Professor (on leave)
Judith and John Bedrosian Chair in Governance and the Public Enterprise, 2012-2017
Ph.D. in Economics
Dr. Raphael Bostic is President and CEO of the Federal Reserve Bank of Atlanta.
Dr. Bostic served for 3 years in the Obama Administration as the Assistant Secretary for Policy Development and Research at the U.S. Department of Housing and Urban Development. In that Senate-confirmed position, Dr. Bostic was a principal advisor to the Secretary on policy and research, with the goal of helping the Secretary, and other principal staff, make informed decisions on HUD policies and programs, as well as budget and legislative proposal. Bostic led an interdisciplinary team of 150 which had expertise in all policy areas of importance to the department, including housing, housing finance, rental assistance, community development, economic development, sustainability, and homelessness, among others. During his tenure and with his leadership, PD&R funded more than $150M in new research, became an important advisory voice on departmental budget and prioritization decisions, and reestablished its position as a thought leader on policies associated with housing and urban development.
Dr. Bostic arrived at USC in 2001, where he served as a professor in the University of Southern California’s School of Policy, Planning, and Development. His work spans many fields including home ownership, housing finance, neighborhood change, and the role of institutions in shaping policy effectiveness. A particular emphasis has been on how the private, public, and non-profit sectors interact to influence household access to economic and social amenities. His work has appeared in the leading economic, public policy, and planning journals. He was Director of USC’s Master of Real Estate Development degree program and was the founding director of the Casden Real Estate Economics Forecast. Prior to that, he worked at the Federal Reserve Board of Governors, where his work on the Community Reinvestment Act earned him a Special Achievement Award.
He was named the Judith and John Bedrosian Chair in Governance and the Public Enterprise and director of the Bedrosian Center on Governance at the Price School of Public Policy in 2012. Since 2016, Dr. Bostic has served as the chair of the Governance, Management and Policy Process department.
In an earlier stint at HUD, Dr. Bostic served as a special assistant to Susan Wachter when she served as the Assistant Secretary for PD&R. He earned his Ph.D. in Economics from Stanford University and his BA from Harvard University.
Beginning June 2017, Dr. Bostic will transition to a 5-year appointment as President & CEO of the Federal Reserve Bank of Atlanta.