FRB San Francisco Speeches

Investing in a Durable Economic Future

Federal Reserve Bank of San Francisco President Mary C. Daly delivered remarks at the Anchorage Economic Summit discussing the U.S. economic outlook and monetary policy. The speech covered the Fed's progress in fighting inflation toward its 2% target, noting that interest rates remain modestly restrictive. Daly also addressed policy dynamics including tariffs, immigration restrictions, tax cuts, and deregulation that are affecting inflation and labor supply.

Mary Daly Speech: Steady Through Change: In Policy, Business, and Life

Federal Reserve Bank of San Francisco President Mary C. Daly delivered remarks at the University of Utah on navigating change and uncertainty across policy, business, and personal domains. The speech covers economic outlook, monetary policy considerations, and strategies for maintaining steadiness during periods of change. Daly notes the views expressed are her own and not necessarily those of the FOMC.

Modern Central Banking: Monetary Policy Implementation and Communication

FRB San Francisco President Mary C. Daly delivered remarks at the Institute of International and European Affairs in Dublin, Ireland on November 13, 2025. The speech examined how central banks operationalize monetary policy frameworks to support economic growth, provide liquidity, and maintain financial stability. Daly discussed tradeoffs inherent in various monetary tools and emphasized that all frameworks must evolve as economic conditions change.

The AI Moment? Possibilities, Productivity, and Policy

FRB San Francisco President Mary Daly delivered a speech on AI's economic potential, drawing parallels to historical technology transformations like electrification. The remarks discuss near-term policy considerations and longer-run implications for monetary policy. No new compliance obligations, enforcement actions, or regulatory requirements are announced.

Mary Daly Speech: Fed Regionalism, Independence, and Accountability Structure

Federal Reserve Bank of San Francisco President Mary C. Daly delivered a speech in St. George, Utah on April 8, 2026, explaining the Federal Reserve's regional structure, independence, and accountability framework established by Congress in 1913. The speech addressed public trust in the Fed, describing how the 12 regional Reserve Banks, Board of Governors, and private-sector boards of directors were designed to represent diverse national and regional interests.