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REGIONAL FED BANKS MAY BE KEY FRONT IN BATTLE FOR CENTRAL BANK'S INDEPENDENCE

  • NEWS Desk Global
  • Apr 15
  • 1 min read

San Francisco Federal Reserve President Mary Daly wasn't elected by popular vote, wasn't chosen by an elected official, didn't compete against a publicly revealed slate of applicants and didn't undergo any public vetting before her bank's board of directors gave her a job that helps ​shape the U.S. economy.

Still, Daly says she regards herself and the 11 other Fed regional bank presidents as mainstays of U.S. central bank independence, which remains under threat.


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