The Fed’s Goal? Getting the Economy on a Sustainable Path

I had the incredible opportunity to interview Mary Daly, the President and CEO of the San Francisco Federal Reserve. As we all know, the Federal Reserve is raising rates, shrinking their balance sheet in order to fight inflation - but there are increasing concerns over the consequences that those policy decisions have.

People are the economy. The economy is just a bunch of people “peopling” around. That’s really important to keep in mind when making policy decisions. We discuss all that and more in this interview - wealth disparity, generational impacts, lessons that the Fed has learned, the concept of data dependency and lagged metrics, as well as the ties between fiscal and monetary policy.

00:00 - Intro
01:05 - Background
02:59 - Wealth Disparity
06:46 - Generational Impact
09:40 - Tradeoffs
11:56 - Lessons Learned
14:42 - Lagged Data
16:33 - Fiscal and Monetary Policy

DISCLAIMER: This video does not provide investment or economic advice and is not professional advice (legal, accounting, tax). The owner of this content is not an investment advisor. Discussion of any securities, trading, or markets is incidental and solely for entertainment purposes. Nothing herein shall constitute a recommendation, investment advice, or an opinion on suitability. The information in this video is provided as of the date of its initial release. The owner of this video expressly disclaims all representations or warranties of accuracy. The owner of this video claims all intellectual property rights, including copyrights, of and related to, this video.

[briankim]

Wow you are getting the opportunity to interview some really amazing people. Really happy and excited for your channel!

[KylaScanlon]

Thanks for watching everyone. The full transcript is linked in the description box as well as on wherever you listen to podcasts.

[drama_rama_]

this is awesome. to see how far you’ve come with your content so fast… wow. i’m proud of you!

[moemoe.]

Holy shi, you interviewed her fr, that’s crazy. Big step up in the content fr, DO MORE OF THESE

[victorlpz]

Scanlon provided a great video and Interview with Mary Daly. Refreshing to hear about the unique background and perspectives from the San Francisco Fed President. Growth mindset remains key.

[seanhogan]

Great interview! Thanks! Mary said housing is unaffordable and was unaffordable before they started raising rates. So... she just admitted the Fed left rates at zero for way too long and too late. Nice housing bubble you created, Federal Reserve! They didn't get it right then so what faith should we have they are getting it right now??

Short-term rates should float with the market like every other interest rate. A bunch of Ph.D.s are not smarter than the market.

Kyla, great show last week with the guys at The Compound! Keep up the great work!!

[SF]

Thank you for the work that you do!!! Big fan since day 1 ;)

[sleepyhead]

Great info as always! Was excited to hear you on Plain English a few weeks back. Looking forward to seeing your platform grow in the future

[TK-ekkp]

Looking good forward to this. Great work Kyla

[v.k.]

Kyla you need to cross examine these people... Daly sounds so friendly and relatable, youd never guess how much she's done thru ZIRP since 2008 to get us to exactly where we are today. Don't let them use your platform to spin your following

[JDPrice-piyy]

A great video for any Econ 101 class. Thank you!

[rookzen]

It is very impressive to see you interviewing such influential people in our fiscal environment. Crazy that I first watched your TikToks for months, and now you're talking to the President of the San Fran Federal Reserve! Great interview Kyla!

As a side note, have you considered investing in a microphone? If you plan on doing more interviews like this in the future, could be worth it. Food for thought.

[DinoDNA]

Dang, Kayla coming in with a big money

[moemoe.]

I’m gonna be like Michael Scott, get my bag of microwaved vegetables, sit down and watch TV (Kyla’s new YT)

[g.c]

wow...this channel had just reached a different level 😁

[stefano]

At first I read the title as "Fighting inflation with Truss" and I was like are you sure, don't you want to choose anyone else?

[vergurogue]

Fed has raised 3% and done 221 billion of QT since April stocks are down 18%. The fed has another 250 billion in QT and 1 1/4% of raises by the end of the year. The question we need to be answered is if they stop at 4.5% rates but continue QT, what happens? Stocks and bonds are going much lower, and I predict QT will stop before the end of this year, and Fed will start QE again next year.

[HealthyNick]

my econ teacher has us watch your videos

[jude]

Their goal is to serve their political master.

[TheLuciShow]

People is what the economy is about, but what will happen when most of the economy can run for rich people through AI ... that will be a scary time for regular folks