Good morning, everybody. How are we today? We good over here? We bad over here. All right, that's all good. My name is Kenneth Grant, a first-year business administration student with a concentration in management. And happy Freedom Rise Week.
On behalf of the Clark Atlanta University School of Business, welcome to the Dolores P. Aldridge Auditorium. We are honored to gather you here today for this culminating event of a week dedicated to advancing financial freedom, economic empowerment, and purposeful leadership. Freedom Rise Week is held in tribute to National Freedom Day, a national observance championed by the institution's first valedictorian and the founder of the National Bankers Association, Major Richard Robert Wright. Let's give it up for Major Wright, guys. His legacy reminds us that freedom once declared must be sustained through education, enterprise, and economic self-determination. So today's program marks the inaugural session of Executive Insights with Dean Udoka, our signature conversation with leaders shaping the economic global landscape. It is only fitting that today at an institution that has launched one of the nation's first business colleges in 1883 and the world's first graduate business school out of an HBCU in 1946. Isn't that remarkable? To bring us official greetings on behalf of the School of Business leadership, please welcome to the stage Assistant Dean, Program Director of Sports Entertainment Management, Dr. Marisha Henderson.
Thank you, Kenneth. And thank you everyone for attending today. I love to see a packed house. Welcome to our guests to Clark Atlanta University. Today we gather at a powerful intersection of history and purpose. In the aftermath of the Civil War, a young student was asked by a visiting Union general what message should be sent north. That student, who would later become valedictorian of our first graduating class in 1876, was Major Richard Robert Wright. His reply was simple and enduring: 'Sir, tell them we are rising.' For Major Wright, rising was not a slogan. It was a strategic mandate rooted in education and economic independence. He lived that mandate as the first African-American paymaster in the United States Army, as a founder and president of a historic HBCU, and later as a pioneering banker and economic leader. His name now graces Wright Young Hall, home of our School of Business, and his legacy continues to inspire our work. It is in that spirit of excellence, service, and resolve that I welcome you to this historic campus during this special observance of Freedom Rise Week. As we reflect on the legacy of those who paved the way before us, we are also reminded of our responsibility to those who will come after. We encourage all of our supporters to continue supporting Clark Atlanta University School of Business through mentorship, engagement, and giving. When we give back, we ensure that future generations will have the same opportunities to rise, lead, and transform communities around the world. Thank you very much.
All right. Thank you, Dr. Henderson. Let's give it up one more time for her. In spirit of our uplift values, we pause to recognize the distinguished community gathered here today. We are honored to welcome members of our university leadership, our board of trustees, elected officials, and representatives of the National Bankers Association with the National HBCU Business Deans Roundtable. We are especially proud to be joined by our alumni, the giants upon whose shoulders we stand, and along with our corporate partners and sponsors whose support extends our impact. At this time, I ask all visiting dignitaries and alumni and special guests to please stand and remain standing so we may acknowledge your presence and partnership. Thank you for joining us at this historic launch. You may be seated. We also wanted to give a special thank you to our very own CAU for assisting with the live stream and recording of this event. And now to speak at the heart and future of this celebration, please welcome my classmate and fellow Toastmaster, Sanjari Walters-Gene Jerome. She will be followed by a special announcement from one of our graduating graduate students, Nia Dennis.
Sanjari Walters-Gene Jerome
10:30 ↗
Good morning everybody. My name is Sanjari Walters-Gene Jerome, a junior business administration scholar with a concentration in marketing. As has been shared, Major Wright's call to rise was a lifelong mandate. In 1941, that mandate led him to Philadelphia, where he founded a bank, helped organize the National Trade Association, and established the National Freedom Day Association to ensure that the nation never forgot February 1st, 1865, the day President Abraham Lincoln signed the 13th Amendment. In 1948, President Harry S. Truman signed legislation officially designating February 1st as National Freedom Day, the essential precursor to Black History Month. Major Wright understood that while law can declare freedom, only economic self-determination can sustain it. At the School of Business, we carry that mantle forward through Freedom Rise Week through enterprising ingenuity, our signature approach to teaching, learning, and leading. It is a mindset of 'I will find a way or make one,' transforming complex challenges into impactful opportunities. As CAU Business Panthers, we live this work through a culture of service and a shared commitment to always uplift in business and life. For us, uplift means to unabashedly persevere, prosper with purpose, lead with integrity, innovate with ingenuity, foster fairness, and think globally. As Business Panthers, we make dollars, sense, and change for a better world. And today and every day, we are always rising. Thank you.
