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{{Infobox officeholder
{{Infobox officeholder
|name = Mary C. Daly
|name = Mary C. Daly
|image = David Schweikert and Mary C. Daly 02.jpg
|image = David Schweikert and Mary C. Daly 02.jpg
|caption = Daly in 2020
|office = 13th President of the [[Federal Reserve Bank of San Francisco]]
|office = 13th President of the [[Federal Reserve Bank of San Francisco]]
|term_start = October 1, 2018
|term_start = October 1, 2018
Line 10: Line 9:
|predecessor = [[John C. Williams (economist)|John C. Williams]]
|predecessor = [[John C. Williams (economist)|John C. Williams]]
|successor =
|successor =
|birth_date =
|birth_date = {{birth based on age as of date|55|2018|10|1}}
|birth_place = [[Ballwin, Missouri]], U.S.
|birth_place = [[Ballwin, Missouri]], U.S.
|death_date =
|death_date =
Line 16: Line 15:
|education = [[University of Missouri–Kansas City|University of Missouri, Kansas City]] {{small|([[Bachelor of Arts|BA]])}}<br>[[University of Illinois at Urbana–Champaign|University of Illinois, Urbana-Champaign]] {{small|([[Master of Arts|MA]])}}<br>[[Syracuse University]] {{small|([[Doctor of Philosophy|PhD]])}}
|education = [[University of Missouri–Kansas City|University of Missouri, Kansas City]] {{small|([[Bachelor of Arts|BA]])}}<br>[[University of Illinois at Urbana–Champaign|University of Illinois, Urbana-Champaign]] {{small|([[Master of Arts|MA]])}}<br>[[Syracuse University]] {{small|([[Doctor of Philosophy|PhD]])}}
}}
}}
'''Mary C. Daly''' is an American economist, who became the 13th President and chief executive officer of the [[Federal Reserve Bank of San Francisco]] on October 1, 2018.<ref name="SFFRB1">{{cite web |title=Mary C. Daly Bio |url=https://www.frbsf.org/our-district/leadership/office-of-the-president/ |website=Federal Reserve Bank of San Francisco |access-date=18 November 2018}}</ref> Accordingly, she serves on the Federal Reserve's rate-setting [[Federal Open Market Committee]] on a rotating basis.<ref name="FRBStructure">{{cite web |title=About the FOMC |url=https://www.federalreserve.gov/monetarypolicy/fomc.htm |website=Federal Reserve |access-date=25 November 2018}}</ref> Previously, Daly was the Executive Vice President and Director of Research of the Federal Reserve Bank of San Francisco, which she joined as an economist in 1996.<ref name="SFFRB1" />
'''Mary Colleen Daly''' (born 1962/1963)<ref>{{cite web | url=https://www.brookings.edu/opinions/who-has-to-leave-the-federal-reserve-next/ | title=Who has to leave the Federal Reserve next? | date=March 22, 2023 }}</ref> is an American economist, who became the 13th President and chief executive officer of the [[Federal Reserve Bank of San Francisco]] on October 1, 2018.<ref name="SFFRB1">{{cite web |title=Mary C. Daly Bio |url=https://www.frbsf.org/our-district/leadership/office-of-the-president/ |website=Federal Reserve Bank of San Francisco |access-date=18 November 2018}}</ref> She serves on the Federal Reserve's rate-setting [[Federal Open Market Committee]] on a rotating basis.<ref name="FRBStructure">{{cite web |title=About the FOMC |url=https://www.federalreserve.gov/monetarypolicy/fomc.htm |website=Federal Reserve |access-date=25 November 2018}}</ref> Previously, Daly was the Executive Vice President and Director of Research of the Federal Reserve Bank of San Francisco, which she joined as an economist in 1996.<ref name="SFFRB1" />


Her research is in the fields of macroeconomics and labor economics and focuses on labor force dynamics and on the impacts of monetary and fiscal policy. She has published influential work on wage, employment, and labor force dynamics, economic inequality, the economics of social security and disability, and evidence-based public policy.<ref name="SFFRB1" /><ref>{{Cite web|url=https://www.frbsf.org/economic-research/files/CV-Daly.pdf|title=Curriculum Vitae, Mary C. Daly}}</ref> Daly has also worked to increase diversity and inclusion within the Federal Reserve System and in economics more broadly.<ref name="SFFRB1" /><ref name="STLFRBPodcast" />
Her research is in the fields of macroeconomics and labor economics and focuses on labor force dynamics and on the impacts of monetary and fiscal policy. She has published influential work on wage, employment, and labor force dynamics, [[economic inequality]], the economics of social security and disability, and evidence-based public policy.<ref name="SFFRB1" /><ref>{{Cite web|url=https://www.frbsf.org/economic-research/files/CV-Daly.pdf|title=Curriculum Vitae, Mary C. Daly}}</ref>


