Office of the President

Mary C. Daly, President and Chief Executive Officer

Mary C. Daly took office as President and Chief Executive Officer of the Federal Reserve Bank of San Francisco on October 1, 2018. In this role, she serves on the Federal Open Market Committee, bringing the Fed’s Twelfth District’s perspective to monetary policy discussions in Washington.

Prior to her appointment to President, Dr. Daly served as the Bank’s Executive Vice President and Director of Research, which she joined in 1996.

Dr. Daly’s research focuses on labor market dynamics and the aggregate and distributional impacts of monetary and fiscal policy. Her published work on economic inequality, wage and unemployment dynamics, increasing output through workforce development, and disability and retirement policy is frequently cited by other prominent economists and academics, and by journalists.

Dr. Daly is a sought-after speaker and lecturer on her scholarly research on social economics and has become a strong voice for increasing diversity among the leadership ranks of the Federal Reserve System by building the pipeline of women and minorities entering the economics profession. In addition to visiting and speaking with educators and students about careers in economics, she frequently engages on social media platforms such as Quora, Medium and Twitter as part of her personal dedication to make economics more accessible to a broader audience.

Dr. Daly’s record of public service and research extends well beyond the Federal Reserve System. She has served on the advisory boards of the Congressional Budget Office, the Social Security Administration, the Office of Rehabilitation Research and Training, the Institute of Medicine, and the Library of Congress.

Dr. Daly earned a bachelor’s degree from the University of Missouri-Kansas City, a master’s degree from the University of Illinois Urbana-Champaign and a Ph.D. from Syracuse University. She also completed a National Institute of Aging post-doctoral fellowship at Northwestern University.

Dr. Daly, 55, is a native of Ballwin, Missouri. She is married and resides in the San Francisco Bay Area.

Updated October 2018

Recent Presidents
Past Presidents
Presidents of the 12th District

The Federal Reserve Act provides that the president of a Federal Reserve Bank shall be the chief executive officer of the Bank, appointed by the board of directors of the Bank, with the approval of the Board of Governors of the Federal Reserve System, for a term of five years. Twelve individuals have led the Federal Reserve Bank of San Francisco, ranging in terms of service from one year to 18 years. The first three leaders held the title “Governor.” The Banking Act of 1935 abolished the dual role of governor and agent and created a single leadership role – president.

To learn more about Federal Reserve Bank Presidents throughout the System, visit the Federal Reserve Board of Governors site.

Archibald Kains

Archibald Kains

Served 1914-1917, resigned July 1917

James Kennedy Lynch

James Kennedy Lynch

Served 1917-1919

John Uberto Calkins, Sr.

John Uberto Calkins, Sr.

Served 1919-1936, retired March 1936

William Aymar Day

William Aymar Day

Served 1936-1945, retired December 31, 1945

Ira Clerk

Ira Clerk

Served 1946

Cecil Earl Earhart

Cecil Earl Earhart

Served 1946-1956, retired February 29, 1956

Hermann N. Mangels

Hermann N. Mangels

Served 1956-1961, retired February 28, 1961

Eliot J. Swan

Eliot J. Swan

Served 1961-1972, retired June 1, 1972

John. J. Balles

John. J. Balles

Served 1972-1986, retired February 1, 1986

Robert T. Parry

Robert T. Parry

Served 1986-2004, retired May 16, 2004

Janet L. Yellen

Janet L. Yellen

Served 2004-2010, left October 4, 2010, to serve as Vice Chair of the Federal Reserve Board of Governors

John C. Williams

John C. Williams

2011 – Present