QUEENS CHRONICLE, Thursday, September 15, 2016 Page 18
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Lew talks economy at Queens College Secretary of the treasury, Forest Hills native, at student town hall by Michael Gannon
sury in February 2013. During the town hall, Lew fielded quesU.S. Treasury Secretary Jacob Lew was tions on topics ranging from historically low home in his native Queens on Monday, tak- interest rates and the interplay of U.S. and ing questions at a student town hall meeting world economies to why the United States still mints the penny. at Queens College. “I usually let the students set the agenda Well over 100 students packed into the auditorium at the Benjamin S. Rosenthal when I attend these meetings,” Lew said Library for the forum, which was moderated before going out on the stage. He told the Chronicle and the by David Brancaccio, host of students that schools like Queens “Marketplace Morning Report” College are integral to the future on National Public Radio. success of the country. Lew, who granted the Queens “Queens College is a place Chronicle an exclusive interview where higher education is availprior to the session, said he first able and affordable,” said Lew, thought of entering government who has a sister and an aunt as a New York City public school among the school’s alums. student attending Forest Hills He also encouraged students to High School. do what it takes to actually com“But treasury secretary was a plete their degrees, given the difbridge farther than I was thinkference it makes in career opporing,” he said. Jacob Lew t u n ities. A nd he cautioned Lew served as director of the Office of Management and Budget under against being too regimented when starting President Clinton from 1998 to 2001, and in the workforce. “Don’t be the one who says ‘I don’t really again under President Obama from Novemdo that,’” he said. “Do what has to be done. ber 2010 to January 2012. He served as President Obama’s White That person gets more work and more House chief of staff for just under one year opportunities.” Asked by the Chronicle about the probetween January 2012 and January 2013. Obama appointed him secretary of the trea- longed period of low interest rates, he said it Editor
U.S. Treasury Secretary Jacob Lew, left, who grew up in Forest Hills, was the featured speaker Monday afternoon at a student town hall meeting at Queens College moderated by David Brancaccio PHOTOS BY MICHAEL GANNON of National Public Radio. was just one tool that the administration has used to bring the country out of the great recession of 2008. He said it is a bit more complicated than assertions from some critics who say the prolonged rates punish savers and reward borrowing. “It is a reason people coming out of the crisis could buy cars, why they could buy houses,” he said, while acknowledging that
the other side of the coin has had an impact on pension funds and similar accounts that rely on interest on invested money. “I’ll let my colleagues at the [Federal Reserve] decide when to change rates,” Lew said. He said during the forum that the United States’ recovery over the last eight years has been the model for countries from around the continued on page 21
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