i was deprived. my school, when will i visit you again, take my bags and run to you? my school is no longer there, now destruction is everywhere. no more no more students. no more ringing bells. shall i write about mywhere i c? shall i write about flowers which now smell of destruction? syria, my beloved country, when will i return back to you? . had so many dreams none of them will come true. all i want is to live in my country and freedom. syria, my beloved country. i love you.

♪

>> good evening. it is a pleasure to be here with you with two extraordinary courageous women. we are going to tell you that they have seen with their own ass and have felt horrificses to a humanitarian crisis. ladies, thank you for being with us today. thank you to you both. will have the president and ceo of international rescue committee will talk about some of the dire circumstances that the 9 million refugees and the internally displaced people. first, we want to hear from two women who have experienced what happened in syria yesterday. last august, your hometown was one of the places that was attacked with chemical weapons. take us back to that day and

what you saw and what you witnessed. my cousin and i were preparing and working with them. internet that there was a emma: attack. then after an hour, we heard that a similar attack hit my town. we are hearing the missiles and the bombing, but we didn't know that this bombing this night is different from any other nights before. it's carrying gases and gases. so after half an hour, we start feeling dizzy. we start our noses, our eyes were running so we did recognize that this is something different in the air and that we rushed to the other rooms and we wake up all of the family members and the kids. we try to help them, to put some

kind of scarves on their noses. then we decided -- >> your throat is burning, eyes burning at this point? >> yes. our noses were running. we couldn't see well and we find some difficulties breathing. we didn't imagine that it would be worse and we decided to go to the hospital to help there because we used to be nurses at that hospital, so we rushed to the hospital and tried to help. on our way, it takes usually five minutes to get there, but because of the heavy bombing and shelling, it took us 20 minutes. i remember when we arrived in that neighborhood, i saw dozens of corpses on the streets of women and men and children.

i just remember myself screaming and yelling out and saying oh, god, oh, god, i was so shocked. i didn't imagine to see that view. when i get closer, i saw people in a very scary way, frightening way, i was afraid of them. then i saw one of the doctors at the door of the hospital, he says, me and my cousin, go to the hospital and try to help. downstairs, the hospital is like a basement, 300 square meters basement and it was full of people, injured people, dead people, people who were crying, screaming and shouting, trying to wake up their relatives.

it was very scary, very, very scary situation and horrible. >> and you and your brother were there over a period of time. >> yeah. >> just being in contact with the people was making you sick as well? >> yeah, we didn't know that we don't have to be in contact with those people. all we have to do and we were able to do is just take off their clothes and wash their bodies with water and put vinegar on their mouths and noses and for some severe cases, we had small amount of shots, that's all that we have. we didn't recognize that this contact will affect us. >> could you smell anything at this point? >> yes. a different smell in the air but we don't have a lot of time to think about it. we were told that we will die that day because of not only the chemical attacks, but also the shelling, so there were injured people coming from the chemical attacks and from the gases and

people were injured from the shelling. >> shelling as well? >> yeah. >> you actually lost your sight for a period of time? >> yeah, i couldn't see. i was blinded for a week after that day. i remember the corpses in the house next to the hospital because there is no place any more in the hospital to, for them, so and after that, that house was shelled also. so those dead people died twice that day, yeah. >> i want to talk to you in a moment about the children because, of course, in any conflict, children suffer so terribly, women, but the town had been under siege before this chemical attack. >> for a year. >> for a year. >> yeah, for a year. >> what were the conditions

prior to the chemical attack? >> the most horrible conditions you can imagine, no services, no food. >> to no power. >> no power. every day, the situation became worse and worse. the kids and the children were the most affected. we felt like their childhood was stolen from them. we tried to do something to them, me, my cousin, some of the girls from the town, they try to help us. we do some kind of entertaining things, we do -- we tried to regain and the happiness of their lives. we organized a party like holiday. >> at the end of ramadan? >> yes.

we organized a very, very beautiful party. and it was very, it was a week before the chemical attack. just a week. some of those kids that were at the party died that day. that day, 2,300 died, 900 were women and 700 were children. >> say that again. >> in one night, 2,300 people died that were killed. 900 were women, 700 were children. >> you were already politically motivated before all of this. tell us about what happened to your father. >> my father, at the end of 2011 he was detained for helping

injured people. >> for helping injured people. >> yeah. >> not for political activism, not trying to overthrow the regime, for trying to help people. >> yeah. he is just a simple man. he told me and my brother to take our right. >> he said he raised you to be a rebel? >> yeah. he always told me about how his father, how they killed people in the 1980's, so he told me those things and he told me that one day we have to liberate our country before the revolution started. >> do you know where your father is today?

