Federal Reserve Reappoints All Regional Bank Presidents to New 5-Year Terms

The Federal Reserve’s regional bank presidents rotate one-year terms as voting members of the the central bank’s rate-setting committee. (Andrew Harnik/Getty Images)

Key Points

• The Federal Reserve unanimously reappointed all regional Reserve Bank presidents to new five-year terms starting March 1, 2026.
• The reappointments follow speculation that the Trump administration might attempt to reshape the central bank’s regional leadership.
• Raphael Bostic will retire as president of the Federal Reserve Bank of Atlanta at the end of his current term in late February 2026.

The Federal Reserve unanimously reappointed all regional Reserve Bank presidents on Thursday to new five-year terms beginning March 1, 2026.

The decision follows a review by each regional bank’s board of directors, which spent the past year evaluating the presidents’ leadership and their engagement with business and civic communities in their districts. The Fed’s Board of Governors voted to approve every president for a new term, which extends through early 2031.

The announcement follows speculation that the Trump administration might try to reshape the central bank’s regional leadership. Treasury Secretary Scott Bessent and Kevin Hassett, a close economic advisor to President Donald Trump who is currently considered the front-runner to replace Fed Chair Jerome Powell in May, have both suggested the central bank should require regional Fed presidents to live three years in their region before being able to serve. Others had speculated that Trump-aligned governors might object to specific reappointments.

The announcement also arrives before the Supreme Court will hear arguments in the case involving Fed Gov. Lisa Cook next month and review the circumstances of Trump’s attempt to fire her from the board earlier this year.

The slate of presidents include Susan Collins in Boston; John Williams in New York; Anna Paulson in Philadelphia; Beth Hammack in Cleveland; Thomas Barkin in Richmond; Austan Goolsbee in Chicago; Alberto Musalem in St. Louis; Neel Kashkari in Minneapolis; Jeffrey Schmid in Kansas City; Lorie Logan in Dallas; and Mary Daly in San Francisco. First vice presidents across the system were also reappointed.

Williams, Paulson, Hammack, and Logan will vote on Fed policy decisions in 2026. The regional bank presidents rotate one-year terms as voting members of the Fed’s rate-setting committee.

Raphael Bostic will retire as president of the Federal Reserve Bank of Atlanta at the end of his current term in late February 2026.

Write to Nicole Goodkind at nicole.goodkind@barrons.com.