The Federal Reserve’s influence on the economy is immense, and often misunderstood. President of the San Francisco Fed Mary Daly gives an exclusive, firsthand look into the central bank’s daily decision-making, explaining how the Fed’s policies, at both the regional and national level, ripple through society. From housing prices to immigration’s impact on labor, Daly weighs the major factors shaping the U.S. economy. As political and market pressures mount, she reflects on what it means to lead with discipline and data, and what every business leader can learn from the Fed’s balancing act.

This is an abridged transcript of an interview from Rapid Response, hosted by the former editor-in-chief of Fast Company Bob Safian. From the team behind the Masters of Scale podcast, Rapid Response fea

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