>> no. we just know that he is in jail. we hear rumors about him, but we don't know if it's accurate information about him. >> like so many people that have disappeared? >> yes. >> thank you, i know -- i can't imagine how hard it is to have to relive this, but we benefit so much from understanding your testimony and your witness of it. thank you. >> thank you. thank you for this chance. [applause] >> can i tell them you're worried about your english? no need to worry about the english.

you communicated just fine, my friend. you spent your early childhood in the united states, but have been back to your country many, many times to syria. you were there for two years during the height of the until now, you could say. tell me about the day you experienced the barrel bombing. >> it was early in january of 2013. i was doing door to door distribution in a little village which is in the northern suburbs of hamel. there was absolutely nothing going on that seemed a little bit peculiar. they were kids riding on their bikes, a little vegetable cart and then all of a sudden the helicopter comes and you hear people screaming, nekacit which means it's descending. that means it's going to start to throw. then you look around you and all of a sudden you see mothers carrying children, one with one arm and one with another arm and looking for a hole to jump in like a rat.

six barrels fell on us that day. it was, i'm sure that the people who know about what is going on in syria have heard the words scary, horrific, disaster rouse, diasterous. it was a combination. you didn't know where the barrels were going to fall so you didn't know where you could hide. you didn't know if you could stay alive or not. luckily for me, sadly for them, it fell about half a kilometer away from us and it brought down two buildings. as we headed towards those buildings, we wanted to see who was still alive so we can try to pull them out of from under the ruins and we're all running and there is a 3-year-old child under the ruins i really didn't think this is dead. i didn't know the back of his head was open. from the front, it was fine.

everything that i have read about in history, i have seen it being practiced in syria as we speak. every four minutes, a syrian person is detained. every 10 minutes, a syrian person is missing. every 13 minutes, a syrian person is wounded. and every 15 minutes, a syrian human being is getting killed. >> two people will die in syria while we're having this conversation? >> yes, ma'am. >> one of the other things about the barrel bombs that day was many people's lips turned blue. you don't know what was in the barrel bombs? >> when you look at the white smoke, you look at the people's faces and everybody's lips were

blue including mine. for many months after that, everybody was coughing. i'm still coughing. i'm still coughing a very strange cough. we don't know what they put in these barrel bombs. >> let's talk about daily life in syria right now to the the best you can paint a picture for me 80% of the country has been demolished on the ground, 80%, which means as you were pointing out, no water, no electricity, no food. >> no diesel. >> no school. no school for the kids, right? >> that's the most horrible thing, not having school, that means a hole generation is in

-- whole generation is in danger. the generations just to see blood and all of these terrible things and forget about learning, forget about improving their lives. that's very harmful. the future is not going to be that bright for syria if the situation can stay like that. those kids will know syria. they are out of school and away from education and all these needy things for us, that means the future of syria is not going to be as bright as we dreamed of. >> you were telling me earlier that it's a sunny days that you dread. those are the days the planes

can fly. the cloudy days you think there is a break in the shelling. >> yes. >> if i may just add one thing. currently the percentage of illiteracy in syria is over 20%. children over 6 years old have not gone to school for three years in a row. there are two reasons for that. the first reason is when they actually go to school, the schools get shelled and targeted. we have seen many horrific events of schools being targeted while the kids are in school. it happened in two places. >> there are u.n. charges that children are being targeted in syria specifically. you're a witness to that? >> a lot of kids who died in my town were killed by snipers and those snipers are knowing that those, they are killing kids.

they are killing children. that's very horrifying because i feel like they are, you know, they're punishing -- >> they're punishing the parents. >> so tell me what you're trying to do to make a difference. >> well, we always say something in syria that the revolution is not just a rifle. it's also giving a lending hand to a person in need. it's also a song, a prayer, a drop of tear, a flame of hope. i do whatever i want to do because, well, let me rephrase that. i am who i am because of the country that i grew up in. i grew up here. i learned in the united states that you're supposed to help someone when they're in need. three years ago i went to syria and i'm going back. >> are you frightened? >> i'm petrified. i'm petrified. [applause] >> five kilometers as you head

from turkey inside syria, five kilometers, you're no longer safe and you don't know when your moment might come. we are ok on the ground, but we're never ok in the air. the helicopters, the meg 27's, the missiles, the artillery, we get shelled in the northern states of syria, we get shelled at least seven to eight times on a daily basis. and if i picture a city for you, it's a little city of at least 20,000 people in population. it's a ghost city now. there is absolutely no sign of life. you go inside the city and you're looking at the streets and the buildings and the walls are down and you see the beds where people were still sleeping and you can see the bloodstains still on the bed sheets. they are dead.

