Before highlighting priorities for this week, i want to address the horrific attack by Hamas Terrorists this past saturday. The United States condemns the attack in the strongest possible terms and stands resolutely with the people of israel. Turning to our priorities here ill start with the Global Economy. I am glad that some of the pestism that was expressed remains unwarranted. The Global Economy continues to be in a better place. Projections for Global Growth are roughly the same as until july and the i. M. F. Expects global inflation to continue to fall. While some countries experience slow in growth, we do not spill gofers destabilizing the Global Economy but we closely monitor Downside Risks to the economic outlook. In the United States we have had an historic strong recovery driven by the Biden Administrations economic plan. Unemployment is at 3. 8 and inflation has declined considerably and making longterm investments. Bipartisan infrastructure law the chips in science act and Inflation Reduction Act and the impact will be felt far beyond the United States. As one example, the inflation redeficit reduction act investments in clean energy will address the Climate Change which is high on the agenda this week. As we navigate risks of the Global Economy we see russias war against ukraine an affront to our values and to International Law and the preliminary of integrity. The Biden Administration is committed to supporting ukraine for as long as it takes. Our actions matter for the ukranian people for our own National Security interests and for the values we share with our allies and partners and we are sharing the burden with these allies and partners who have provided ukraine with robust economic assistance and similarly focused on ensuring accountability. Ukraines i. M. F. Program is key to both delivering macroeconomic stability and advancing reforms. Looking ahead, i want to be clear that we cannot allow our support to ukraine to be interrupted. Our allies and ukraine people that the Biden Administration with the bipartisan majority of the u. S. Congress and the American People will work so that ukraine receives the assistance it needs to win this war. We also continue to work to mitigate the other impacts of the war including on food security, especially since russias cruel withdrawal from the black Sea Grain Initiative and remain focused on working with the Global Coalition to deprive russia of the funds it needs to wage this unjust war. We have put in place a novel price cap policy which is significantly reduced russia refuse over the last 10 months while promoting Stable Energy markets. Global Energy Prices have been largely unchanged while russia has had to sell oil at a significant discount or spend huge amounts on its alternative. I also support harnessing windfall proceeds from russian assets immobilized in particular clearinghousees and using the funds to support ukraine. Russias invasion of ukraine has caused untold human suffering and economic damage. We must continue to impose severe and increasing costs on russia and continue efforts to ensure russia pays for the damage its caused. Our focus on the Global Economy and addressing global challenges including through the International Financial system continues to shape our approach toward our relationship with china. As we protect our National Security interests, we see a healthy economic relationship that benefits both sides in cooperation on debt restructuring and global challenges like Climate Change. Following my visit to on china this summer, we announced economic and financial working groups, a further significant step we are continuing to deepen our communication and i look forward to meeting with peoples bank of china to discuss macroeconomic and Financial Issues this week including how treasury and the p. P. O. C. Take forward the financial working group. Throughout the week we will be focused on advancing our work to evolve the Multi Lateral development banks. These meetings mark the oneyear anniversary of my call to evolve and we have accomplished a tremendous amount in just one year including forming a Broad Coalition to take the evolution aagenda af forward. But there is much more to be done and need to keep the momentum going in conversations this week and when we return home. Notably, our evolution agenda doesnt stop at world bank. It extends to the Regional Development banks and how they work as a system. Turning to our efforts to strengthen the i. M. F. , we are seeking to reach consensus on a proportional increase and resources to put the i. M. F. s financees and keep it at the center of the Global Financial safety net and we are exploring ways to give voice to developing countries to changes in the management and Board Structure of the fund. Finally, our focus on the International Financial system also includes pushing for changes to make the debt architecture work better and faster which is crucial for development and financial stability. Thank you for joining me this morning. And i look forward to a productive week ahead. Do youe 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. House is currently in recess as g. O. P. Members are discussing the upcoming speaker election. Right now, no vote is scheduled on the voice floor. Steve scalise is still short of the 217 votes needed to assume the speakership. Follow live coverage here on cspan. 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