Thank you for sharing that important history. Good morning everyone. My name is Nia Dennis and I'm a first-year MBA candidate concentrating in marketing. And as we celebrate Freedom Rise Week, it is important to remember our founding institutions. Atlanta University, founded in 1865, and Clark College, established as Clark University in 1869, laid the foundation for education, leadership, and service that continues to shape who we are today as Clark Atlanta University. That legacy took form in business education when Clark College launched one of the nation's first business colleges in 1883 and expanded further in 1946 when Atlanta University established the world's first graduate business school at a historically black college or university. As today's gathering marks the high point of our Freedom Rise Week, it also officially begins the countdown to an important milestone next fall, Legacy Days 2026. Celebrating a legacy that spans generations, Legacy Days is the school's annual anniversary tradition held each year between our foundational dates of September 25th through October 5th. This year's theme, 'Reflect, Remember, and Rise,' marks the 80th anniversary of our graduate business program. We invite you to save the date. Stay tuned for future celebration updates and support the festivities by visiting www.cau.edu. Our legacy lives through you and the countdown to the future has already begun. On the screen behind us, you will see the countdown to Legacy Days, the week-long celebration honoring the three defining pillars of the CAU School of Business: First in Business 1883, Graduate Excellence 1946, and our Future Forward Vision 1989. So in 7 months, 19 days, 18 hours, and 45 minutes, we will come together once again to remember, reflect, and rise. Remembering where we've been, who we are, and where we are boldly going next. We invite you to be a part of this celebration. Thank you.
All right. And now, as we prepare for a landmark Executive Insights conversation, please join me in welcoming the Dean of the Clark Atlanta University School of Business, Dr. Sylvanus J. Udoka.
Kenneth, well done. Thank you. So proud of you. As Dean, it is my distinct honor to introduce today's guest of honor. As I do, I invite the representatives from the National Bankers Association, Miss Cynthia Day and Mr. Robert James, the representative from the National HBCU Business Deans Roundtable, in this case, Dr. Ed Davis, and he also served the dual role of being a faculty member, a past dean, and a past Milton Wright Medallion honoree. So all of you, Miss Day, Mr. Jones, and Dr. Davis, please join me. It is rare to encounter a leader whose career fully embodies the spirit of rising like Major Wright before him. Today's honoree has shaped the national economic discourse while advancing inclusion and opportunity. As the first African-American to lead a regional Federal Reserve Bank, Dr. Raphael Bostic expanded how the nation understands economic mobility while advancing inclusion and opportunity. We are especially honored, Dr. Bostic, that you join us this morning during our inaugural Freedom Rise Week. As you approach your well-earned retirement, we are so excited that you elected to spend a few minutes or hours with us. Ladies and gentlemen, please join me in a warm CAU Panther welcome for the President and Chief Executive Officer of the Federal Reserve Bank of Atlanta, Dr. Raphael Bostic.
Welcome up, Dr. Bostic. Dr. Bostic, welcome to Clark Atlanta University. Before we begin our conversation, the CAU School of Business and a few of our friends wish to recognize the indelible impact and your leadership. We will start with our representatives from the National Bankers Association. Cynthia Day, who is the President and CEO of Citizens Trust Bank, is a board of director member of the Federal Reserve Bank of Atlanta, as well as Robert James II, President of Carver Financial Corporation and Executive Vice President of Carver State Bank. They'll be followed by Dr. Ed Davis, who will fill in for Dean Anthony Wilbon, Dean of Howard University, on behalf of the National HBCU Business Deans Roundtable.