>> in many ways women have been at the heart of this. women have, men have suffered greatly, but in the world, when men are suffering, the women are suffering worse and the children worse still? >> children and women are in every part of the revolution. it takes part as a mother, as a nurse, as an admin straightor, -- administrator, as an activist and everything she participated and as for the role that the man play in the revolution, she was motivating him. she was behind that.

she was behind the whole revolution, this is my opinion. i'm so proud to be a syrian woman. [applause] >> i have to say if the two of you are good examples, syrian women are strong and they are relentless and they will make a difference in all of this. will you go back? >> yeah, for sure. >> i'm planning to stay now on the border between syria and turkey. we're planning to go into the northern part of syria and try to do some kind of program for the kids, psychological programs, educational programs. >> i know you both are despairing for your country and we're going to talk to david in a minute about international response and the humanitarian crisis that exists, but do you believe that syria can rise again, can come back? >> well, we have already won.

i can give you self examples on how we won. for example, the syrian women can now participate in all different aspects of the public world without having to be belonging to a particular party. they can be free. they can be democratic. they can be independent and liberal. the evolution, the social evolution that i have witnessed in my training seminars when i was traveling from one village to another, we would be getting shelled by missiles and the trainees would say please continue. please continue. it was remarkable. >> we want to die educated, you told me. >> that's what they said. if we're going to die, we want to die educated. please continue. [applause] >> the work has no end. there is no give up. we'll continue.

>> you will continue to fight. >> yeah. >> you have inspired me and i know you have inspired this audience. ladies, thank you so much for sharing your story. \[applause] >> amazing. i'm going to move over this way and we'll talk to david. thank you so much. [applause] >> so, well, it's dire. it's dire but not hopeless or you wouldn't be here. >> that's our job in the i.r.c. and the other humanitarian organizations to try to emulate the kind of extraordinary courage, resilience that you have heard tonight and it's truly an honor to be here and humbling to be on the same platform as the women that you have heard from tonight, but the

testimony you have heard from them is the hesitate that our staff here see every day running cross border operations into syria or operating in the four neighboring countries where we're active. >> so, david, it has been called the worst humanitarian crisis of the 21st century. put it in some context for me. first of all, do you agree, and secondly, let me understand -- >> it's the worst humanitarian crisis. it's the defining humanitarian crisis and the tragedy is, it's --

rwanda of the 21st century. i can see why. we're coming up on the 20th century of the appalling genocide in rwanda. there is a different historical parallel. in 1979 when the soviet union invaded afghanistan, basically half of the population were displaced into neighboring cubs. that is what is happening today, the 9 million figure that you used tonight, that's out of a population of 21 million. 3 million into the neighbors countries, 6 million displaced in their own country. you have heard extraordinary testimony about what is going on inside syria. i don't think people appreciate what is happening in the neighbors. in lebanon, it's a country of 4.5 million people. it has 850,000 refugees. that is like the whole of britain, the whole of britain -- shall i have your mic, thank you? >> someone can do something about my mic. >> can you hear him? >> yeah. >> the scale of the refugee burden in lebanon is like the whole of britain coming to mark in the space of three months and three years. it's an extraordinary toll on very fragile societies. that's why i think it's important to see it's not just as a syrian civil war, it's a regional conflagration of major and defining proportions.

