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After hitting a high of around 9 percent in 2022, U.S. inflation has fallen to around 3 percent. Are we on a path to price stability in the coming years? What are some of the strategies that the Federal Reserve has to fulfill its dual mandate of keeping prices stable and achieving maximum employment? Join us as we hear from Mary C. Daly, the president of the San Francisco Federal Reserve Bank, on monetary policy and the U.S. economic outlook.

Mary C. Daly's presentation begins at 5:00pm on Monday, April 15th, followed by a Q&A moderated by the Mark Duggan, the Trione Director of SIEPR. You are invited to a cocktail reception at 4:30pm.

¾ÅÉ«ÉçÇø the Speaker:

Mary C. Daly leads the Federal Reserve Bank of San Francisco, the largest and most diverse Federal Reserve District, home to one fifth of the nation’s population. In this role, Daly charters a vision of the Bank as a premier public service organization dedicated to promoting an economy that works for all Americans and supporting the nation’s financial and payment systems. She is at the forefront of the Federal Reserve System’s price stability and full employment mandates as a member of the monetary policy-setting Federal Open Market Committee.

Daly assumed leadership of the San Francisco Fed 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 has since served as research advisor, vice president and head of macroeconomics, senior vice president and assistant director of research, and executive vice president and director of research.

Daly’s research advances understanding of the Federal Reserve’s maximum employment and inflation mandates, most notably through her studies of wage rigidity and the natural rate of unemployment. Her work has also highlighted the overall economic benefits of reducing wage and employment gaps between demographic groups. Through her speeches and public commentary, she helps demystify key issues faced by monetary policymakers, including topics such as inflation dynamics, financial stability, and the relationship between monetary policy and inequality. She is a research associate at the IZA Institute of Labor Economics and 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.

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