Federal Reserve Bank of Atlanta


The Federal Reserve Bank of Atlanta,, 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 Dr. Raphael Bostic, who was appointed in 2017 and is member of the Federal Open Market Committee, the committee that makes key decisions about interest rates and the growth of the United States money supply.

Responsibilities and functions

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.
The Atlanta Fed, along with the other 11 regional district banks, has three primary functions: assisting with monetary policy, operation of nationwide payment system, and administering bank supervision and regulation. 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. The Atlanta Fed's GDPNow, which is a "nowcasting" model for gross domestic product growth that synthesizes the related GDP subcomponents with monthly source data prior to the formal GDP release by the Bureau of Economic Analysis, is widely followed by financial markets.
The Wage Growth Tracker is a measure of the nominal wage growth of individuals, using microdata from the Current Population Survey from the Bureau of Labor Statistics.

Leadership

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 and is member of the Federal Open Market Committee.

Governors and presidents

With the appointment of President Bostic in 2017, there have been 15 chief executive officers of the Atlanta Fed. The title of Reserve Bank chief executive officer was changed to president by the Banking Act of 1935.
#CEOLife spanTerm startTerm end
Governors----
1Joseph A. McCord1857-1943October 19, 1914January 10, 1919
2Max Wellborn1862-1957March 1, 1919January 1, 1928
3Eugene R. Black1873-1934January 13, 1928May 19, 1933
4W.S. Johns-May 19, 1933August 16, 1934
-Eugene R. Black*1873-1934August 16, 1934December 19, 1934
5Oscar Newton1877-1939January 10, 1935February 14, 1936
Presidents----
-Oscar Newton*1877-1939February 14, 1936February 13, 1939
6Robert S. Parker*1884-1941February 18, 1939March 28, 1941
7William S. McLarin Jr.1889-1960May 9, 1941March 1, 1951
8Malcolm H. Bryan1902-1967April 1, 1951September 30, 1965
9Harold T. Patterson1903-1971October 1, 1965January 31, 1968
10M. Monroe Kimbrel1903-1971February 1, 1968March 31, 1980
11William F. Ford-August 1, 1980October 1, 1983
12Robert P. Forrestal1931-2004December 7, 1983December 31, 1995
13George C. "Jack" Guynn1943-January 1, 1996September 30, 2006
14Dennis P. Lockhart†1947-March 1, 2007February 28, 2017
15Raphael Bostic1966-June 5, 2017incumbent

Board of directors

The following people are on the board of directors as of 2016:

Class A

Class B

NameTitleTerm Expires
Elizabeth A. SmithChairman and CEO
Bloomin' Brands, Inc.
Tampa, Florida		2018
Jonathan T.M. ReckfordCEO
Habitat for Humanity International
Atlanta, Georgia		2017
José S. SuquetChairman, President, and Chief Executive Officer
Pan-American Life Insurance Group
New Orleans, Louisiana		2016

Class C

NameTitleTerm Expires
Thomas A. Fanning
Chairman, President, and Chief Executive Officer
Southern Company
Atlanta, Georgia		2018
Myron A. GrayPresident, U.S. Operations
United Parcel Service
Atlanta, Georgia		2017
Michael J. Jackson
Chairman and CEO
AutoNation, Inc.
Fort Lauderdale, Florida		2016

All terms expire on December 31.

Headquarters

Since 2001, the Atlanta Fed has been located at 1000 Peachtree Street NE in Midtown Atlanta. Prior to 2001, the bank was located in downtown Atlanta at 104 Marietta Street NW, which is now the home of the State Bar of Georgia.

Branches