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Congresswoman Maxine Waters

Representing the 43rd District of California

Chairwoman Waters Introduced by Dr. Raphael Bostic, President & CEO of the Federal Reserve Bank of Atlanta During Capitol Hill Reception

January 4, 2019
Press Release

Chairwoman Waters Introduced by Dr. Raphael Bostic, President & CEO of the Federal Reserve Bank of Atlanta During Capitol Hill Reception

Waters is the First Woman & First African American Chair of the Financial Services Committee; Bostic is the First African American & First Openly Gay President of a Regional Federal Reserve Bank 

WASHINGTON – In recognition of her selection as the first woman and first African American Chair of the House Financial Services Committee, Chairwoman Maxine Waters (CA-43) was introduced by the president and chief executive officer of the Federal Reserve Bank of Atlanta, Dr. Raphael W. Bostic, during a January 3 open house reception on Capitol Hill. Dr. Bostic made history as the first African American and first openly gay president of a regional Federal Reserve Bank in 2017.

“I am so delighted to have been introduced by Dr. Raphael Bostic, the president and chief executive officer of the Federal Reserve Bank of Atlanta,” said Chairwoman Waters. “Dr. Bostic has led a distinguished career as an educator, researcher and thought leader in the financial services industry. I am now the first woman and first African American to Chair the Financial Services Committee, and Dr. Bostic is the first African American and first openly gay president of a regional Federal Reserve Bank. I cannot overstate how delighted I am to join with him to make history today.”

Chairwoman Waters has served on the House Financial Services Committee since 1991. She has served as the Ranking Member or Chair of every Subcommittee under the Committee’s jurisdiction. She made history in 2012 as the first woman to serve as the Ranking Member of the full Committee. In the 116th Congress, Chairwoman Waters will continue to lead the House Democratic Caucus in fighting for policies that prioritize protecting consumers and investors from abusive financial practices; making sure there are strong safeguards in place to prevent another financial crisis; expanding and supporting affordable housing opportunities; tackling the homelessness crisis; encouraging responsible innovation in financial technology; promoting diversity and inclusion in the financial services sector; conducting appropriate oversight; and ensuring that hardworking Americans and small businesses have fair access to the financial system and opportunities to thrive.

Dr. Bostic took office as the 15th president and chief executive officer of the Federal Reserve Bank of Atlanta in June 2017. He is responsible for all the bank's activities, including monetary policy, bank supervision and regulation, and payment services. In addition, he serves on the Federal Reserve's chief monetary policy body, the Federal Open Market Committee (FOMC). Dr. Bostic previously served as the Judith and John Bedrosian Chair in Governance and the Public Enterprise at the Sol Price School of Public Policy at the University of Southern California (USC). Prior to joining USC, he was the former assistant secretary for policy development and research at the U.S. Department of Housing and Urban Development (HUD), and worked as a senior economist at the Federal Reserve Board of Governors. Dr. Bostic is a graduate of Harvard University with a combined major in economics and psychology, and earned his doctorate in economics from Stanford University.

 

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