== Education and early life==
== Education and early life==
Daly was born in [[Ballwin, Missouri]]. Her father was a postal worker and her mother was a [[homemaker]].<ref name="STLFRBPodcast">{{cite web |title=Women in Economics: Mary Daly |url=https://www.stlouisfed.org/timely-topics/women-in-economics/mary-daly |website=stlouisfed.org |access-date=18 November 2018}}</ref> She said, "we were not poor, but we weren't very wealthy, either. And at some point my family just, sort of, imploded. And my siblings went to live with my grandparents and I went to live with friends. And I dropped out of high school."<ref name="STLFRBPodcast"/> At the time, she was 15 years of age.<ref name="NYTimes2">{{cite web |last1=Binyamin |first1=Binyamin |title=She Dropped Out of High School. Now She's President of the San Francisco Fed. |url=https://www.nytimes.com/2018/09/14/us/politics/mary-daly-san-francisco-fed.html |work=New York Times |access-date=18 November 2018}}</ref> By age 16, she was living on her own,<ref name="Reuters1">{{cite web |last1=Dunsmuir |first1=Lindsay |title=Daly appointment shows diversity gap between regional Feds |url=https://www.reuters.com/article/us-usa-fed-diversity/daly-appointment-shows-diversity-gap-between-regional-feds-idUSKCN1LU2L2 |website=Reuters |publisher=Reuters |access-date=18 November 2018}}</ref> working at doughnut shops and [[retailer]] [[Target Corporation|Target]], struggling to scrape together a full-time salary.<ref name="LATimes1">{{cite web |last1=PUZZANGHERA |first1=JIM |title=San Francisco Fed elevates a gay woman — its vice president — to the top job |url=http://www.latimes.com/business/la-fi-san-francisco-federal-reserve-president-20180914-story.html |website=Los Angeles Times |access-date=18 November 2018}}</ref>
Daly was born in [[Ballwin, Missouri]]. Her father was a postal worker and her mother was a [[homemaker]].<ref name="STLFRBPodcast">{{cite web |title=Women in Economics: Mary Daly |url=https://www.stlouisfed.org/timely-topics/women-in-economics/mary-daly |website=stlouisfed.org |access-date=18 November 2018}}</ref> She said, "we were not poor, but we weren't very wealthy, either. And at some point my family just, sort of, imploded. And my siblings went to live with my grandparents and I went to live with friends. And I dropped out of high school."<ref name="STLFRBPodcast"/> At the time, she was 15 years of age.<ref name="NYTimes2">{{cite news |last1=Binyamin |first1=Binyamin |title=She Dropped Out of High School. Now She's President of the San Francisco Fed. |url=https://www.nytimes.com/2018/09/14/us/politics/mary-daly-san-francisco-fed.html |work=New York Times |date=September 14, 2018 |access-date=18 November 2018}}</ref> By age 16, she was living on her own,<ref name="Reuters1">{{cite news |last1=Dunsmuir |first1=Lindsay |title=Daly appointment shows diversity gap between regional Feds |url=https://www.reuters.com/article/us-usa-fed-diversity/daly-appointment-shows-diversity-gap-between-regional-feds-idUSKCN1LU2L2 |website=Reuters |date=September 14, 2018 |agency=Reuters |access-date=18 November 2018}}</ref> working at doughnut shops and [[retailer]] [[Target Corporation|Target]], struggling to scrape together a full-time salary.<ref name="LATimes1">{{cite web |last1=PUZZANGHERA |first1=JIM |title=San Francisco Fed elevates a gay woman — its vice president — to the top job |url=http://www.latimes.com/business/la-fi-san-francisco-federal-reserve-president-20180914-story.html |website=Los Angeles Times |date=September 14, 2018 |access-date=18 November 2018}}</ref>


