Fed's Mary Daly: From a Donut Shop to the Federal Reserve
Boss Files with Poppy Harlow
CNN
4.6 • 538 Ratings
🗓️ 18 November 2019
⏱️ 66 minutes
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| 0:00.0 | Hey guys, I'm really excited about today's episode. |
| 0:07.0 | So here's the backstory. |
| 0:08.5 | I read this fascinating article about six months ago by my friend Heather Long in Washington |
| 0:13.2 | Post about Mary Daly. |
| 0:16.0 | She is the president of the Federal Reserve Bank of San Francisco. |
| 0:20.5 | And the minute I read it, I knew that I had to have her on boss files to share her story. |
| 0:25.2 | Not only is she only the second woman to hold that post in the bank's 105-year history. |
| 0:31.8 | At 15 years old, she dropped out of high school and she worked in a donut shop. |
| 0:37.3 | But a woman named Betsy changed her life and helped her find resilience. |
| 0:42.8 | That difference that allowed me to escape, I want to repeat that escape velocity for others |
| 0:48.4 | and so that everybody has a chance to do that if they want. |
| 0:51.7 | Escape velocity. |
| 0:52.8 | I heard you say this before. |
| 0:54.5 | What is escape velocity? |
| 0:55.7 | So escape velocity, if you're blasting off to the moon, you need enough momentum. |
| 1:00.3 | You need enough velocity to escape the atmosphere. |
| 1:03.5 | So if you think of the context we all grow up in, an environment you grew up in, you often |
| 1:07.8 | need enough velocity, enough momentum, enough umph to actually break free from that |
| 1:13.3 | and then decide how you want to live. And I got escape velocity. Today she is crafting U.S. monetary |
| 1:19.2 | policy, and she has made income inequality a key part of her agenda. She's calling out a diversity |
| 1:25.8 | crisis in economics. |
| 1:28.5 | And as the Fed lowers rates for a third time this year, she stands by that decision. |
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