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Mary C. Daly

  • President, Federal Reserve Bank of San Francisco, 2018–

As President and CEO of the Federal Reserve Bank of San Francisco, Mary C. Daly leads an organization dedicated to building a healthy, inclusive, and sustainable economy in the Federal Reserve System's Twelfth District, the largest and most diverse within the Federal Reserve System. 

Mary has charted a vision of the San Francisco Fed as a premier public service organization, dedicated to helping create unreserved opportunity for all Americans. Emphasizing that opportunity is not a luxury, but a necessity that needs to be accessible to everyone, she works to broaden and deepen engagement with the communities the Bank serves. Mary champions initiatives to make the San Francisco Fed's policies and decision-making more transparent. She actively supports the Bank's commitment to understanding the economic and financial risks of climate change and inequities, issues that materially affect the Fed's mandate and the growth and competitiveness of our nation. 

Mary's leadership is underpinned by her belief in "3D public service," the need for public servants to be fully human—vulnerable, compassionate, optimistic, and pragmatic—to help solve the most pressing issues of our time. 

Mary became president and CEO in October 2018, building on a distinguished career at the Bank that began in 1996. Starting as an economist specializing in labor market dynamics and economic inequality, she went on to become the San Francisco Fed's executive vice president and director of research. She has also held multiple leadership positions at the Bank and within the Federal Reserve System more broadly, including Chair of the SF Fed Diversity and Inclusion Council and Executive Chair of the FRS Committee on Research Management. 

As a leader dedicated to raising the profile of public service, Mary has served on numerous advisory boards, including the Congressional Budget Office, the Social Security Administration, the Office of Rehabilitation Research and Training, the Institute of Medicine, and the Library of Congress. She currently serves as an advisor to the Center for First-generation Student Success and the Maxwell School of Citizenship and Public Affairs at Syracuse University. 

As an economist, Mary has published widely on topics such as wage growth and income inequality, disability insurance and policy, and indices of happiness. She has held visiting research positions at the Congressional Budget Office, Cornell University's School of Public Policy, and multiple universities and research institutes in California. She is a research associate at the IZA Institute of Labor Economics, a research institute and international network in labor economics affiliated with the University of Bonn, Germany. 

Mary earned a bachelor's degree from the University of Missouri-Kansas City, a master's degree from the University of Illinois Urbana-Champaign, and a Ph.D. from Syracuse University. She also completed a National Institute of Aging post-doctoral fellowship at Northwestern University. 

Written by the Federal Reserve Bank of San Francisco and updated March 2, 2022. See disclaimer and update policy.