>> the crisis is obviously not getting better. it's getting worse. the u.n. -- we have more mics. everyone can have a mic. >> need to keep it up by your chin, please, thank you. >> television is easier. i got to tell you, it is. [laughter] first of all, all of those people out there, you can see the camera and secondly you don't have to worry about this. anyway, to the point, the u.n. humanitarian has given a report in syria declaring that the situation has only gotten worse in the five weeks since the security council passed a resolution which i might note actually had the russians signing on and yet still there is isn't passage inside the country to deliver humanitarian aid. if the security council resolution isn't working, what will? >> well, for three years, we have been arguing for a

humanitarian resolution of the united nations. we finally got one. if there is one thing worse than not having a resolution, it's having a resolution that isn't then followed. it makes a mockery not just of the united nations as an institution, it makes a mockery of the countries that have voted for it. it's significant what she has said. we're arguing very simply that every permanent member of the security council and other countries in the region with an interest need to appoint humanitarian envoys of a very serious nature that can give daily attention to this. with all of the crises in the world, the attention of john kerry and other foreign ministers is dragged elsewhere. this is a crisis that has tardy and episodic attention on the humanitarian side. it needs sustained attention. that kind of initiative drawing on u.n. ambassadors or other former skects of state or senior -- secretaries of state or senior politicians to play a daily role in exposing the brutality and forging the local

cease-fires, to allow organizations like ours to deliver aid. in the last three years, the i.o.c. has managed to help 500,000 syrians with medical aid and 500,000 syrians with nonmedical items to help get through the winter. you heard tonight, she actually received one of the aid packages that we sent in there. so it is possible to get across border. it's very hard to get across conflict lines. that's what you need daily engagement to ensure that despite a civil war, you can deliver aid to those in need. >> so what kind of pressure can you bring? do you think the observers from the very countries, is that the next step? >> i wouldn't describe them so much as observers. they are ago tailtors. >> troublemakers? >> agitators with attitude and with correct and authority, the authority of their governments and the truth is attention wanders.

the wandering attention is betraying generations of people in syria and the neighboring countries. just given the focus of this conference, 80% of the refugees are women and children. just be absolutely clear about that. every crisis, who bear the greatest brunt? it's women and children. so, for example, we're running 18 centers in the neighboring countries. what do the women who come to those centers report to us? what they report to us is much heightened levels of sexual violence, massively increased levels of domestic violence and shockingly in 20% of the caseload in early jordan, forced early marriage is part of their family experience. very young girls being forced into marriage for reasons of security or simply to get money into the household. that is the kind of trauma that is being suffered every day by women and very young girls in syria and in the neighboring

countries. >> so in terms of the syrians who have been able to leave the country, the amassing of these camps in lebanon primarily, but in the region, what -- >> it's really interesting that you use the image of the camp because the iconic image of a refugee is someone in a refugee camp. 85% of the refugees in the syria crisis are not in camps. in lebanon, they have experience with palestinian refugee camps. they vowed never to build another camp. in lebanon, 850,000 people, refugees in that country are in urban areas. so 1,000 lebanese towns and cities have doubled their population because of the refugee flow. this is people sometimes with savings, remember, this is a middle class country, syria, is dissolving before their eyes. they're renting, they're borrowing, they're begging or squatting. go to any town or village in

lebanon, you'll meet syrian refugees. the old model of delivering services in refugee camps doesn't work. we want to provide community-based education to help the kids and we have curriculum to help them do that. there is a partial humanitarian response outside the country which desperately needed added resource and effort. >> the country you have 2.5 million people besieged and cut off from aid virtually completely. >> what does it say about the rest of us that people are living in these circumstances. the well, i think that, i hesitate to say this but the -- let me give you an example. for our organization, we raise more money from the public in the space of four or five weeks of the philippines crisis than we have raised in three years of the syria crisis. >> what disasters are more appealing to people, apparently? >> i don't believe the people have lost their spirit of

generosity. what i think has happened is they lost the sense that they can make a difference. >> so a bleak picture. >> the message i want to say is that actually there is more capacity in the n.g.o.s, not just the i.o.c., but other incredibly brave n.g.o.'s to do much, much more. there is a test being posed to all of us. there is a test to governments, whether they're willing to step up to do the relatively easy things which are about supporting humanitarian aid and hard things of stopping the war. there is a taste for the neighboring countries who are -- a test for the neighboring countries who are under huge burden. there is a test for n.g.o.s about whether or not we can amend our practice and change the way we work so that we're operating in urban areas with the kind of efficacy and efficiency that people have a

