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fill="currentColor" xmlns="http://www.w3.org/2000/svg"><title>Home</title><path d="M12.9998 5.85366L6.49992 0L0 5.85366L0.000164297 5.85381V12.0001H13V5.85372H12.9998L12.9998 5.85366Z"></path></svg></span></a><span class="wp-block-sffed-blocks-sffed-breadcrumbs--separator">/</span></li><li><a class="sffed-breadcrumbs__link" href="/news-and-media">News & Media</a><span class="wp-block-sffed-blocks-sffed-breadcrumbs--separator">/</span><a class="sffed-breadcrumbs__link" href="/news-and-media/events/">Events</a></li></ol></nav> <h1 style="margin-bottom:var(--wp--preset--spacing--50);margin-top:var(--wp--preset--spacing--40);" class="wp-block-post-title">Remarks by Mary C. Daly on Monetary Policy and the Economy</h1> </div> <div class="entry-content wp-block-post-content has-global-padding is-layout-constrained"> <div class="wp-block-columns has-global-padding is-layout-constrained wp-block-columns-is-layout-constrained" style="gap: 3rem;"> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:25%; padding-right: 1rem;"> <p class="sffed-meta-kicker">Date</p><p class="sffed-is-teal has-small-font-size sffed-is-demi-bold">Tuesday, Oct 15, 2024</p><p class="sffed-meta-kicker">Time</p><p class="sffed-is-teal has-small-font-size sffed-is-demi-bold">8:30 am PDT</p></p><p><p class="sffed-meta-kicker">Location</p><p class="has-x-small-font-size">New York City, New York</p><p><p class="sffed-is-demi-bold"><a class="sffed-has-no-underline" href="/news-and-media/speeches/mary-c-daly/2024/10/landing-softly-is-just-the-beginning/">Read the speech text</a></p></p><p class="sffed-meta-kicker">Topics</p><p><p class="has-x-small-font-size"><span><a class="sffed-has-no-underline" href="https://www.frbsf.org/topics/monetary-policy" style="margin-right: 1rem">Monetary Policy</a><span><span><a class="sffed-has-no-underline" href="https://www.frbsf.org/topics/us-economy" style="margin-right: 1rem">U.S. Economy</a><span></p> </div> <div class="sffed-main-content wp-block-column sffed-heading--greycliff is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:65%"> <div class="entry-content wp-block-post-content is-layout-flow wp-block-post-content-is-layout-flow"> <figure class="wp-block-embed is-type-video is-provider-vimeo wp-block-embed-vimeo wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper"> <iframe src="https://player.vimeo.com/video/1018480668?dnt=1&app_id=122963" width="500" height="281" frameborder="0" allow="autoplay; fullscreen; picture-in-picture; clipboard-write"></iframe> </div></figure> <h2 class="wp-block-heading">Summary</h2> <p>At an event hosted by New York University Stern School of Business, President Mary C. Daly discussed the progress the Federal Reserve has made in bringing inflation down and the importance of looking beyond a “soft landing,” ultimately aspiring to durable expansion with sustained price stability.</p> <p>Following her remarks were a moderated conversation with Bloomberg Television’s Lisa Abramowicz and an audience Q&A, moderated by NYU Stern’s Richard Berner. During her visit, President Daly also met with students interested in economics and held a group media interview with reporters from several national publications.</p> <h3 class="wp-block-heading">Quick Clips</h3> <div class="wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained"> <div class="wp-block-columns is-layout-flex wp-container-core-columns-is-layout-3 wp-block-columns-is-layout-flex"> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:50%"> <figure class="wp-block-embed is-type-video is-provider-vimeo wp-block-embed-vimeo wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper"> <iframe src="https://player.vimeo.com/video/1025468053?dnt=1&app_id=122963" width="500" height="281" frameborder="0" allow="autoplay; fullscreen; picture-in-picture; clipboard-write"></iframe> </div><figcaption class="wp-element-caption">President Mary C. Daly on where we are in the economy right now. (video, 1:07 minutes)</figcaption></figure> </div> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:50%"> <figure class="wp-block-embed is-type-video is-provider-vimeo wp-block-embed-vimeo wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper"> <iframe src="https://player.vimeo.com/video/1025468106?dnt=1&app_id=122963" width="500" height="281" frameborder="0" allow="autoplay; fullscreen; picture-in-picture; clipboard-write"></iframe> </div><figcaption class="wp-element-caption">President Mary C. Daly on the Fed’s September decision. (video, 00:47 minutes)</figcaption></figure> </div> </div> <div