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 28year veteran of the Federal Reserve System. President Daly joins David for this special live episode of Macro Musings to talk about her nonlinear career path to the world of monetary policy, the longterm economic impacts of AI, the future outlook for Fed policy and the Fed’s framework, and much more.

Transcript for this episode: https://www.mercatus.org/macromusing...

Mary’s Twitter:   / marydalyecon  
Mary’s San Francisco Fed profile: https://www.frbsf.org/ourpeople/lead...

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Related Links:

Facts, Fears, and Functionality of NGDP Level Targeting by David Beckworth: https://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 RStar Over the Medium to LongRun

(00:19:06) – The LongTerm 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