right to demand but also there is a test for all of us, the public, because, look, post-iraq, post afghanistan, post the financial crisis, you can see why the temptation is to turn away from abroad. my very strong message is that we can't afford to turn away and the people, the poor people that you have heard from, at least has been born witness to tonight can't afford to turn away. 80% of humanitarian aid still comes from western countries. >> 80%. >> 80, yes. >> so in addition to sending our dollars, is this a situation that can be affected by political pressure here at home, do you believe, or do you think that there is no, that that's just not going to work. >> you got to believe that. look, i spent 15 years in politics and left politics six months ago to join the humanitarian movement. clearly i believe -- >> even read about that over here. >> i believe in the power of politics. it's important to see the two ends of the telescope. what i say to people, the humanitarian sector, we can stop

the dying, but it takes politics to stop the killing. you need to operate on both sides. the fear always in the humanitarian movement is we don't want to be politicized and that's absolutely right. we deliver aid impartially and independently to those in need. the message is a different one. don't politicize the humanitarian movement, bring humanity to politics. that is the voice that needs to be heard in the corridors of power. >> that seems like the perfect place to end. david, thank you so much. fantastic. [applause] ♪ [singing in foreign language] ♪

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[singing in foreign language] ♪

♪ [singing in foreign language]

♪ ♪ [singing in foreign language]

[applause] >> i am a ukrainian-american. this is the woman i am here for. [applause] internationally acclaimed top singer does not begin to describe her. she is a patriot. she cares passionately about her country, its democracy, its independence and read him.

-- freedom. when ukraine was threatened with a sham election, she used her celebrity during the orange revolution. she joins millions of her fellow citizens in independence square to stand with them and rally them on behalf of a democratic ukraine. she has served in parliament and she has fought for the reform of ukraine's criminal justice system. she has championed human rights. she has led the fight against human trafficking. a terrible scourge that extracted a toll on women and girls in ukraine, as it does in so many countries. they are enticed with the prospect of good jobs and instead they are thrust into the nightmare of modern day slavery. they disappear, never to be heard from again.

she produced video clips to alert women and girls to the danger posed by the traffickers. she worked at the united nations on a campaign of which her song " not for sale" became an anti-trafficking rallying right -- cry around the world. [applause] last year, when ukraine was threatened by pro-kremlin forces, she became the protest leader on the my don. -- maidan. she rallied her fellow citizens right after night for hours on end. in the freezing cold. she kept up her spirits as they

stood for ukraine's integration of europe. they stood for justice, for dignity, for freedom. what you saw in the video is true. as the situation became grave, and the crackdown began, and with it, violence, that still lives, it was her voice on the loud eager. in the midst of the chaos and the horror, she was singing the ukrainian national anthem. she was him bolding her -- emboldening her countrymen and women. she received death threats. she was told she would be killed if she did not leave the road -- protests she kept singing.

she kept believing in a better future for our country. she has been compared to katniss from the hunger games. [laughter] she is a true heroine of ukraine. last month, the first lady presented her with the international woman of courage award. it was for her steadfast commitment to nonviolent resistance and national unity. in the fight against corruption, and human rights abuses. and now, you will learn even more about this courageous woman. i am proud to call her my dear friend. [applause] >> thank you. thank you so much.

i think that in that role, she has done the most extraordinary things. it is one of the great undocumented things. [applause] welcome, ruslana. >> allow me to explain more about this. it is a symbol of freedom. when we were on the maidan, you have to understand how it would be. all night, people were on the maidan with these lights. it means that we are powerful. we are free. [applause] if you won't support ukraine, switch on this light. everybody has that. it means that we support read him.

>> i see some lights going on here. cell phone lights in the audience. we have a small maidan here. thank you very much. [applause] >> i love it. i will treasure it. thank you so much. you have just come from ukraine. you are on the ground for the last four months. you are an iconic these of the revolution.

give us just a sense of the feeling of what it has been like and what it is like now from the inside. >> first of all, allow me to explain more about the situation right now. ukraine is -- the war is about ukraine choosing democracy. they do not want the power of putin. we lost crimea. there was a referendum. we call it the kalashnikov referendum. >> i like that. we have not heard of that before. also, we have a part of ukraine in the same scheme. putin proposed a new constitutional right. sorry.

you go to the past. not the future. [applause] thank you. nobody supports you. nobody chooses the bad things that you destroyed our lives. golden -- putin destroyed my life and my country. that is why i was nervous. thank you for this possibility to talk to you and explain more about the maidan. it is not just a place. it is the center of kiev. it has been everything for months we lost a lot of people. people were killed by snipers. everybody knows what is happening on the maidan.