class="wp-block-columns is-layout-flex wp-container-core-columns-is-layout-4 wp-block-columns-is-layout-flex"> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:50%"> <figure class="wp-block-embed is-type-video is-provider-vimeo wp-block-embed-vimeo wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper"> <iframe loading="lazy" src="https://player.vimeo.com/video/1025468166?dnt=1&app_id=122963" width="500" height="281" frameborder="0" allow="autoplay; fullscreen; picture-in-picture; clipboard-write"></iframe> </div><figcaption class="wp-element-caption">President Mary C. Daly on the impact of high inflation. (video, 00:47 minutes)</figcaption></figure> </div> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:50%"> <figure class="wp-block-embed is-type-video is-provider-vimeo wp-block-embed-vimeo wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper"> <iframe loading="lazy" src="https://player.vimeo.com/video/1025468217?dnt=1&app_id=122963" width="500" height="281" frameborder="0" allow="autoplay; fullscreen; picture-in-picture; clipboard-write"></iframe> </div><figcaption class="wp-element-caption">President Mary C. Daly on finishing the job. (video, 00:30 minutes)</figcaption></figure> </div> </div> </div> <div class="wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained"> <h3 class="wp-block-heading sffed-has-margin-bottom-none">From the Event</h3> <div class="wp-block-create-block-sffed-curated-carousel"><div class="Carousel noDescription"><div class="carousel-details"><div class="sffed-carousel-nav"><button style="background-color: #0b807c" class="swiper-button-prev"><i class="sffed-chevron-left"></i></button><button style="background-color: #0b807c" class="swiper-button-next"><i class="sffed-chevron-right"></i></button></div></div><div class="swiper swiper-wrap sffed-curated-carousel" data-carousel-number-of-items="2.5" data-carousel-space-between-items="35" ><div class="swiper-wrapper"><article class="swiper-slide sffed-curated-carousel-article"><div class="sffed-curated-carousel-card sffed-curated-heading "><div class="sffed-curated-carousel-thumbnail sffed-almost-square-ratio"><img decoding="async" width="865" height="690" src="https://www.frbsf.org/wp-content/uploads/1carousel_NYU_1015.jpg?quality=100?w=350&h=350&crop=1" alt="1carousel_NYU_1015" class="sffed-thumbnail-image wp-image-134120" loading="lazy" srcset="https://www.frbsf.org/wp-content/uploads/1carousel_NYU_1015.jpg 865w, https://www.frbsf.org/wp-content/uploads/1carousel_NYU_1015.jpg?resize=300,239 300w, https://www.frbsf.org/wp-content/uploads/1carousel_NYU_1015.jpg?resize=768,613 768w" sizes="(max-width: 865px) 100vw, 865px" /></div><div class="sffed-curated-carousel-header"><header></header></div></div><div class="swiper-lazy-preloader"></div></article><article class="swiper-slide sffed-curated-carousel-article"><div class="sffed-curated-carousel-card sffed-curated-heading "><div class="sffed-curated-carousel-thumbnail sffed-almost-square-ratio"><img decoding="async" width="865" height="690" src="https://www.frbsf.org/wp-content/uploads/2carousel_NYU_1015.jpg?quality=100?w=350&h=350&crop=1" alt="2carousel_NYU_1015" class="sffed-thumbnail-image wp-image-134119" loading="lazy" srcset="https://www.frbsf.org/wp-content/uploads/2carousel_NYU_1015.jpg 865w, https://www.frbsf.org/wp-content/uploads/2carousel_NYU_1015.jpg?resize=300,239 300w, https://www.frbsf.org/wp-content/uploads/2carousel_NYU_1015.jpg?resize=768,613 768w" sizes="(max-width: 865px) 100vw, 865px" /></div><div class="sffed-curated-carousel-header"><header></header></div></div><div class="swiper-lazy-preloader"></div></article><article class="swiper-slide sffed-curated-carousel-article"><div class="sffed-curated-carousel-card sffed-curated-heading "><div class="sffed-curated-carousel-thumbnail sffed-almost-square-ratio"><img decoding="async" width="865" height="690" src="https://www.frbsf.org/wp-content/uploads/3carousel_NYU_1015.jpg?quality=100?w=350&h=350&crop=1" alt="3carousel_NYU_1015" class="sffed-thumbnail-image wp-image-134118" loading="lazy" srcset="https://www.frbsf.org/wp-content/uploads/3carousel_NYU_1015.jpg 865w, https://www.frbsf.org/wp-content/uploads/3carousel_NYU_1015.jpg?resize=300,239 300w, https://www.frbsf.org/wp-content/uploads/3carousel_NYU_1015.jpg?resize=768,613 768w" sizes="(max-width: 865px) 100vw, 865px" /></div><div class="sffed-curated-carousel-header"><header></header></div></div><div class="swiper-lazy-preloader"></div></article><article class="swiper-slide sffed-curated-carousel-article"><div class="sffed-curated-carousel-card