The Federal Reserve Bank of Atlanta (informally the Atlanta Fed and the Bank), is the sixth district of the 12 Federal Reserve Banks of the United States and is headquartered in midtown Atlanta, Georgia.
The Atlanta Fed covers the U.S. states of Alabama, Florida, and Georgia, the eastern two-thirds of Tennessee, the southern portion of Louisiana, and southern Mississippi as part of the Federal Reserve System. Along with its Atlanta headquarters, the Banks operates five branches with the sixth district, which are located in Birmingham, Jacksonville, Miami, Nashville, and New Orleans. These branches provide cash to banks, savings and loans, and other depository institutions; transfer money electronically; and clear millions of checks.
In addition to supporting the U.S. financial system, the Atlanta Fed carries out the supervision and regulation of the banks operating within the sixth district. It also is a source of research and expertise for public and private decision makers within the district. In recent years, researchers within the Atlanta Fed have innovated new tools to gauge the health of the macro U.S. economy, the two most notable are GDPNow and Wage Growth Tracker.
The Atlanta Fed is currently led by Raphael Bostic, who was appointed in 2017 and is a member of the Federal Open Market Committee (FOMC), the committee that makes key decisions about interest rates and the growth of the United States money supply.
Responsibilities and functions
thumb|right|Federal Reserve System's Sixth District
The Atlanta Fed's footprint covers the southeastern U.S., including the states of Alabama, Florida, and Georgia, 74 counties in the eastern two-thirds of Tennessee, 38 parishes of southern Louisiana, and 43 counties of southern Mississippi as part of the Federal Reserve System. Its job is to decide the interest rates, and the president meets with other bank presidents and board members. The bank's board of directors makes recommendations on the levels of discount rates.
Secondarily, the Atlanta Fed is a source of research and expertise for public and private decision makers within the district. Researchers within the Atlanta Fed have innovated new tools to gauge the health of the macro U.S. economy, the two most notable are GDPNow Wage Growth Tracker. by financial markets.
The Wage Growth Tracker is a measure of the nominal wage growth of individuals, using microdata from the Current Population Survey (CPS) from the Bureau of Labor Statistics.
Leadership
thumb|Federal Reserve Bank of Atlanta headquarters, designed by the 2011 [[Driehaus Architecture Prize|Driehaus Prize winner Robert A. M. Stern]]
The bank is governed by a board of directors, which is drawn from the sixth district's business community, banks, and labor and consumer organizations, and makes recommendations every two weeks on the level of the discount rate, which is the rate at which the bank lends to commercial banks.
The bank's staff is led by Dr. Raphael Bostic, who was appointed in 2017
{| class="wikitable"
|-
! #
! CEO
! Life span
! Term start
! Term end
|-
|align="center" Colspan="18" style="background: #000000"|<span style="color:white">Governors</span>
|-
| 1
|Joseph A. McCord
| 1857-1943
| October 19, 1914
| January 10, 1919
|-
| 2
| Max Wellborn
| 1862-1957
| March 1, 1919
| January 1, 1928
|-
| 3
| Eugene R. Black
| 1873-1934
| January 13, 1928
| May 19, 1933
|-
| -
|bgcolor="#E6E6AA" | W.S. Johns
| -
| May 19, 1933
| August 16, 1934
|-
| 4
|bgcolor="#ddffdd" | Eugene R. Black*
| 1873-1934
| August 16, 1934
| December 19, 1934
|-
| 5
|bgcolor="#ddffdd" | Oscar Newton*
| 1877-1939
| January 10, 1935
| —
|-
|align="center" Colspan="18" style="background: #4169E1"|<span style="color:white">Presidents</span>
|-
| (5)
|bgcolor="#ddffdd" | Oscar Newton*
| 1877-1939
| —
| February 13, 1939
|-
| 6
|bgcolor="#ddffdd" | Robert S. Parker*
| 1884-1941
| February 18, 1939
| March 28, 1941
|-
| 7
| William S. McLarin Jr.
| 1889-1960
| May 9, 1941
| March 1, 1951
|-
| 8
| Malcolm H. Bryan
| 1902-1967
| April 1, 1951
| September 30, 1965
|-
| 9
| Harold T. Patterson
| 1903-1971
| October 1, 1965
| January 31, 1968
|-
| 10
| M. Monroe Kimbrel
| 1903-1971
| February 1, 1968
| March 31, 1980
|-
| 11
| William F. Ford
| -
| August 1, 1980
| October 1, 1983
|-
| 12
| Robert P. Forrestal
| 1931-2004
| December 7, 1983
| December 31, 1995
|-
| 13
| George C. "Jack" Guynn
| 1943-
| January 1, 1996
| September 30, 2006
|-
| -
|bgcolor="#E6E6AA" | Patrick K. Barron
| -
| October 1, 2006
| February 28, 2007
|-
| 14
| bgcolor="#ffe6bd" | Dennis P. Lockhart†
| 1947-
| March 1, 2007
| February 28, 2017
|-
| -
|bgcolor="#E6E6AA" | Marie C. Gooding
| -
| March 1, 2017
| June 4, 2017
|-
| 15
| Raphael Bostic
| 1966-
| June 5, 2017
| Incumbent
|}
{| class="wikitable"
|style="background-color:#E6E6AA|
|Denotes acting officeholder
|-
|style="background-color:#FFE6BD"|†
|Stepped down due to reaching retirement age
|-
|style="background-color:#ddffdd"|*
|Died in office
|}
Board of directors
The following people are on the board of directors :
{| class="wikitable sortable"
|+ Class A
! Name
! Title
! Term expires
|-
| Robert W. Dumas
|Chairman, president, CEO<br />AuburnBank<br />Auburn, Alabama
|2023
|-
| Abel L. Iglesias
| President and CEO<br />Professional Holding Corporation, Professional Bank<br />Coral Gables, Florida
|2025
|-
| Kessel D. Stelling Jr.
|Executive chair<br />Synovus Financial Corporation<br />Columbus, Georgia
|2024
|}
{| class="wikitable sortable"
|+ Class B
! Name
! Title
! Term expires
|-
|John W. Garratt
|Executive VP, CFO<br />Dollar General<br />Goodlettsville, Tennessee
|2024
|-
|Michael Russell
|CEO<br />H.J. Russell & Company<br />Atlanta, Georgia
|2025
|-
|Nicole B. Thomas
|Hospital president<br />Baptist Medical Center Jacksonville<br />Jacksonville, Florida
|2023
|}
{| class="wikitable sortable"
|+ Class C
! Name
! Title
! Term expires
|-
|Elizabeth A. Smith<br/>(chair)
|Former executive chair<br />Bloomin' Brands Inc.<br />St. Petersburg, Florida
|2023
|-
|Claire Lewis Arnold<br/>(deputy chair)
|CEO<br />Leapfrog Services Inc.<br />Atlanta, Georgia
|2025
|-
|Gregory A. Haile
|President<br />Broward College<br />Fort Lauderdale, Florida
|2024
|}
All terms expire on December 31.