Daly went on to earn a [[General Educational Development|general educational development (GED)]]<ref name="NYTimes2" /> and eventually a bachelor's degree in economics and philosophy from the [[University of Missouri-Kansas City]] in 1985.<ref name=":0">{{Cite web|author=Matt Egan|title=From working at a doughnut shop to the Federal Reserve: The unlikely journey of Mary Daly|url=https://www.cnn.com/2019/11/16/success/mary-daly-federal-reserve/index.html|access-date=2020-11-30|website=CNN}}</ref> She later received a master's degree from the [[University of Illinois Urbana-Champaign]] in 1987 and a [[Doctor of Philosophy|Ph.D]] in [[economics]] from the [[Maxwell School of Citizenship and Public Affairs|Maxwell School]] at [[Syracuse University]] in 1994. She completed a [[Postdoctoral researcher|post-doctoral fellowship]] at [[National Institute of Aging]] at [[Northwestern University]] in 1996.<ref name="SFFRB1" /><ref>{{Cite news|url=https://www.nytimes.com/2018/09/14/us/politics/mary-daly-san-francisco-fed.html|title=She Dropped Out of High School. Now She's President of the San Francisco Fed.|last=Appelbaum|first=Binyamin|date=2018-09-14|work=The New York Times|access-date=2019-05-14|language=en-US|issn=0362-4331}}</ref>
Daly went on to earn a [[General Educational Development|GED]]<ref name="NYTimes2" /> and eventually a bachelor's degree in economics and philosophy from the [[University of Missouri-Kansas City]] in 1985.<ref name=":0">{{Cite web|author=Matt Egan|title=From working at a doughnut shop to the Federal Reserve: The unlikely journey of Mary Daly|url=https://www.cnn.com/2019/11/16/success/mary-daly-federal-reserve/index.html|access-date=2020-11-30|website=CNN|date=November 16, 2019 }}</ref> She later received a master's degree from the [[University of Illinois Urbana-Champaign]] in 1987 and a [[Doctor of Philosophy|Ph.D]] in [[economics]] from the [[Maxwell School of Citizenship and Public Affairs|Maxwell School]] at [[Syracuse University]] in 1994.<ref>{{cite thesis |type=PhD |last1=Daly |first1=Mary Colleen |title=The Economic Well-Being of Men With Disabilities: A Dynamic Cross-National View |date=1994 |publisher=[[Syracuse University]] |location=Syracuse, NY |url=https://catalog.syr.edu/vwebv/holdingsInfo?bibId=2168187 |access-date=20 February 2022}}</ref> She completed a [[Postdoctoral researcher|post-doctoral fellowship]] at [[National Institute of Aging]] at [[Northwestern University]] in 1996.<ref name="SFFRB1" /><ref>{{Cite news|url=https://www.nytimes.com/2018/09/14/us/politics/mary-daly-san-francisco-fed.html|title=She Dropped Out of High School. Now She's President of the San Francisco Fed.|last=Appelbaum|first=Binyamin|date=2018-09-14|work=The New York Times|access-date=2019-05-14|language=en-US|issn=0362-4331}}</ref>


==Career==
==Career==
In 1996, Daly joined the San Francisco Fed as a research economist.<ref name=":0" /> She steadily rose through the ranks of the research department, becoming Executive Vice President and Director of Research in 2017. Her 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, increasing output through workforce development, and disability and retirement policy.<ref name="SFFRB1" />
In 1996, Daly joined the San Francisco Fed as a research economist.<ref name=":0" /> She steadily rose through the ranks of the research department, becoming Executive Vice President and Director of Research in 2017. Her 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, increasing output through workforce development, and disability and retirement policy.<ref name="SFFRB1" />


Daly considers [[Janet Yellen]] a mentor, stating that her career "just kind of exploded" after Yellen was named president of the San Francisco Fed in 2004<ref name="NYTimes2" /> (Yellen went on to become the [[Federal Reserve Board of Governors|Fed's vice chair]] in 2010, and later its [[Chair of the Federal Reserve|chair]] in 2014.)
Daly considers [[Janet Yellen]] a mentor, stating that her career "just kind of exploded" after Yellen was named president of the San Francisco Fed in 2004.<ref name="NYTimes2" /> (Yellen went on to become the [[Federal Reserve Board of Governors|Fed's vice chair]] in 2010, and later its [[Chair of the Federal Reserve|chair]] in 2014.)


On October 1, 2018, Daly became the 13th President and chief executive officer of the Federal Reserve Bank of San Francisco, succeeding [[John C. Williams (economist)|John C. Williams]], who left in June 2018 to become the President and chief executive officer of the [[Federal Reserve Bank of New York]].
On October 1, 2018, Daly became the 13th President and chief executive officer of the Federal Reserve Bank of San Francisco, succeeding [[John C. Williams (economist)|John C. Williams]], who left in June 2018 to become the President and chief executive officer of the [[Federal Reserve Bank of New York]].


