Today,Phaninc Exchange a conversation with Mary Daly, president of the Federal Reserve Bank of San Francisco. We talk about policy and her past. Decades ago, her family faced the pain of high prices and a turbulent economy, so she dropped out of high school to earn money. That experience, she says, helps guide her today.

We also hear from Mary Daly on the Fed's performance during the pandemic, its fight to bring down inflation by raising interest rates, and what that might mean for jobs.

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