sffed-curated-heading "><div class="sffed-curated-carousel-thumbnail sffed-almost-square-ratio"><img decoding="async" width="865" height="690" src="https://www.frbsf.org/wp-content/uploads/4carousel_NYU_1015.jpg?quality=100?w=350&h=350&crop=1" alt="4carousel_NYU_1015" class="sffed-thumbnail-image wp-image-134121" loading="lazy" srcset="https://www.frbsf.org/wp-content/uploads/4carousel_NYU_1015.jpg 865w, https://www.frbsf.org/wp-content/uploads/4carousel_NYU_1015.jpg?resize=300,239 300w, https://www.frbsf.org/wp-content/uploads/4carousel_NYU_1015.jpg?resize=768,613 768w" sizes="(max-width: 865px) 100vw, 865px" /></div><div class="sffed-curated-carousel-header"><header></header></div></div><div class="swiper-lazy-preloader"></div></article></div></div></div></div> <p><em>© Olivo – Courtesy of NYU Photo Bureau</em></p> </div> <div class="wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained"> <div style="height:25px" aria-hidden="true" class="wp-block-spacer"></div> <div class="wp-block-columns is-layout-flex wp-container-core-columns-is-layout-5 wp-block-columns-is-layout-flex"> <div class="wp-block-column sffed-column--callout-border-right is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:60%"> <div class="wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained"> <p class="sffed-meta-kicker">Stay in the know</p> <h4 class="wp-block-heading">Sign up for notifications on Mary C. Daly’s speeches, remarks, and fireside chats.</h4> </div> </div> <div class="wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:40%"> <div style="margin-top:0;margin-bottom:0;height:var(--wp--preset--spacing--40)" aria-hidden="true" class="wp-block-spacer"></div> <div class="wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-8 wp-block-group-is-layout-flex"> <div class="wp-block-button has-custom-width wp-block-button__width-100 has-custom-font-size sffed-has-margin-right-add is-style-fill sffed-no-offsite-icon has-xx-small-font-size"><a class="wp-block-button__link has-text-align-left wp-element-button" href="/subscriptions/"><strong>Subscribe</strong></a></div> </div> </div> </div> </div> <div class="wp-block-group has-global-padding is-content-justification-left is-layout-constrained wp-container-core-group-is-layout-10 wp-block-group-is-layout-constrained"> <hr class="wp-block-separator has-alpha-channel-opacity separator-dotted"/> <h2 class="wp-block-heading">About the Speaker</h2> <div class="wp-block-columns is-layout-flex wp-container-core-columns-is-layout-6 wp-block-columns-is-layout-flex"> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:33.33%"> <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="370" height="450" src="https://frbsf-future-develop.go-vip.net/wp-content/uploads/Leadership_Daly_FFFF_sm.jpg?quality=100&w=370" alt="Mary C. Daly" class="wp-image-70326" srcset="https://www.frbsf.org/wp-content/uploads/Leadership_Daly_FFFF_sm.jpg 370w, https://www.frbsf.org/wp-content/uploads/Leadership_Daly_FFFF_sm.jpg?resize=247,300 247w" sizes="(max-width: 370px) 100vw, 370px" /></figure> </div> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:66.66%"> <p class="sffed-has-margin-top-none">Mary C. Daly is president and chief executive officer of the Federal Reserve Bank of San Francisco. In 2024, she is a voting member of the Federal Open Market Committee, the monetary policymaking body of the Federal Reserve System. Daly assumed leadership of the San Francisco Fed in 2018, building on a distinguished career as a labor economist, policy advisor, and leader. <a href="/our-people/leadership/office-of-the-president/">Read Mary C. Daly’s full bio</a>.</p> </div> </div> <hr class="wp-block-separator has-alpha-channel-opacity separator-dotted"/> </div> <div class="wp-block-create-block-sffed-curated-related-content"><h2 class="sffed-related-content-headline">Related:</h2><article class="sffed-curated-related-content-article wp-block-columns is-layout-flex"><div class="sffed-curated-related-content-thumbnail wp-block-column is-layout-flow" style="flex-basis:30%"><figure class="wp-block-post-featured-image" data-title="Post Featured Image"><img decoding="async" width="300" height="203" src="https://www.frbsf.org/wp-content/uploads/news-media_850x575_MCD_WSJ_Laguna-Beach_1021.jpg?quality=100&w=300" class="sffed-thumbnail-image attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" title="news media_850x575_MCD_WSJ_Laguna Beach_1021" loading="lazy" style="width:100%;height:100%;object-fit:cover;" srcset="https://www.frbsf.org/wp-content/uploads/news-media_850x575_MCD_WSJ_Laguna-Beach_1021.jpg 