=== Other ===
=== Other ===
In May 2019, Daly served as the commencement speaker at the 165th commencement of [[Syracuse University]].<ref>{{Cite web|url=https://www.syracuse.edu/stories/2019-commencement-speaker-mary-c-daly/|title=2019 Commencement Speaker Mary C. Daly - Syracuse University|last=Boccacino|first=John|website=www.syracuse.edu|language=en-US|access-date=2019-05-14}}</ref><ref>{{Cite web|url=https://www.syracuse.com/opinion/2019/05/relax-mom-and-dad-college-education-really-does-pay-off-editorial.html|title=Relax, Mom and Dad. College education really does pay off (Editorial)|last=Board|first=Editorial|date=2019-05-12|website=syracuse.com|language=en-US|access-date=2019-05-14}}</ref>
In May 2019, Daly served as the commencement speaker at the 165th commencement of [[Syracuse University]].<ref>{{Cite web|url=https://www.syracuse.edu/stories/2019-commencement-speaker-mary-c-daly/|title=2019 Commencement Speaker Mary C. Daly - Syracuse University|last=Boccacino|first=John|website=www.syracuse.edu|date=May 9, 2019 |language=en-US|access-date=2019-05-14}}</ref><ref>{{Cite web|url=https://www.syracuse.com/opinion/2019/05/relax-mom-and-dad-college-education-really-does-pay-off-editorial.html|title=Relax, Mom and Dad. College education really does pay off (Editorial) |author=Editorial Board|date=2019-05-12|website=syracuse.com|language=en-US|access-date=2019-05-14}}</ref>


== Selected publications ==
== Selected publications ==
Line 60: Line 59:
==External links==
==External links==
* [https://www.federalreservehistory.org/people/mary_c_daly Federal Reserve System Biography]
* [https://www.federalreservehistory.org/people/mary_c_daly Federal Reserve System Biography]
* [https://anchor.fm/cuseconversations/episodes/Mary-C--Daly-G94-e4c6tk Daly on 'Cuse Conversations Podcast in 2019]


{{s-start}}
{{s-start}}
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[[Category:Maxwell School of Citizenship and Public Affairs alumni]]
[[Category:Maxwell School of Citizenship and Public Affairs alumni]]
[[Category:People from Ballwin, Missouri]]
[[Category:People from Ballwin, Missouri]]
⚫
[[Category:University of Illinois at Urbana–Champaign alumni]]
[[Category:University of Missouri–Kansas City alumni]]
[[Category:University of Missouri–Kansas City alumni]]
[[Category:Year of birth missing (living people)]]
[[Category:Year of birth missing (living people)]]
⚫
[[Category:University of Illinois College of Liberal Arts and Sciences alumni]]

Latest revision as of 02:22, 26 April 2024

Mary C. Daly
13th President of the Federal Reserve Bank of San Francisco
Incumbent
Assumed office
October 1, 2018
Preceded byJohn C. Williams
Personal details
Born1962 or 1963 (age 60–61)
Ballwin, Missouri, U.S.
EducationUniversity of Missouri, Kansas City (BA)
University of Illinois, Urbana-Champaign (MA)
Syracuse University (PhD)

Mary Colleen Daly (born 1962/1963)[1] is an American economist, who became the 13th President and chief executive officer of the Federal Reserve Bank of San Francisco on October 1, 2018.[2] She serves on the Federal Reserve's rate-setting Federal Open Market Committee on a rotating basis.[3] Previously, Daly was the Executive Vice President and Director of Research of the Federal Reserve Bank of San Francisco, which she joined as an economist in 1996.[2]

Her research is in the fields of macroeconomics and labor economics and focuses on labor force dynamics and on the impacts of monetary and fiscal policy. She has published influential work on wage, employment, and labor force dynamics, economic inequality, the economics of social security and disability, and evidence-based public policy.[2][4]

Education and early life

[edit]

Daly was born in Ballwin, Missouri. Her father was a postal worker and her mother was a homemaker.[5] She said, "we were not poor, but we weren't very wealthy, either. And at some point my family just, sort of, imploded. And my siblings went to live with my grandparents and I went to live with friends. And I dropped out of high school."[5] At the time, she was 15 years of age.[6] By age 16, she was living on her own,[7] working at doughnut shops and retailer Target, struggling to scrape together a full-time salary.[8]

Daly went on to earn a GED[6] and eventually a bachelor's degree in economics and philosophy from the University of Missouri-Kansas City in 1985.[9] She later received a master's degree from the University of Illinois Urbana-Champaign in 1987 and a Ph.D in economics from the Maxwell School at Syracuse University in 1994.[10] She completed a post-doctoral fellowship at National Institute of Aging at Northwestern University in 1996.[2][11]

Career

[edit]

In 1996, Daly joined the San Francisco Fed as a research economist.[9] She steadily rose through the ranks of the research department, becoming Executive Vice President and Director of Research in 2017. Her 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, increasing output through workforce development, and disability and retirement policy.[2]

Daly considers Janet Yellen a mentor, stating that her career "just kind of exploded" after Yellen was named president of the San Francisco Fed in 2004.[6] (Yellen went on to become the Fed's vice chair in 2010, and later its chair in 2014.)

