News Coverage

Group media Q&A transcript following President Daly’s keynote, “Resolute and Mindful: The Path to Price Stability” at the Orange County Business Council on November 21, 2022. 

  “Pausing is off the table right now, it’s not even part of the discussion. Right now, the discussion is, rightly, in slowing the pace.”

“If I can do one thing for the public, I would say: stop thinking about pace and start thinking about level.”

“It is important to recognize that high inflation is what we would call a regressive tax. It is affecting the very people who are the most affected by the pandemic and the very people who suffer from inequality already.” 

“There’s literally no doubt in my mind that we need to put a more restrictive stance of policy in the economy to further get demand and supply in balance,” she said.

“Of course, as a human, you care about the pain other countries are experiencing — but as a policymaker, I have a single tool,” Mary C. Daly, president of the Federal Reserve Bank of San Francisco, said in an interview on Tuesday. “It’s a blunt tool, even for the U.S. goals of full employment and […]

“We’re data dependent. When the data shows what we need to see, then we will downshift,” Daly said Wednesday in an interview at Bloomberg headquarters in New York.

“The most important thing I want all your listeners to know is that the Fed is never on a preset course, where we’re going to do this no matter what – we always take incoming information.”

“Our No. 1 priority is to get inflation down. American consumers, businesses are suffering with high inflation, which is eroding their lives and livelihoods. That is why we’ve taken a very rapid pace of increases — to bridle the economy, get demand back in line with supply and give relief on the inflation front.”

“My job and the job of all the teams who work with me is we need to get out and talk to people because ultimately the policies we make are for everyone who lives in our communities.”