Mary Daly, President of the Federal Reserve Bank of San Francisco, shares her insights on the recent 25 basis point rate cut and the Fed's shift in strategy. She delves into the complexities of inflation, particularly in housing, and emphasizes the need for collaboration between sectors. Daly discusses the evolving labor market, highlighting the role of CEOs in hiring decisions. Plus, she examines the impact of AI on productivity and its potential to transform industries amidst fiscal policy challenges.

A lot of the time, economic policy can seem pretty impersonal — cold, hard, data-driven. But at the heart of the Federal Reserve are people: fallible, complicated people who are just doing their best to steer the economy in the right direction. Often, we remember them just for their economic decisions. But today, we're airing two episodes from our daily economics show The Indicator that profile the people inside the Fed. First, we're heading back to the 1970s to revisit Arthur Burns' oft-criticized stint as Fed chair. Next, we have a conversation with Mary Daly, the current president of the San Francisco Fed, about her remarkable path from high school dropout to one of the most important economic voices in the nation.These two Indicator episodes were originally produced by Viet Le and Brittany Cronin. They were fact-checked by Sierra Juarez and Dylan Sloan and edited by Kate Concannon. The Planet Money version was produced by Dylan Sloan, engineered by Josh Newell and edited by Dave Blanchard.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Mary Daly, the president of the Federal Reserve Bank of San Francisco, shares her insider perspective on the impending interest rate cuts. She discusses the delicate balance the Fed must strike between tackling inflation and supporting job growth. Daly highlights personal experiences that illustrate the real-world impact of these economic policies. Surprisingly, she also weaves in a nod to cultural phenomena, connecting economic discussions to current pop culture, like Taylor Swift. It's an insightful mix of economics and human experience!

Mary Daly, President of the Federal Reserve Bank of San Francisco, provides a deep dive into the Fed's strategies for managing interest rates and inflation. She expresses confidence in the prospect of two rate cuts by 2025, showcasing a balanced approach that considers economic data. Daly discusses the challenges of sustaining job growth while keeping inflation in check, emphasizing the importance of effective communication from the Fed amid evolving economic conditions. Her insights reflect a cautious optimism about navigating the uncertain economic landscape.

In a captivating discussion, former Treasury Secretary Robert Rubin emphasizes the need for adaptive fiscal strategies amid rising deficits. Blair Effron shares insights on tech industry expansion outside Silicon Valley, while Mary Daly addresses the implications of low birth rates on workforce sustainability. Niall Ferguson reflects on historical economic trends, and Marc Rowan discusses innovative solutions in higher education amid current challenges. They delve into the evolving landscape of supply chains and technology, offering a nuanced look at the future of the economy.