even now, every day, every night, people believe that they will change our country. we will change ukraine. we do not have results right now. i am happy that yanukovych disappear. i am focused on the new election. i am not sure that putin will agree with the new president. that is why we understand next month that it is a dangerous time for ukraine. for months, peace protests were everyday and every night. there were about 5000 people to 100 people every night.

nights, i was on the maidan. [applause] it was cold. it was dangerous. >> at one point you were singing the national anthem. were you not afraid? >> i have two stories. i was on the stage. i was on the stage with a microphone. i was trying to support people with a good song and good words. we wanted to explain what was going on. i remember my friend asked me why?

snipers are looking for you. we checked the buildings around. snipers are looking for you. i had a jacket. i took it off. i left. i was not strong enough. snipers can see me. the second story was on the stage also. i remember the last bad night where people were killed. there were a lot of bombs. they happened at the same time. i was so nervous. i ask this military guy to shut up. give me time to say something. i have a lot of stories like that. [applause]

[laughter] have we in the united states been naïve about putin? we seem to get it wrong every time. he is out boxing us. what do you think. what is your idea about the psychology of putin? >> you will never understand putin. you do not know how bad it is. i remember the soviet union. it is gone from this fewer. period. gone from this human lives mean nothing.

power means everything. there's a lot of fear. there are a lot of bad things. you will never understand putin. we understand how he is dangerous. >> you are very active in the orange revolution. what has driven you to your activism? everything disintegrated into political scandals and corruption and bad government. what is going to be different this time? we have been through that. you went through that. why should this revolution be different? >> we never lost maidan.

that is people power. it is a human movement. to control government, to change our country. that is why we never lost it. we lost it after the orange revolution. these guys will change our country. now, i feel that way now about putin. even the election could change our country. we unite how -- all countries. the western part, the eastern part of ukraine. south together. i think that he worries about our. -- power. i have bad news for him. if you talk to putin right now, your guys will send this statement from the stage.

i have bad news. we will see one day that the russian people will switch on lights of freedom. i think maidan will win in russia. i have bad news. we will see one day that the russian people will switch on lights of freedom. i think maidan will win in russia. [applause] >> do you think that putin was acting not out of a show of strength, but an active fear? he's always happened in maidan and he worried that it could come to russia. >> you have to understand that

it is volatile. it is between big money. couldn't -- putin had a lot of power. no one can stop them. he has propaganda. it is bad for all of us. it is a battle between money and truth. between war and peace. ukraine chooses peace. no weapons, no war. >> what do you want us to do? [applause] everyone in this theater would like to ask you what the united states should be doing. you know that we are not going to go to war with russia over ukraine. what should we be doing? >> please, we would ask -- we wait for your help as a guarantor of our independence.

that goes back to the budapest agreement. not from russia. it is a bad example. we spoke about you. it is a bad example putting us in the power. some young boy may be strong. he's may want to be the same as putin. that is why we need to stop them. you understand how it works. let's support our light. >> thank you so much. everyone who has a light, put them onto some or -- support ruslana and ukraine. >> thank you. [applause]

[applause] i thank you. >> now for epic doubleheader. two women who have defined rights for women. a super woman of the world economy and managing director of the imf. she has been an administrator of agricultural affairs and of trade. she was the first woman to become finance mr. of the g8 economy. she is the first french head of the imf to behavior productively in a hotel.

in fact, should she ever wanted, she has everything one needs to be president in product fast in france except for a motorcycle helmet. [laughter] former secretary of state hillary rodham clinton needs no helmet. [applause] she has been hit with everything and never broken stride. she has her own share of notable firsts. she was first lady of arkansas and the first commencement beaker at wellesley. she was the first female chair of the legal services corporation. she was the first female senator from new york. she is first in the heart of democrats to be the next presidential candidate. [applause]

now i know why this grant says caused -- script says pause for applause. [laughter] the only person more qualified with abraham lincoln, and the tea party would not have them. let's show our appreciation. hillary rodham clinton. [applause] >> hello.

