San Francisco Fed’s Daly Stays Mum While Criticism Mounts Over SVB Oversight
- San Francisco Fed chief emerges at center of blame game
- Daly has been one of Powell’s most reliable policy deputies
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One of the Federal Reserve’s most prolific policy messengers is laying low at a crucial moment for the central bank, after finding herself at the center of controversy over turmoil in the banking sector.
San Francisco Fed President Mary Daly, who has been an increasingly influential voice on Fed policy in recent years, is now a target of criticism over how effective Fed supervisors were in monitoring and responding to problems at Silicon Valley Bank before it collapsed.