News Coverage Highlights

Forbes Interview with Economist Leila Bengali on Falling College Wage Premiums, August 30, 2023

Wednesday, August 30, 2023

“In a tight labor market, for example, a high school graduate might think it’s easier to find a job with solid wages without going to college. But in a slack labor market, an individual coming out of high school might think, ‘well, there are no jobs and the jobs that are available don’t have very high wages,’” she told Data Reporter Rina Torchinsky. 

Economist John Mondragon on Shelter Inflation in Marketplace, August 10, 2023

Thursday, August 10, 2023

“Rental data that the government uses to calculate the Consumer Price Index can be really sticky,” John Mondragon, Research Advisor at the San Francisco Fed tells Marketplace. “If you’re renting an apartment, and sign a typical one-year lease, your rent is going to be fixed for that year.” 

Federal Reserve Announces that its New System for Instant Payments, the FedNow® Service, is Now Live

Thursday, July 20, 2023

The Federal Reserve on Thursday announced that its new system for instant payments, the FedNow® Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year.

“The Federal Reserve built the FedNow Service to help make everyday payments over the coming years faster and more convenient,” said Federal Reserve Chair Jerome H. Powell. “Over time, as more banks choose to use this new tool, the benefits to individuals and businesses will include enabling a person to immediately receive a paycheck, or a company to instantly access funds when an invoice is paid.”

FedNow FAQ available here. 

Director of the Center for Pacific Basin Studies Featured in Research Platform Faculti, July 12, 2023

Wednesday, July 12, 2023

Zheng Liu, vice president and Director of the Center for Pacific Basin Studies at the San Francisco Fed, spoke with Faculti about how the rise in automation technology contributed to the rise of superstar firms over the past two decades. He explained the empirical link between automation technology and industry concentration, using a general equilibrium framewrk with heterogeneous firms and variable markups.

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

Tuesday, 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. 


Fireside Chat with Mary C. Daly at Brookings, July 10, 2023

Monday, July 10, 2023

San Francisco Fed President Mary C. Daly joined David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy, for an in-person fireside chat at the Brookings Institution, followed by an audience Q&A. The discussion generated extensive media coverage including Bloomberg, Reuters, CNN, and Yahoo Finance. 

President Daly Reveals ‘Direction of Policy’ on Fox Business, February 3, 2023

Friday, February 3, 2023

“Right now, the most important thing to convey to listeners is that the direction for policy is for additional tightening and holding that restrictive stance for some time. But the ‘how we get there,’ the tactics, the meeting-by-meeting decisions really have to be data-dependent,” she stressed. 

Almost Everyone Expects a Recession. Could the Economy Avoid One? – The Washington Post, Pres. Daly Talks to Reporters on November 21, 2022

Tuesday, November 29, 2022

President Daly said that as she travels around her district — which spans nine western states and is the Fed system’s largest district both by geography and by the size of its economy — she hears that “people’s own situations feel different than the situations they fear are out there, or that they even see out there.”

Global Fallout From Rate Moves Won’t Stop the Fed – New York Times, October 7, 2022

Friday, October 7, 2022

“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 price stability.”

President Daly Featured on Newsy’s Morning Rush on September 30, 2022

Friday, September 30, 2022

“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.”

President Daly Featured on Bloomberg Television on August 11, 2022

Thursday, August 11, 2022

“That indignity of inflation is what’s really cruel about inflation — it hurts people who have less, it hurts them more,” Daly said. “And it has that sense that you’re trying as hard as you can and you still can’t make it.”

President Daly: A Fortt Knox Conversation on August 2, 2022

Tuesday, August 2, 2022

“We are still resolute and completely united on achieving price stability, which doesn’t mean 9.1% inflation — it means something closer to 2% inflation, so a long way to go.”

“Americans need to know they don’t have to worry about inflation when they wake up in the morning.”

President Daly Joined Newsy on July 15, 2022

Friday, July 15, 2022

“We have a strong a strong economy, but inflation is too high and that’s what the Federal Reserve is working on – getting inflation down without tripping up the economy and stalling it out.”