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Speech
Good Intentions
Daly, Mary C. (2021-02-04)
Virtual Presentation at Uneven Outcomes in the Labor Market Conference, by Mary C. Daly, President and CEO, Federal Reserve Bank of San Francisco, Thursday, February 4, 2021
Speech

Working Paper
Earnings mobility and instability, 1969-1995
Duncan, Greg J.; Daly, Mary C. (1997)
We study earnings mobility and instability using data from the Panel Study of Income Dynamics. Our main contribution is to update mobility and instability calculations to include data from the 1990s, although we also provide a number of tests of robustness across mobility and instability indicators and sample definition. All in all, we find few trends in earnings instability since the 1970s, particularly among younger workers. However, we find no evidence that instability continued to increase throughout the 1980s and early 1990s. With regard to mobility, we find greater upward mobility ...
Working Papers in Applied Economic Theory , Paper 97-06

Speech
Prospects for Inflation in a High Pressure Economy: Is the Phillips Curve Dead or is it just Hibernating?
Daly, Mary C. (2019-02-22)
Slides presented at the 2019 U.S. Monetary Policy Forum New York, New York, Mary C. Daly, President and Chief Executive Officer, Federal Reserve Bank of San Francisco, February 22, 2019.
Speech

Journal Article
Mixed signals: labor markets and monetary policy
Nechio, Fernanda; Daly, Mary C.; Bosler, Canyon (2014)
Since the Great Recession, standard ways of measuring the labor market have given mixed signals about the strength of the U.S. recovery. This has increased the uncertainty around how to interpret job market conditions, which has made calibrating monetary policy to achieve full employment more challenging. Ultimately, policymakers need to make judgments about how much these conflicting indicators reflect cyclical weakness in the job market versus structural factors that would be less easily remedied with monetary policy.
FRBSF Economic Letter

Speech
3D Public Servants: The Courage to Be Human
Daly, Mary C. (2020-04-16)
Online, prerecorded video presentation at South by Southwest (SXSW), by Mary C. Daly, President and CEO, Federal Reserve Bank of San Francisco, April 16, 2020.
Speech

Speech
Landing Softly Is Just the Beginning
Daly, Mary C. (2024-10-15)
Speech to New York University Stern School of Business, New York, NY, October 15, 2024, by Mary C. Daly, President and Chief Executive Officer, Federal Reserve Bank of San Francisco.
Speech

Speech
What the Moment Demands
Daly, Mary C. (2023-11-17)
Mary C. Daly, President and Chief Executive Officer, Federal Reserve Bank of San Francisco, 33rd Frankfurt European Banking Congress, Frankfurt, Germany, November 17, 2023, 3:30 PM CET (local), 6:30 AM PST
Speech

Working Paper
Okun Revisited: Who Benefits Most from a Strong Economy
Wilcox, David W.; Daly, Mary C.; Aaronson, Stephanie; Wascher, William L. (2019-09-24)
Previous research has shown that the labor market experiences of less advantaged groups are more cyclically sensitive than the labor market experiences of more advantaged groups; in other words, less advantaged groups experience a high-beta version of the aggregate fluctuations in the labor market. For example, when the unemployment rate of whites increases by 1 percentage point, the unemployment rates of African Americans and Hispanics rise by well more than 1 percentage point, on average. This behavior is observed across other labor-market indicators, and is roughly reversed when the ...
Finance and Economics Discussion Series , Paper 2019-072

Journal Article
The Singularity of the Dual Mandate
Daly, Mary C. (2022-10-03)
Economic security depends on both jobs and stable prices. Together, these two congressionally mandated goals constitute the Fed’s dual mandate. This mandate is not a choice between two desirable things. It is a balance meant to deliver on a singular goal—a sustainable and expanding economy that works for everyone.
FRBSF Economic Letter , Volume 2022 , Issue 27 , Pages 8

Speech
From Gaps to Growth: Equity as a Path to Prosperity
Daly, Mary C. (2021-09-29)
Presentation to UCLA Anderson Forecast Webinar, by Mary C. Daly, President and Chief Executive Officer, Federal Reserve Bank of San Francisco, September 29, 2021
Speech

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