States is monitoring potential economic effects from the war but has yet to see any significant impact. She also said the u. S. Is not ruling out the possibility of sanctions for iran and hamas in light of the attack on israel. The United States condemns the attack and the strongest possible terms. Turning to our priorities here in miracast, i will start with the global map of the economy. The Global Economy continues to be in a better place then they thought it might be. The projections are roughly the same as they were in july. While some countries continue to experience slowing growth, we continue to closely monitor downside risks. In the last eight we had fedex truck historically strong recovery by the Biden Administrations economic plan. Inflation has declined. We are also making longterm investments. The chips and signs act and the Inflation Reduction Act and the impact will be felt far beyond the United States. The massive investments in clean energy will help the Global Challenge of Climate Change which is rightfully high on the agenda this week. As we never the risks of the Global Economy, we see this as a major headwind and an affront to our values in International Law and territorial integrity. The Biden Administration is committed to supporting ukraine for as long as it takes. Our actions matter for the ukrainians, for our own National Security interests. And we are sharing the burden who have provided ukraine with economic assistance. There are literally focused on ensuring accountability. Ukraines imf program will deliver macroeconomic stability. Looking ahead, i want to be clear we cannot allow our support ukraine to be interrupted. Our allies in the ukrainian people show that with the support of a bipartisan majority, the u. S. Congress and the American People will work so that ukraine received the assistance it needs to win this war. We will also continue to mitigate the other effects of war including security, especially since russias withdrawal from the black sea initiative. We significantly reduce russian review while promoting Stable Energy markets. Local Energy Prices have been largely unchanged. I also support harnessing proceeds from russian assets and immobilizing particular clearinghouses to support ukraine. We must continue to impose the increasing costs on russia and continue efforts to ensure russia pays for the damage it has caused. I will focus on the Global Economy and on addressing Global Challenges also continues to shape our approach toward a relationship with china. This will protect our National Security interests. This will benefit both sides in cooperation on restructuring and Global Challenges. Following my visit to china this summer, we announced economic and financial working groups, further significant steps that will continue to deepen our communication. I look forward to meeting the peoples bank of china to discuss Macro Economic and Financial Issues while in mirror cash this week. Throughout the week, we will also be focused on advancing our work to evolve Multilateral Development banks. These annual meetings mark the oneyear anniversary to evolve the mdbs and we have accomplished a tremendous amount in just one year. There is much more to be done. To keep momentum going. Notably, her evolution engine extends to the Regional Development bank. That is how they work as a system. Turning to our efforts to strengthen the imf, we are seeking to reach a thing quarterly sources. To put them on sound footing and keep it at the center of the Global Financial safety net. We are also exploring ways to give more voice to developing countries through changes in management and board structure. Finally, her focus on the International Financial system is also pushing for changes in making architectural work better and faster. That is crucial for development and financial stability. Thank you for joining me this morning and i look forward to a productive week ahead. Do you think the work in the middle east has the potential to inflame inflationary pressures around the world and what measures will affect the oil prices . In this age, we are focused on human beings who are affected by these barbaric attacks on israel and the suffering it has caused as president said, we stand firmly behind israel and are there to support israel in any way that is necessary and while we are monitoring potential economic crises, i am not really thinking that that is a major likely driver of local economic outlook. So we will see what impact it has. So far out that we have seen anything suggesting it will be very significant but of course we are monitoring Economic Impact as well. Rather other avenues in this administration that there considering to make it harder for organizations to access financing question mark we have not in any way relaxed sanctions on iranian oil. And we have sanctions on hamas, hezbollah, this is something we have been constantly looking at and any information that comes available to tighten sanctions, we will continue to do that. I dont have anything to announce. Just that there are certain areas that are deserving of constant attention with respect to our sanctions. Hello, secretary ellen. On that point, there is not a lot of attention drawn to the 6 million in iranian proceeds that have been unfrozen under specific terms. If the u. S. Government finds that iran was directly involved, would that money be refrozen potentially . These are funds that were made available purely for humanitarian purposes and the funds that have not been touched. I would not take anything off the table in terms of future possible actions. There was a lot of discussion about a soft landing. But we talked about the imf and the world bank and the variety in the Global Economy. Are you too concerned there is not enough attention being paid to this outlier . What are you seeing in terms of the impact on inflation . You are meeting with the chinese, you mentioned in your remarks, you are looking for cooperation from china. On that issues and other structural issues. But with all the visit you have made and other u. S. Officials have made to china, we are not releasing anything. It looks like the questions are still here. Starting with the soft landing, i see this as the base case for the United States. The socalled soft landing. Our labor market is very resilient and continues to inform very well. We have low unemployment and solid job creation. These are pressures that could have been a concern. Are there risks . Of course there are. We have located paula from russias brutal attack of ukraine. The opposing costs on low income countries. We are trying to address this in the situation in israel poses additional concerns. Im not saying that the soft landing is a sure thing. You asked about the pd governor. I think we are making meaningful progress. With respect to economic and Financial Issues. We expect to discuss debt issues and all the progress has been slow. It is something we have long focused on and will continue to focus on. We have seen some meaningful progress in particular cases. In the case of debt relief for zambia. I have more progress can be made. There was clear recognition that the World Economy the Global Economy pans on china and the United States working together to solve problems. This is something we both recognize. Certainly, Climate Change is an area we need to Work Together to address it. We have worked very constructively with representatives from the pse to advance a common agenda. I definitely see a potential growth to deepen our Work Together. Wesley wanted, thank you secretary yellen. He mentioned aid to ukraine, increased support for the world bank and you are other countries to follow suit. There are serious doubts about the Biden Administrations ability to get congress to back those pledges. There is increased political dysfunction in washington. How concerned are you that that this function is undermining your credibility here . What are you hearing back from your counterparts . Are they concerned or anxious about what is happening in washington . What i say about this is funding for ukraine, both military and direct budget support along with resources for israel are the absolute Top Priorities of the Biden Administration. We have made that completely clear to congress. Once the speaker is in place. Cant tell you precisely what the timetable is for getting this done. It is an absolute top priority to get this done. We believe the support for doing this is there. Our supplementary funding request. Part it would take the form of loan guarantees. We are asking other countries. We will reach out to other countries and asked him to join us. We are seeing some positive responses. Quick cspan is your unfiltered view of government. We are funded by these Television Companies and more. Buckeye broadband support cspan as a Public Service along with these other television providers, giving you a front row seat tomorrow to democracy. Cspans washington journal, live form involving you to discuss the latest issues that in government, politics, and public policy. Coming up thursday morning, arkansas republican congressman french hill discusses the House Speaker contest in the israel hamas conflict. Breaking defense editorinchief aaron mehta shares how military conflicts in ukraine and israel are affecting the u. S. Defense policy. California democratic congressman brad sherman also talked about the House Speaker contest in the israel hamas conflict. Cspans washington journal, join in the conversation live at 7 00 eastern thursday morning on cspan, cspan now, or online at cspan. Org. Cspan now is a free mobile lab featuring your unfiltered view of whats happening in washington come alive and on demand. Keep up with the days biggest events with live streams of hearings from the u. S. Congress, white house events, the courts, and more from the world of politics. All at your fingertips
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