Mary C. Daly became the thirteenth president and chief executive officer of the Federal Reserve Bank of San Francisco on October 1, 2018.
A Missouri native, Daly earned a bachelor's degree in economics and philosophy from the University of Missouri-Kansas City in 1985, a master's degree in economics from the University of Illinois Urbana-Champaign in 1987, and a doctorate in economics from Syracuse University in 1994. She completed a National Institute on Aging post-doctoral fellowship at Northwestern University in 1996.
Daly joined the San Francisco Fed in 1996 as a research economist and held positions of increasing responsibility, including vice president, group vice president, and senior vice president and associate director of research. She became the Bank’s executive vice president and director of research in 2017.
Daly is a recognized leader within the Federal Reserve System. She is past executive chair of the System’s Committee on Research Management and past chair of the Economic Advisory Group for the System’s Committee on Compensation and Benefits.
Daly's public service extends well beyond the Federal Reserve. She has served on the advisory boards of 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 also is an internationally recognized labor economist, holding research affiliations and leadership positions with a number of professional organizations, including Western Economic Association International and the Institute of Labor Economics in Bonn, Germany.
Daly’s research has focused on labor market dynamics and the aggregate and distributional impacts of monetary and fiscal policy. She has published work on economic inequality, wage and unemployment dynamics, human capital formation, and disability and retirement policy. She has collaborated with scholars around the world in a multitude of fields, has published numerous articles in leading research journals, and has authored and edited several books. Her work has been featured in media outlets including Bloomberg, Businessweek, The Economist, the Financial Times, the New York Times, the Wall Street Journal, and the Washington Post.
Daly is a frequent speaker and an avid contributor to efforts to educate the public about economics, monetary policy, and the Federal Reserve System. She is often referred to as “the people’s economist” for her ability and drive to explain complex economic ideas in plain language. She is considered a thought leader in building a more diverse and inclusive environment in economics and finance.
Written by the Federal Reserve Bank of San Francisco. See disclaimer.