Thank you, Dean, and good morning to everyone. It is an absolute pleasure to be here at Clark Atlanta, an institution rooted in such a powerful legacy and a place where generations of leaders have been shaped. Thank you for the opportunity to be able to celebrate with you the Freedom Rise Week and to pay tribute to Major Richard Robert Wright and the National Freedom Day. Major Wright left an indelible mark on both of our institutions. As a founding member of the National Bankers Association and a distinguished alumni of Clark Atlanta University, it is no surprise that our mission and our purposes are closely aligned. The NBA has been a longstanding and powerful advocate for minority banks across the country, including Citizens Trust Bank headquartered right here in Atlanta and Carver State Bank headquartered in Savannah, Georgia, and for the communities we proudly serve. The NBA remains committed to financial access and economic opportunity and has been a voice that resonates deeply within the halls of Congress and the White House. That's why we are honored today to recognize Dr. Raphael Bostic. And I know he's wondering why I'm calling him Dr. Raphael Bostic, but today we're going to give you your due honor. Dr. Bostic too is a champion of an economy that works for everyone. Beyond his impressive resume and his role as being the President and CEO of the Federal Reserve, he brings a rare combination of intellect, humility, and genuine care. He doesn't just study data. Now, that's important, you need to look at data, but he also goes into the communities and he listens to voices and he values their perspectives and he makes sure that those experiences are factored in and help shape the policies that affect lives and businesses. He has consistently elevated issues of economic mobility, access, and inclusive growth. And these are values that are deeply within the mission and legacy of the National Bankers Association. He's not only an asset to Atlanta and to our nation, but he's someone I personally admire and I call friend. And I will tell you firsthand, serving alongside him on the board of directors at the Federal Reserve has allowed me to get a firsthand view that his intentions and his commitments are genuine. So, Raphael, thank you for your leadership, your heart, and the meaningful impact that you've had on this city and beyond. It is a privilege for us to recognize you today and honor you and present you with a resolution from the National Bankers Association. Robert.
Good morning. Dean Udoka, thank you for having us. My name is Robert James II, President and CEO of Carver Financial Corporation, Executive Vice President of Carver State Bank, immediate past chairman of the National Bankers Association. It's been my privilege for the last three and a half years to serve on the Community Depository Institutions Advisory Council, advising Dr. Bostic on what we're seeing in local communities across the region. Dr. Bostic is a friend, Dr. Bostic is genuine, Dr. Bostic is brilliant, and we are all honored to have had Dr. Bostic as a servant here in the southeast and in the United States. A resolution of the board of directors of the National Bankers Association. Whereas the National Bankers Association was founded to advance financial equity, economic opportunity, and the strength of minority depository institutions. And whereas the association's founding legacy includes Major Richard Robert Wright, a champion of National Freedom Day and a national leader in economic empowerment. And whereas Dr. Raphael W. Bostic, President and Chief Executive Officer of the Federal Reserve Bank of Atlanta, has provided historic leadership as the first African-American to lead a regional Federal Reserve Bank. And whereas Dr. Bostic's tenure has advanced a more inclusive national dialogue on economic mobility, equity, and access. Now, therefore, be it resolved that the board of directors of the National Bankers Association hereby honors Dr. Raphael W. Bostic for his distinguished service, leadership, and enduring contributions to inclusive economic advancement. And be it further resolved that this recognition affirms the association's enduring commitment to the principles of economic justice and opportunity championed by its founders. Adopted this fifth day of February 2026 by the board of directors of the National Bankers Association by Todd McDonald, Chair of the Board, Cynthia Newell, Secretary of the Board, and Nicole Elim, President and CEO. Dr. Bostic, congratulations.
Good morning. Is it still morning, you guys? I see a little smile. This is a happy day, right? Dr. Bostic, in 1998, a group of about 12 business school deans at HBCUs came together to talk about how they could share and make it better for our students. That has led to the establishment of the HBCU National Business Deans Roundtable that now has about 62 members. And the importance of this event, Dr. Anthony Wilbon, the Dean of Howard's School of Business, was coming but the weather has prevented him. So I am not Dr. Wilbon but I am Ed Davis, one of the founding members of the Roundtable. So on behalf of the Roundtable, I'd like to present you with this proclamation. Whereas Dr. Bostic has served with distinction as the 15th President and CEO of the Federal Reserve Bank of Atlanta, marking a historic milestone as the first African-American to lead a regional Federal Reserve Bank in the system's history. And whereas his leadership since June 2017 has been defined by an unwavering commitment to maximum employment in the pursuit of an economy that works for everyone, reflecting the highest ideals of economic justice and mobility. Whereas Dr. Bostic has served as a participant on the Federal Open Market Committee with academic rigor and focus on the lived economic experiences of a diverse population. And whereas his presence today at Clark Atlanta University during the Executive Insights with Dean Udoka event aligns with the rising legacy of Major Richard Wright and the continued pursuit of economic freedom and employment. Now therefore be it resolved that the National HBCU Business Deans Roundtable today honors Dr. Bostic for his trailblazing leadership, his intellectual contributions, participation in the Federal Reserve system, and his enduring inspiration to the next generation of HBCU business scholars as he concludes his tenure on February 28th, 2026. This is signed by all 62 members of the National HBCU Deans Roundtable. Congratulations, Dr. B.
