“Monetary policy is the tool kit we have for a strong, healthy and sustainable economy,” says Maxwell alumna Mary Daly ’91 MPhil (Econ)/’94 PhD (Econ), president and CEO of the Federal Reserve Bank of San Francisco.

In her interview with PBS, “San Francisco Fed Chief Mary Daly on the 'virtuous cycle' of economics,” Daly explains that “if we invest in each other, then other people lift up, and they invest in others, and you create this virtuous cycle."

Daly understands this firsthand. Faced with financial hardship growing up, Daly overcame these challenges thanks to support she received from a family that invested in her future and helped her continue her education.

She persevered and went on to earn her GED and, eventually, her PhD in Economics from the Maxwell School. As an economist, Daly strives to use monetary policy to ensure prosperity for as many as possible.

View the full interview below or on PBS’s YouTube channel, or read the video transcript.

(January 4, 2019)