SF Fed President Mary Daly on Rate Hikes, the Economy, and More in Axios, July 11, 2023

President Daly met with Axios’ editorial team and discussed a wide range of topics including economic resilience, lags in monetary policy, supervision at the Fed, and policy direction disagreements. “We have definitely come a long way. We’ve raised over 500 basis points in a short amount of time. We’re seeing the economy respond to that tightening,” she stressed. 


The Federal Reserve Bank of San Francisco (SF Fed) serves the public by promoting a healthy, sustainable economy, and supporting the nation’s financial and payment systems. With offices in Los Angeles, Seattle, Salt Lake City, Portland and Phoenix, the Bank serves the Twelfth Federal Reserve District, which includes one-fifth of the nation’s population and represents the world’s fourth-largest economy. As part of the nation’s central bank, the SF Fed informs monetary policy, regulates banks, administers certain consumer protection laws and acts as a financial partner to the U.S. government.