Dr. Bostic, there is one more. We have one more. The Milton Wright Leadership Medal. This medal represents the highest distinction of the Clark Atlanta University School of Business. It is awarded to individuals whose enduring leadership has shaped business and business education and whose contributions have meaningfully advanced the legacy and impact of our school. Here to speak briefly to its significance, I invite back to the stage one of its past recipients, our very own Dr. Edward Davis.
I have a second round. Dr. Bostic, this medallion represents a career of consequence. I am happy that you're joining me as a recipient. Your leadership has expanded how institutions think about economic access and global responsibility, fully aligned with our commitment to unabashedly persevere, prosper with purpose, and think globally. Dr. Bostic, this medallion signifies a career of consequence. Welcome to join me as an honoree.
Dr. Bostic, your career exemplifies enterprising ingenuity in action. Today we have proudly presented you with the Milton Wright Medallion in the Trailblazer category, honoring a life devoted to advancing economic understanding and opportunity. As our presenters have done such a phenomenal job, I'm going to invite you, Dr. Bostic, for a few words before we sit down for our conversation.
So, good morning everyone. It's really good to see you. I have to say, this has been completely overwhelming. I've just worked to work, like there are things to get done and there are challenges that need to be tackled to help make this an economy that works for everyone. And I've been privileged through the course of my career to have an opportunity to be in institutions where we can make progress on that. And it's never done for recognition, and that kind of makes this extra special. I want to thank Clark Atlanta. I want to thank everyone. All these folks are actually really big important people as well, and any of them could have been on stage receiving these recognitions. And I would strongly encourage you to find these folks and when they're speaking at other places, listen to them because there's a lot of wisdom there. There's a lot of experience and there's a lot of heart. They want to do the right things. We all want to do the right things and it's really important. And for all of you, I would say this is the beginning of a journey and your journey can be and needs to be consequential. We have so many needs in our community. And we need smart people who are willing to do the hard work to make a difference. So it's just a pleasure to be here. My heart is filled with gratitude. And I'm really looking forward to the conversation. So thank you all and let me say one other thing. It is such an honor to be recognized in this place in a context of a historical arc. I think it's so important that we all remember that we are here and in our places because of sacrifice and struggle and effort of people who some of them who knew you and some of them who didn't. But it is really special to continue that legacy and as all of us go forth to make sure that we are grateful for those who have gone before and then try to build on that to make sure that that work was not done in vain. So, it's just great to be here and thank you again.
Dr. Fantastic. Thank you once again for taking the time to spend this morning with us. It's really significant for our School of Business and for our university to have you here. So, thank you. I'm going to just dive into a few questions and I'll try to color it with things that are happening around us as we gather here today. Dr. Bostic, in our university, we are in a space defined by the legacy of pioneers. We've already harped on Major Richard Wright, first valedictorian and a hall of accolades that we've spoken about. He founded a bank at the age of 67 and he continued to do work even late into his age to make sure that Black communities had a seat at the financial table. You have spent your career at the highest levels of that same table. Let's begin by helping everyone understand your role. For anyone in our expanded audience who may not fully understand what the Atlanta Fed does, how do you explain your job? Say at a dinner party.
