Mary Daly is the president and CEO of the Federal Reserve Bank of San Francisco, a voting member of the Federal Open Market Committee (FOMC), and is also a 28-year veteran of the Federal Reserve System. President Daly joins David for this special live episode of Macro Musings to talk about her non-linear career path to the world of monetary policy, the long-term economic impacts of AI, the future outlook for Fed policy and the Fed’s framework, and much more.
Transcript for this episode: www.mercatus.org/macro-musing...
Mary’s Twitter: / marydalyecon
Mary’s San Francisco Fed profile: www.frbsf.org/our-people/lead...
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Related Links:
Facts, Fears, and Functionality of NGDP Level Targeting by David Beckworth: www.mercatus.org/research/res...
Timestamps:
(00:00:00) - Intro
(00:01:30) - Mary Daly’s Background
(00:06:09) - Recent Inflationary Trends and the Future of Fed Policy
(00:15:39) - The Trajectory of R-Star Over the Medium to Long-Run
(00:19:06) - The Long-Term Economic Impacts of AI
(00:29:51) - Expectations for the Upcoming Fed Framework Review
(00:33:35) - Prospects for Nominal GDP Targeting at the Fed
(00:36:58) - Fed Policymaking During an Election Year
(00:38:16) - Audience Q&A Period
(01:01:09) - Outro