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 28-year veteran of the Federal Reserve System. President Daly joins David for this special live episode of Macro Musings to talk about her non-linear career path to the world of monetary policy, the long-term economic impacts of AI, the future outlook for Fed policy and the Fed's framework, and much more. Transcript for this week's episode. Mary's Twitter: @MaryDalyEcon Mary's San Francisco Fed profile David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Related Links: *Facts, Fears, and Functionality of NGDP Level Targeting* by David Beckworth 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 R-Star Over the Medium to Long-Run (00:19:06) – The Long-Term 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

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.