No, first nobody asks me that question at a dinner party. Really? But so we're the US central bank. So we're the bank for the US government and our charge is really to make sure that the foundations of the US economy are solid and strong. And we do that through bank supervision to make sure that every bank that's alive today is alive tomorrow. We do this through providing services in the payment system. Every dollar piece of cash that shows up in the circulation starts at a Federal Reserve facility and we have hardware that allows transactions to happen at every store in America. And then we do it through monetary policy which is the thing that most people think about our institution about. And that is to set policy rates so that the economy can function in ways that get us to maximum employment and stable prices. And if you have that foundation, and the reason why it's important to have that foundation is that if people don't have to worry about just the basic building blocks, the basic things of an economy, then they can dream, then they can aspire, then they can do long run investments to try to do great things. And so our charge is to be good at what we do, so you all can be great at what you are hoping to do. And it's a challenge. It's a very complex economy, but that's really what we're trying to do.
Thank you so much. You've built a national career, but in recent times, Atlanta has clearly been central to your story. When you were a student, undergraduate, graduate, what was the specific spark that drew you to economics and what originally brought you to Atlanta and kept you invested in this region?
So, you know, Atlanta was kind of almost dumb luck in the sense that, you know, I was working, I was a professor at USC, University of Southern California in Los Angeles and a search firm called me and said, 'We think you'd be interesting as a candidate.' And so, I tried it and they gave me the job. So then I wound up here in Atlanta. The thing that has been so special for me for Atlanta is how being here in this role in this city has given me sightlines into a whole host of things about how the economy is working and how the economy is not working which has allowed me to really get a deep understanding and be a voice to try to make people aware that there are solutions out there for many of the challenges in terms of economics. It actually was a spark. I was going to be a chemical engineer. That was my goal. And freshman year of college, I was in a lab and one of my co, another lab group to get one extra point on a lab report lit a match and threw it into the sink with the unknown and it exploded. And so that's when I decided I should probably try something else. But that's really how I got into economics. After I got out of the chemistry, I started looking at other things to do. I found psychology, really loved psychology and then economics as well and have really tried to do both of those through most of my career.
Thank you. Thank you so much. Your path into economics has inspired many students. I can tell a story. I don't know if we have time to. We had one of your team members present here at our university when I first came here. And as a result of that presentation, we had a student change major to be an economics major. And this student has gone on to do some incredible things in her career. So for you, was there a moment when you realized that monetary policy could be used in the spirit of Major Richard Wright as a powerful tool for social and communal change?
I don't know if there was a specific moment. I mean, so I went to grad school, got my PhD, and then my first job was at the Federal Reserve in Washington DC. I was a research economist there. I was working in consumer banking issues. So all the ways that banks intersect with the community. And as part of that, I wound up doing a lot of talking to, you know, African-American professionals. There are a ton of them in Washington DC. And there were several moments when I'd be talking, I was talking about credit scoring for example and I would ask the audience so how many of you paid the minimum amount on a bill? So you know you get a credit card bill that says there's a minimum amount you can pay and like 60% of the hands went up and that's actually not the thing you're supposed to do. I mean, what you're supposed to do is if you can, you pay it all off because that minimum amount just means you're going to pay a lot of interest over and over and over again. And something that should cost $20 will wind up costing $55. And so that was a mark for me when I realized like I can bring some insight into how financial markets work, how banking works, that can help people position themselves better so that every dollar that they have goes as far as it possibly can and that people can in some sense better take advantage of the tools that are out there to get ahead.
Fantastic. When you walk into a historic campus like Clark Atlanta University, you are engaging with future leaders. What excites you most about engaging with our students today?
So, I love being on college campuses. There are places where I just see so many people who are excited about the prospects and the potential of the future. They're curious. Through their lives, many of them, many of you have seen challenges that have frustrated you and you want to fix them. And it's really, it's always joyous to be around a bunch of people who have aspirations for the future and want the future to be better for them and for everybody else. And to have an opportunity to help students get closer to realizing that is just really amazing. I know in my classes, you know, I often say, I don't know if I should get into all of this, but you know, sometimes I think students think that professors are not noticing what's going on in every corner of a classroom. But for me, some of the richest moments have been as I'm teaching to notice a student's facial expression change in a way that suggests, oh my goodness, I understand what's going on. And then to see that translate into confidence and then excellent performance is just tremendously rich moments. So to be on a campus again, that energy is back and you know, it's just a really wonderful thing and I really enjoy that.
At the CAU School of Business, our signature pedagogy is enterprising ingenuity. We define it as a disciplined practice of transforming complex constraints into meaningful opportunities by integrating analytical rigor, creative problem solving, and resourceful action. Our students are graduating into a market full of complex constraints. How do you size up the current job market for the class of 2026? And how can they best apply that spirit of ingenuity to lead and uplift in this evolving economy?
