ms. bair brought it up quickly.epending on what form the bill does take, is that something that could boost economic growth as well as shore up the u.s. social security system? >> i think long term it's good for growth if we get something through. it will also be good for politics, we'll have accomplished something people can point to. we're not there yet, but i hope we can be there. but i would not point to that as the magic bullet to get the economy moving. >> certainly something that could help though. any thoughts on immigration reform, mohamed? >> so i think we should have had it a while ago, and if you just look at what's been proposed and you look at the impact long term, unambiguously positive. not that it has any short-term thing effects, but again, it speaks to a political system that cannot get its act together. let me, let me mention one other thing, and ron introduced it. there are two views about the role of the u.s. in the global economy. one view is the stronger we are, then the better the global eco

. >> ms. bair, do you believe that this is contributing to the widening of income inequality? >> i do. it is not trickle down. it has resulted in financial asset inflation. that benefits people who own financial assets who are the wealthier folks. there are not quality jobs. the vast majority of people in this country -- they don't own financial assets that have been inflated through this aggressive monetary policy. i think they wanted to create jobs but it is not happening. >> what is the biggest risks to the economy right now? >> i think the unsustainability of the course that we are on. we have tepid growth and we are too much trying to go back to the past. it is just not sustainable. you need real wage growth. you need production of real goods and services that others will want to buy. fueling growth through increasing levels of leverage causes collapse. i am afraid with cheap interest rates, that is what it is designed to do. it is not sustainable. i am in the process of writing a book for young adults on the crisis and i have been interviewing families who were impacted.

. >> ms. bair, do you believe that this is contributing to the widening of income inequality? >> i do. it is not trickle down. it has resulted in financial asset inflation. that benefits people who own financial assets who are the wealthier folks. there are not quality jobs. the vast majority of people in this country -- they don't own financial assets that have been inflated through this aggressive monetary policy. i think they wanted to create jobs but it is not happening. >> what is the biggest risks to the economy right now? >> i think the unsustainability of the course that we are on. we have tepid growth and we are too much trying to go back to the past. it is just not sustainable. you need real wage growth. you need production of real goods and services that others will want to buy. fueling growth through increasing levels of leverage causes collapse. i am afraid with cheap interest rates, that is what it is designed to do. it is not sustainable. i am in the process of writing a book for young adults on the crisis and i have been interviewing families who were impacted.