US: The Great Federal Re-Opening of 2025, When Will We Have Reports?

FED GOV WALLER'S EXTEMPORANEOUS REMARKS LIMITED TO PAYMENTS SYSTEM, NOT MONPOL OR CURRENT ECONOMY #Waller #payments #fintech #economy FED'S WALLER: GOAL FOR NEW PAYMENT ACCOUNT IS TO BE OPERATIONAL BY Q4 2026

Dr. Raphael W. Bostic, president and chief executive officer of the Federal Reserve Bank of Atlanta, today announced his intention to retire at the end of his current term, which officially concludes on February 28, 2026. President Bostic has served with distinction since June 5, 2017, as the 15th president and chief executive officer of the Atlanta Fed. He is the first African American and openly gay president of a regional Federal Reserve Bank in its 111-year history. "It's been my distinct honor and privilege to lead the Atlanta Fed for these past eight and a half years. I feel incredibly fortunate to have worked with the Atlanta Fed's outstanding staff to fulfill the Federal Reserve's mission and serve the Sixth District and the American people," Bostic said while reflecting on his term as president. "I'm proud of what we accomplished during my tenure to turn the lofty goal of an economy that works for everyone into more of a reality, and I look forward to discovering new ways to advance that bold vision in my next chapter." In his role, President Bostic is responsible for overseeing all of the Bank's activities, including monetary policy, bank supervision, and payment services. He serves on the Federal Open Market Committee, the monetary policymaking body of the Federal Reserve System. "It has been a privilege to serve alongside President Bostic," Federal Reserve Board Chair Jerome H. Powell said. "His perspective has enriched the Federal Open Market Committee's understanding of our dynamic economy. And his steady voice has exemplified the best of public service—grounded in analysis, informed by experience, and guided by purpose. His leadership has strengthened our institution and advanced the Federal Reserve's mission." The Federal Reserve Bank of Atlanta's board of directors will form a search committee comprised of non-banking members of the Atlanta Fed's board of directors to conduct a nationwide search for the next president of the Federal Reserve Bank of Atlanta, consistent wi Atlanta Fed: Fed's Bostic to retire on February 28th, 2026, at the end of his current five-year term. The Atlanta Fed will form a search committee for Fed's Bostic's successor.

*BOSTIC: MOVING POLICY LOWER RISKS FEEDING 'INFLATION BEAST' *BOSTIC: LABOR MARKET SHIFTING BUT NOT CLEARLY WEAKENING *BOSTIC: PRICE STABILITY STILL CLEARER, URGENT RISK FACING FED Weighing the Risks: Why Inflation Tips the Scales Thank you for inviting me to be with you. I especially enjoyed the short trip to the venue. At the Atlanta Fed, we are honored to serve as regular host to the Atlanta Economics Club monthly meetings. My staff and I appreciate the work you do to advance the understanding and practice of economics. Before I dive into my remarks, let me remind you that these thoughts are mine and do not necessarily reflect the views of my colleagues on the Federal Open Market Committee (FOMC) or at the Atlanta Fed. Today, I will detail my economic and monetary policy outlook through the lens of the objectives Congress assigned the Federal Reserve: price stability and sustainable maximum employment. Let me set the stage by sharing that I believe that risks to both of the mandated objectives make this the most challenging environment since I became a central banker in 2017. In this moment, we face the difficult circumstances of softening labor market conditions while inflation remains materially above the FOMC's stated 2 percent objective. The unwelcome implication is that reductions in interest rates that normally would mitigate risks to the employment mandate could heighten the risks to the price stability mandate. And vice versa: maintaining moderately restrictive monetary policy, the typical tool in battling inflation, raises the risks to the employment mandate. The job of an FOMC participant is to confront this tension and weigh the trade-offs inherent in determining the appropriate setting for monetary policy. Right now, it is an extremely close call. But I'm going to detail my case that, despite shifts in the labor market, the clearer and urgent risk is still price stability. Let me preface the meat of my talk by noting that we've missed some data releases because of the federal government shutdown. We are not flying blind, however, and I'll discuss some of the alternative information sources guiding my policy thinking right now. Fed's Bostic: I do not view a severe labor market downturn as the most likely near-term outcome.