So that's a very interesting question and it's a very hard question to answer right now. There are so many things that are happening in labor markets and in how work is getting done. Some of them are in the usual business cycle context but some of them I think might actually be more structural in terms of how technology is showing up into the marketplace and what jobs are going to be available and plentiful not just today but five years from now. And I think the answer to that question is changing. So for me I think the biggest attribute and the most important attribute for people to have is adaptability and flexibility and not to get locked into any one pathway or any one way of going because the world is changing rapidly and that rapid change means that you've got to be able and willing to change and pivot and adjust and adapt as that is happening. So you're always positioning yourself to be ahead of the wave so that you can ride it. And so a lot of where we are today is pay attention, do a lot of reading, get a lot of thought process and information about sort of where we are today and how leaders from all sectors of the economy are thinking about where they're going to take their companies tomorrow. Well, that will also create opportunities from an entrepreneurship perspective as well because as that change happens, there are going to be services that are needed tomorrow that are not needed today, but as things evolve, those gaps will emerge and appear. And so there are opportunities as well if you see things and understand them well that you can do great. The other thing I would also say and this is a more general thing in all of this is that you need to really know your assets. Know what your talents are and know what they're not, like no one has talents on everything, right? And so if you know who you are and what you can bring to the table and can articulate that in a very clear and direct way, you can be compelling and there will be places for you because we need a full range of talent and we need it coming from all sorts of places. You know one of the reasons why I like our tagline 'an economy that works for everyone' is because I don't know where the next great idea is going to come from. Nobody does, but if we don't look everywhere, there's a chance we might miss it. And so we need to make sure we are trying to get every person to their greatest potential so that if you're the one with the next great idea, we find out and then we all benefit from it.
So much, you've given good advice to students. Let me pivot to us faculty, university. We are looking in the School of Business today at our action plan in rigor and relevance of what we do. Do you have, I know as engaged with business leaders, I always ask this question, what should we as universities, institutions be doing to strengthen the future workforce and economy?
So, there, I got like 800 answers that just went through my head. I think the most important thing is to make sure that the university understands the tensions, the stresses and opportunities that businesses are feeling. And then get a sense of how do you prepare a collective to fill all of those gaps and take advantage and leverage all of those opportunities. We, one thing we do at the bank a lot, and I think you mentioned this in the introduction, we listen to people, right? So both Cynthia and Robert, they are on advisory council so I have small bankers come in on a quarterly basis, I have agriculture sector come in on a quarterly basis, I talk to people in energy, I talk to people who are doing trade and transportation, like all of these things. And our job is really, every time I do that I learn something, I find out that there's some new technology being deployed, some way that means that there are jobs in that space. I actually go, I've done some of my favorite things to do have been to go...
to factories and plants and just see how things are produced. We went to a tire plant in Tennessee near the Kentucky border. And it was incredible in the sense that in the plant they're making tires all day long. People are not touching rubber, right? It is robots doing this and it is mechanics and it is assembly line all that kind of stuff. But there were a lot of people in that building. They were doing calibration of the robots, calibration of the computers, checking the throughput to making sure that everything was optimized. So it wasn't as if the technology eliminated the need for people. It just meant that it was asking people to do different things. And to the extent that we all here in the academy can be aware of how that shift is happening and then position our classes so that our students are getting those skills, that can be quite successful.
Thank you so much. That really speaks to what I believe myself, which is what I call authentic learning, which I've encouraged my colleagues to partner with corporations to have these authentic experiences in the classroom because if students see what they're learning as they learn it, it sticks better. They remember this material better. And so, thank you for affirming that.
He's pretty smart, right? So y'all should listen to him. And I would be remiss, you know, Dr. Udoka has also been part of our advisory council structure. We set up a special committee on payments inclusion to try to help fintech companies and those of that sort position their product to serve all people. Because sometimes they're just thinking very narrowly about helping and facilitating one type of transaction when they can help others and your voice has been tremendously helpful for us. So I want to thank you for that.
Thank you so much. Thank you for having me on that committee. I really appreciate it. To bring all this into perspective, how does today's work environment differ from when you first entered the workforce?
