Fed’s Bostic Says Doubts Over Independence a Major Concern

Federal Reserve Bank of Atlanta President Raphael Bostic published a farewell essay Wednesday in which he aired his concern that Americans have started to question the central bank’s independence, a position that needs to be safeguarded.

“My travels over the past several months have made clear that the legal and rhetorical battles raging around the central bank right now have caused people across a wide cross-section of our population to begin to doubt the Fed’s independence,” Bostic said in the essay. “This is a major concern.”

Federal Reserve Bank of Atlanta President and CEO Raphael Bostic

Photographer: Dustin Chambers/Bloomberg

The US central bank has faced unprecedented pressure to lower interest rates from ...