Thanks very much for that kind introduction. I’d like to thank Park Price for helping organize this event and for his long service as a San Francisco Fed Director. Park is the definition of a Fed Family member, and I am delighted to deliver my first speech as the president and CEO of the Federal Reserve Bank of San Francisco in the community Park calls home. I would also like to recognize our veterans who have chosen to spend part of their day with us; we thank you for your service. I’ve been coming to Idaho since 1997, when I was just a rookie economist. It was love at first sight, the mix of agriculture and ... (full story)

With the U.S. economy at or beyond full employment and inflation likely to rise slightly above a 2 percent goal over the next year, the Federal Reserve should continue to raise rates gradually, its newest policymaker said Monday. “I view this gradualism as a process of iterated learning, guided by incoming data,” San Francisco Federal Reserve Bank president Mary Daly said in her first public remarks since taking her new job last month. “That is, we take a policy action, wait, learn about the economy’s response, and repeat. The information gathered through this gradual approach is crucial for determining the speed and ... (full story)