850w, https://www.frbsf.org/wp-content/uploads/news-media_850x575_MCD_WSJ_Laguna-Beach_1021.jpg?resize=300,203 300w, https://www.frbsf.org/wp-content/uploads/news-media_850x575_MCD_WSJ_Laguna-Beach_1021.jpg?resize=768,520 768w" sizes="(max-width: 300px) 100vw, 300px" /></figure></div><div class="sffed-curated-related-content--content wp-block-column is-layout-flow" style="flex-basis:65%"><header><div class="sffed-category"><p>NEWS<span>: <a href="https://www.frbsf.org/news-and-media/news-articles/news-coverage">news coverage</a></span></p></div><a href=https://www.frbsf.org/news-and-media/news-articles/news-coverage/2024/10/transcript-wsj-live-conversation-with-mary-c-daly-october-21-2024 class="sffed-linked-headline"><h3 class="sffed-headline">Transcript: WSJ Tech Live conversation with Mary C. Daly and Nick Timiraos</h3></a><address class="sffed-byline"></address></header></div></article><article class="sffed-curated-related-content-article wp-block-columns is-layout-flex"><div class="sffed-curated-related-content-thumbnail wp-block-column is-layout-flow" style="flex-basis:30%"><figure class="wp-block-post-featured-image" data-title="Post Featured Image"><img decoding="async" width="300" height="244" src="https://www.frbsf.org/wp-content/uploads/Lightbox_Commonwealth.jpg?quality=100&w=300" class="sffed-thumbnail-image attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="President Daly in conversation with CNBC’s Deirdre Bosa." title="Lightbox_Commonwealth" loading="lazy" style="width:100%;height:100%;object-fit:cover;" srcset="https://www.frbsf.org/wp-content/uploads/Lightbox_Commonwealth.jpg 960w, https://www.frbsf.org/wp-content/uploads/Lightbox_Commonwealth.jpg?resize=300,244 300w, https://www.frbsf.org/wp-content/uploads/Lightbox_Commonwealth.jpg?resize=768,624 768w" sizes="(max-width: 300px) 100vw, 300px" /></figure></div><div class="sffed-curated-related-content--content wp-block-column is-layout-flow" style="flex-basis:65%"><header><a href=https://www.frbsf.org/news-and-media/events/2024/06/mary-c-daly-remarks-commonwealth-club-2024 class="sffed-linked-headline"><h3 class="sffed-headline">Getting It Right: Meeting Uncertainty with Conditionality</h3></a><address class="sffed-byline"><span>Mary C. Daly</span></address></header></div></article><article class="sffed-curated-related-content-article wp-block-columns is-layout-flex"><div class="sffed-curated-related-content-thumbnail wp-block-column is-layout-flow" style="flex-basis:30%"><figure class="wp-block-post-featured-image" data-title="Post Featured Image"><img decoding="async" width="300" height="244" src="https://www.frbsf.org/wp-content/uploads/lightbox_MCD_Hawaii_Livestream_0805.jpg?quality=100&w=300" class="sffed-thumbnail-image attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" title="lightbox_MCD_Hawaii_Livestream_0805" loading="lazy" style="width:100%;height:100%;object-fit:cover;" srcset="https://www.frbsf.org/wp-content/uploads/lightbox_MCD_Hawaii_Livestream_0805.jpg 960w, https://www.frbsf.org/wp-content/uploads/lightbox_MCD_Hawaii_Livestream_0805.jpg?resize=300,244 300w, https://www.frbsf.org/wp-content/uploads/lightbox_MCD_Hawaii_Livestream_0805.jpg?resize=768,624 768w" sizes="(max-width: 300px) 100vw, 300px" /></figure></div><div class="sffed-curated-related-content--content wp-block-column is-layout-flow" style="flex-basis:65%"><header><a href=https://www.frbsf.org/news-and-media/events/2024/08/monetary-policy-and-economic-trends-mary-c-daly-2024 class="sffed-linked-headline"><h3 class="sffed-headline">Monetary Policy and Economic Trends</h3></a><address class="sffed-byline"><span>Mary C. Daly</span></address></header></div></article></div></div> </div> <div class="sffed-social-media-share-sidebar wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:85px"> <ul style="background:#FCF6EE;border-radius: 15px;flex-wrap:wrap" class="is-content-justification-center is-layout-flex wp-container-16 is-style-logos-only has-text-color wp-block-sffed-blocks-social-media-share"><li class="wp-social-link wp-social-link-linkedin wp-block-social-link"><a href="https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.frbsf.org%2Fnews-and-media%2Fevents%2F2024%2F10%2Fremarks-by-mary-c-daly-nyu-stern-school-of-business-2024&title=Remarks%20by%20Mary%20C.%20Daly%20on%20Monetary%20Policy%20and%20the%20Economy" target="_blank" class="wp-block-social-link-anchor" aria-label="Share on LinkedIn"><svg width="44" height="44" viewBox="0 0 24 24" xmlns="http://www.w3.org/2000/svg" aria-hidden="true" focusable="false"><path 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