On October 1, 2018, Daly became the 13th President and chief executive officer of the Federal Reserve Bank of San Francisco, succeeding John C. Williams, who left in June 2018 to become the President and chief executive officer of the Federal Reserve Bank of New York.

Other

[edit]

In May 2019, Daly served as the commencement speaker at the 165th commencement of Syracuse University.[12][13]

Selected publications

[edit]
  • Daly, Mary C., Greg J. Duncan, George A. Kaplan, John W. Lynch (1998). "Macro-to-Micro Linkages in the Relation between Income Inequality and Mortality", The Millbank Quarterly, 76(3), 315–339, doi:10.1111/1468-0009.00094.
  • Daly, Mary C., Bart Hobijn, Ayşegül Şahin, Robert G Valletta (2012). "A Search and Matching Approach to Labor Markets: Did the Natural Rate of Unemployment Rise?", Journal of Economic Perspectives, 26(3), 3-26, doi:10.1257/jep.26.3.3.
  • Daly, Mary C., Bart Hobijn (2017). "Composition and Aggregate Real Wage Growth", American Economic Review (Papers and Proceedings), 105(7), 349–352, doi:10.1257/aer.p20171075.

Books

[edit]
  • Lifecycle Events and Their Consequences: Job Loss, Family Change, and Declines in Health, Stanford University Press, 2013 (co-edited with Kenneth A. Couch and Julie Zissimopoulus), ISBN 9780804785853.
  • The Declining Work and Welfare of People with Disabilities: What Went Wrong and a Strategy for Change, American Enterprise Institute Press, Washington, DC, 2011 (with Richard Burkhauser), ISBN 978-0-8447-7215-8.
  • Income Mobility and the Middle Class, American Enterprise Institute Press, Washington, DC, 1996 (with Richard Burkhauser, Amy D. Crews, and Stephen Jenkins), ISBN

Personal life

[edit]

Daly is the first openly gay woman to lead a regional Federal Reserve bank,[8] joining Federal Reserve Bank of Atlanta President Raphael Bostic, who is also openly gay. She is the second woman to lead the San Francisco Fed.

Daly is married and resides in the San Francisco Bay area.[2]

See also

[edit]

References

[edit]
  1. ^ "Who has to leave the Federal Reserve next?". March 22, 2023.
  2. ^ a b c d e f "Mary C. Daly Bio". Federal Reserve Bank of San Francisco. Retrieved November 18, 2018.
  3. ^ "About the FOMC". Federal Reserve. Retrieved November 25, 2018.
  4. ^ "Curriculum Vitae, Mary C. Daly" (PDF).
  5. ^ a b "Women in Economics: Mary Daly". stlouisfed.org. Retrieved November 18, 2018.
  6. ^ a b c Binyamin, Binyamin (September 14, 2018). "She Dropped Out of High School. Now She's President of the San Francisco Fed". New York Times. Retrieved November 18, 2018.
  7. ^ Dunsmuir, Lindsay (September 14, 2018). "Daly appointment shows diversity gap between regional Feds". Reuters. Reuters. Retrieved November 18, 2018.
  8. ^ a b PUZZANGHERA, JIM (September 14, 2018). "San Francisco Fed elevates a gay woman — its vice president — to the top job". Los Angeles Times. Retrieved November 18, 2018.
  9. ^ a b Matt Egan (November 16, 2019). "From working at a doughnut shop to the Federal Reserve: The unlikely journey of Mary Daly". CNN. Retrieved November 30, 2020.
  10. ^ Daly, Mary Colleen (1994). The Economic Well-Being of Men With Disabilities: A Dynamic Cross-National View (PhD). Syracuse, NY: Syracuse University. Retrieved February 20, 2022.
  11. ^ Appelbaum, Binyamin (September 14, 2018). "She Dropped Out of High School. Now She's President of the San Francisco Fed". The New York Times. ISSN 0362-4331. Retrieved May 14, 2019.
  12. ^ Boccacino, John (May 9, 2019). "2019 Commencement Speaker Mary C. Daly - Syracuse University". www.syracuse.edu. Retrieved May 14, 2019.
  13. ^ Editorial Board (May 12, 2019). "Relax, Mom and Dad. College education really does pay off (Editorial)". syracuse.com. Retrieved May 14, 2019.
[edit]
Other offices
Preceded by President of the Federal Reserve Bank of San Francisco
2018–present 		Incumbent
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