the economics of college and to go directly to graduate school and the privilege to study with james tobin who win the nobel prize and then to have a sense of passion for social justice and economics as you know can be very mathematical. and at the end of the day to make people's lives better. he never lost sight of that. also moving through the great depression understanding how important the performance of the economy as a whole is an that inspired me to study economics so tell me how you became interested in economics. >> on the other side of the iron curtain is where i studied and then i had to decide what would be my a phd field. at that time, two things happened to go into environmental economics the first was a member of my family who got very sick because of groundwater pollution, completely preventable if we had good regulation and access to information. and that we have to have policies that are protecting people that allow the economy to grow. and then the second reason at that time science is about the livelihoods of people and the ability for society to do better. sec. yellen:

i went directly to graduate school where i had the privilege to study with james tobin, who later won the nobel prize. i went there to study with him, and he was one of the great american keynesian economists. i think what really inspired me about him is he had a sense of passion for social justice. you know, economics can be very mathematical. sometimes in all the math, people lose sight of the fact that at the end of the day this is about human welfare. it is about making people's lives better. tobin never lost sight of that, and he understood. he too lived through the great depression, and he understood how important the performance of the economy as a whole was for human welfare. he inspired me to study economics. i hope you tell me how you became interested in economics. kristalina: in my case, i studied on the other of the iron curtain. in the 1980's, i had to decide what would be my phd field. at that time, two things happened. needed to go to environmental economics. the first one was a member of my family who got very sick because of groundwater pollution, completely preventa

i went directly to graduate school where i had the privilege to study with james tobin, who later wonel prize. i went there to study with him, and he was one of the great american keynesian economists. i think what really inspired me about him is he had a sense of passion for social justice. you know, economics can be very mathematical. sometimes in all the math, people lose sight of the fact that at the end of the day this is about human welfare. it is about making people's lives better. tobin never lost sight of that, and he understood. he too lived through the great depression, and he understood how important the performance of the economy as a whole was for human welfare. he inspired me to study economics. i hope you tell me how you became interested in economics. kristalina: in my case, i studied on the other of the iron curtain. in the 1980's, i had to decide what would be my phd field. at that time, two things happened. needed to go to environmental economics. the first one was a member of my family who got very sick because of groundwater pollution, completely preventable. if

they take internships, i went directly to graduate school where i had the privilege to study with james tobin and he was one of the great american economists. and i think what really inspired me about him was that he had a sense of passion for social justice. and, you know, economics as you know, it can be very mathematical. and sometimes in all of the math, people lose sight of the fact that at the end of the day this is about human welfare, it's about making people's lives better. and tobin never lost sight of that. he understood -- he too had lived through the great depression and he understood how important the performance of the economy as a whole is for human welfare. and, you know, he was really a mentor to me and inspired me to study economics. i hope you'll tell me a little bit about how you became interested in economics and -- >> well, the -- in my case, i studied on the other side of the iron curtain. in the early '80s, i had to decide what would be my ph.d. field. and at that time, two things happened that influenced me to go into environmental economics. the first one was that t

i went directly to graduate school right had the privilege to study with james tobin who later won the nobel prize. i went there to study with him and he was onent of the great american keynesian economists. i think what really inspired me about him was that he had extensive passion for social justice and economics as you know can be very mathematical. sometimes in all the math people lose sight of the fact that at the end of the day this isn't about human welfare. it's about making people's lives better and tobin never -- he too had to live through the great depression and he understood how important a performance of the economy as a whole was for human welfare and he was really a mentor to me and inspired me to study economics. i hope you will tell me a little bit about how you became interested in economics. >> well in my days i studied on the other side and in the 80s i had to decide what would be mike ph.d. field. at that time two things happened that got me to go into environmental economics. the first one was there was a member of my family who had gotten very sick because of gr

tom: i want to go back to the inflationistas, i want to go back to tobin, where james tobin talked aboutinal gdp targeting, looking at the sum total of the american economy. are we going back to some form of nominal gdp targeting when we get beyond this pandemic and beyond this boom? lewis: the fed talked about all of that in their review. ben bernanke had a variety of proposals that were not close to nominal income targeting -- that were close to nominal income targeting. the fed decided on this in patient targeting framework. i do not think we will move away from that. you can argue average inflation targeting has some important larry's to nominal income targeting. the bottom line is i think they're going to be patient over the next several years unless you think inflation is about to accelerate in a way that is different from the dynamics we have seen in inflation over the last 20 years. then i think that patients will play out. jonathan: always good to hear from you. lewis alexander. numura chief u.s. economist. forecast from jp morgan, 10 year treasury forecast 1.95 by the end of 20