one other thing. >> we have tom friedman of t"ne york times." a man but he is the next best thing which is a sensitive man. him. be very nice to tom, where are you? >> there he is. applause] here?t was i thinking head, my girls in my don't blow it, dad. treat to be here. there has been some remarkable testimony from all of these from the different

countries but i want to pick up with what was said about ukraine. both had to negotiate with vladimir putin, who does not the most people friendly guy let alone woman friendly guy. what did you learn from that experience? what should we know about him as a person? and how are we doing in managing crisis? >> tom, first it is great to see be back 'm thrilled to here at this wonderful conference. and everybody who has put it together and i'm be here y pleased to who hasistine leguard, shown such great leadership. ukraine one example but there through the ore international monetary fund. we could be here until breakfast is going on what with russia and in particular vladimir ing on with

putin. i will try to be brief and make a few points. paouutiputin, in my view, is by the past. e wants to restore what he views as the proper place of world order. he's motivated by his looking on history, going back to the czars. publicly said the collapse of the soviet union was a great catastrophe. believes that politics is a game, which means that russia can't do well with all resources and assets it has, starting with its other people are doing well. therefore he wants to do what he russian evate the osition particularly in its

neighborhood among those countries this used to be part the e soviet union and/or warsaw pact. what he seems now to be doing is looking for ways to score points home, to build up his political base relying on the appeal to greater russia, to avoid the protests and demonstrations that were eginning to raise questions about his legitimacy, about the direction he was taking his country country. so one of the surest ways of to cause attention is a ruckus somewhere else. e wants to stop the further europeanization of those parts andurope particularly south east. and he wants to try to create a european unionhe unit he calls the you'eurasian

with countries like belarus and stan. and there is the personal feeling that crimea was given so he has set about to post the boundaries of world war ii europe. i believe over the long run it losing strategy. but i think that the united and our european allies have to be both strong and patient. e have to help to re stostore e opportunity of the baltic european ther eastern nations to feel free from ntimidate station and that is -- intimidation and that is largely a question of energy subversion of their democracies by influence -- peddling t moscow.g with

i think this is a chance for the united states and other i.m.f. toons like the be clear the takeover of crimea was illegal. illegitimate. the united nations general assembly has overwhelmingly condemned it. we need to be putting together both financial and technical ukraine so that they can emerge from this crisis unified.e and and we have to play a long game ourselves. we are a r problem is raucous democracy as are our and we are allpe still trying to get outer budgetary houses in order, set priorities for our own people. but we, like previous leaders and f citizens, have to say to really s, it is important that we say no to somebody like vladimir putin and it in a smart way that makes him think twice about what he is achieve.

>> thank you. applause] maybe the teresting, two most important people that with this o wrestle on the international stage are women. angela merkel who will determine more about how this whether it ends well. bring us up to date on your ukraine ons with because you are central to providing the economic support they need to sustain them crisis.there >> thank you very much, tom. delighted to be with the two of you. on the ne, we have been ground as soon as the new authorities of ukraine called us. fact finding h because we feeded to know what in the books, how much reserve there was in the central bank.

bad was it? >> it was bad. what is more complicated with ukraine you have all the normal there are but then other parallel entities which legitimately but have some funny second set of books. with these doubts and we convert ed and when he authorities asked us into a negotiations vote and i'm so proud of the team that was on a ground because there was group of men and women who stayed there stationed in kiev working some 18 to 19 hours dayon hall-jontkae day, day af. e will be submitting to the board of the i.m.f. which includes all member states undering russia a program which we will lend to ukraine

$14 billion and and, llion probably, morning important-- more import is one thing and there is a need for money, we the ukrainian authorities and ukrainian people their destiny, to take their economy into their hands nd deal with it in a transparent, honest, governed by so they can go in the direction the people indicated was their future. do that there will be lots of things. i won't bore you with the budget that needs to be voted with the truth on the price of energy about, l have to come the right exchange rate where the currency has to be. things have to go -- they have to happen over time. have to happen just overnight but it has to happen and it needs to be implemented,

checked, controlled, in the name of the people. >> are we the united states our share to support the i.m.f. in this mission? the truth. >> you are asking the truth? no. >> what are we doing? [applause] >> i think everyone here who doesn't know the inside of this to y would be interested know what aren't we doing? > the i.m.f. is in three businesses. surveillance. we go under the skin of the members to see if the numbers are right. we lend minute to countries it done that and we have the last 70 years around the world starting in the ukraine world war, cond latin america, asia, back to kraine, to all central and eastern europe when the iron curtain fell. we do that. technical assistant and capacity building. to grow strong because we need

