The Federal Reserve’s early reappointment of its regional bank presidents took markets by surprise and eased concerns the central bank would soon lose its independence as Donald Trump continues demanding steeper rate cuts.
On Thursday, the Fed announced 11 out its 12 bank presidents were re-upped, leaving out the Atlanta Fed chief role as Raphael Bostic had announced previously that he’s stepping down.
“The reappointments for 11 of the reserve bank presidents takes a risk off the table that the president or his appointment of a new chairman might disrupt the structure and governance of the system going into 2026,” Robert Eisenbeis, who previously served as director of research at the Atlanta Fed, told Fortune via email.
They're rich white people, not poor brown people.