Mary Colleen Daly

Mary Colleen Daly (born 1962/1963) is an American economist, who became the 13th President and chief executive officer of the Federal Reserve Bank of San Francisco on October 1, 2018. She serves on the Federal Reserve's rate-setting Federal Open Market Committee on a rotating basis. Previously, Daly was the Executive Vice President and Director of Research of the Federal Reserve Bank of San Francisco, which she joined as an economist in 1996.

Education and early life Daly was born in Ballwin, Missouri. Her father was a postal worker and her mother was a homemaker. She said, "we were not poor, but we weren't very wealthy, either. And at some point my family just, sort of, imploded. And my siblings went to live with my grandparents and I went to live with friends. And I dropped out of high school." By age 16, she was living on her own, working at doughnut shops and retailer Target, struggling to scrape together a full-time salary.

Daly went on to earn a GED She later received a master's degree from the University of Illinois Urbana-Champaign in 1987 and a Ph.D in economics from the Maxwell School at Syracuse University in 1994. She completed a post-doctoral fellowship at National Institute of Aging at Northwestern University in 1996.

Career In 1996, Daly joined the San Francisco Fed as a research economist.

Selected publications

Daly, Mary C., Greg J. Duncan, George A. Kaplan, John W. Lynch (1998). "Macro-to-Micro Linkages in the Relation between Income Inequality and Mortality", The Milbank Quarterly, 76(3), 315–339, doi:10.1111/1468-0009.00094. Daly, Mary C., Bart Hobijn, Ayşegül Şahin, Robert G Valletta (2012). "A Search and Matching Approach to Labor Markets: Did the Natural Rate of Unemployment Rise?", Journal of Economic Perspectives, 26(3), 3-26, doi:10.1257/jep.26.3.3. Daly, Mary C., Bart Hobijn (2017). "Composition and Aggregate Real Wage Growth", American Economic Review (Papers and Proceedings), 105(7), 349–352, doi:10.1257/aer.p20171075.

Books

Lifecycle Events and Their Consequences: Job Loss, Family Change, and Declines in Health, Stanford University Press, 2013 (co-edited with Kenneth A. Couch and Julie Zissimopoulus). The Declining Work and Welfare of People with Disabilities: What Went Wrong and a Strategy for Change, American Enterprise Institute Press, Washington, DC, 2011 (with Richard Burkhauser). Income Mobility and the Middle Class, American Enterprise Institute Press, Washington, DC, 1996 (with Richard Burkhauser, Amy D. Crews, and Stephen Jenkins), ISBN

Personal life Daly is the first openly gay woman to lead a regional Federal Reserve bank, joining Federal Reserve Bank of Atlanta President Raphael Bostic, who is also openly gay. She is the second woman to lead the San Francisco Fed.

Daly is married and resides in the San Francisco Bay area.