the Cleveland, Dallas, and St. Louis Fed banks all previously worked in New York City before taking on their current roles.

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