Raphael Bostic is the president and chief executive officer of the Federal Reserve Bank of Atlanta. In President Bostic’s first appearance on the show, he discusses his love of birding, what that teaches him about central banking, the unique role of the Federal Reserve Bank of Atlanta, switching for FIT to FAIT back to FIT, what to do about inflation, the importance of globalization, rising fiscal pressures, and much more.   Check out the <a href= "https://www.mercatus.org/macro-musings/raphael-bostic-life-regional-fed-president-responsibilities-dual-mandate-and-results">transcript</a> for this week’s episode, now with links. Recorded on September 23rd, 2025 Subscribe to David's Substack: <a href= "https://macroeconomicpolicynexus.substack.com/">Macroeconomic Policy Nexus</a> Follow David Beckworth on X: <a href= "https://twitter.com/DavidBeckworth">@DavidBeckworth</a> Follow President Raphasel Bostic on X: <a href="https://x.com/RaphaelBostic">@RaphaelBostic</a> Follow the Federal Reserve Bank of Atlanta on X: <a href="https://x.com/AtlantaFed">@AtlantaFed</a> Follow the show on X: <a href= "https://twitter.com/Macro_Musings">@Macro_Musings</a> Check out our Macro Musings <a href= "https://www.bonfire.com/store/mercatus-podcast-swag/">merch!</a> <a href= "https://www.youtube.com/@BeckworthDavid">Subscribe</a> to David's new BTS YouTube Channel  Timestamps 00:00:00 - Intro 00:01:34 - Birding 00:06:07 - Birding's Connection to Central Banking 00:09:05 - Atlanta Fed 00:15:27 - Fed Framework Revisions 00:24:31 - Inflation 00:32:23 - Forecasted Long-Run Federal Funds Rate 00:37:43 - Globalization 00:39:13 - Fiscal Pressures 01:03:39 - Outro

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Raphael Bostic on Life as a Regional Fed President, the Responsibilities of a Dual Mandate, and the Results of the 2025 Framework Review

Macro Musings with David Beckworth

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