that with some countries particularly ukraine, we need to a very solid capital base. e cannot live on renewable loans. you can't be a firefighter and cup. a little you need the big johose. we need.hat retty much the entire membership has ratified the reform that was agreed to and uniteded actively by the states back in twe2010 and now has tunately the congress not taken the opportunity to reform. ratify this because the united states has a institution n the because it was a leading member it can black everything. a firefighter and i have this cup that works. it is a pipe but it is not a big hose that i need. 19 years ry clinton,

ago you went to beijing and participated in the first u.n. there. summit one thing you said there was ever again will we separate women's rights from human rights. applause] >> how are we doing? give us your report card. well, tom, we came out of with a platform for action that was agreed to by the 189 countries that sent official delegations. that platform for action calls or the full participation of women in their economies, in their political systems, with to healthcare and ducation, to be fully functioning equal citizens. and i think we have certainly progress. there is absolutely no doubt about that. through the clinton

foundation on a project called to try to really assess what we have achieved, gaps are and what the agenda for the future are. because 19 years ago we didn't manual -- imagine the digital technical world we find ourselves today. so we are looking at the glass half full and there are depending hallenges in part on different levels of defend cultural, and ious, social attitudes practic practices. and i think it is important a fabulous for gathering like there one is to e part of the international taking stock of what we have achieved and what more we need do. there are still some horrific situations. girls who are

even registered at birth. hey are still considered sbgtd dare. there is -- secondary. here is still a disparity particularly in asia driven primarily by china and india the population numbers of girls and boys. million about a three plus gap. girls are still the last to be denied health care, , unable tod to labor go beyond primary education, ages with very young all that that means. those know that we have obvious discriminatory laws, practices, that we still have to tackle. the more here are subtle obstacles. christina and i have

talked in and she's been i.m.f. ting through the or world bank or u.n. and other organizations in both the public sector.ate so, i think it is important that at this broadly and say, yes, we have made progress. that.be proud of but we can't rest. we have a long way to go before that was set in 1995 is reached. madam legarde, are you seeing in your investment in education or women and girls the multiplier that you expected in these economies? >> tom, i brought a present for you. [laughter] >> you will have all the numbe s

numbers. [applause] [applause] itbut to the numbers because is important to actually identify what policies need to in order to give acce economies, up the remove the barriers, and not but the cultural barriers the economic barriers. hat we did with that work is identify in many countries what women can input bring to generate more output. economic jargon but if you bring more women to job market you create value, ake economic sense and growth is improved there. are countries where it is almost a no-brainer. korea, japan, soon to be china, certainly germany, italy.

why? because they have an aging population. in countries like japan or korea, immigration is complicated. so, what is the deal? open up the market for women. very explicit numbers in there that shows the level of each of these countries can be significantly letting women y access the job market. we are very pleased having done very detailed work about some of those countries, the prime minister of jap japan, prime minister abe has an element for child care centers. applause] >> he has set targets because in addition it measuring you need set targets. quotas.alk about quetie when the prime minister of japan 70% of the will be

women will access the workforce, the prime minister of korea saying the same thing, there are measurable results to be had as a result of that. you look at what the netherlands have done, encouraged part-time, eliminate discrimination, that has improved the situation of dump women accessing the job market. you look at what the president of brazil did followed y his successor to subordinate certain indemnities and women can go to work and show up for work so were in the le who admit that because there is money at stake it is orth it and it has changed the market. we look at numbers, up side and barriers and obstacles.

give you a final example. taxes are ntries assessed on a family unit and he marginal rate of taxation applies much more heavily on the secondary wage. because women are generally paid less than men for the same job secondary wage. right? so they are taxed much more the taxation e of system in place. if you change that and instead of having a family unit you have individual, then that disincentive goes away. those are the things the i.m.f. the first time is actually tudying in detail and will create data. applause] >> tom, if i could just add, for -- and i, before the

eyes i could my see people i knew out there -- the argument for women's equality and rights was pbnd foremost a moral argument, right? argument. a political as i think where it is now an economic argument is in many maturing of the case that women's rights are uman rights but also a very important way of enlisting greater support. you are well known for your writing about the world is flat. can't really be flat if you have half the population either discouraged from or against when it comes to economic activity. as use you will not be productive as you would otherwise. >> it is not only smart it is strategic. strategic.very and where women are more equal instability, fewer

conflicts, greater democracy and government. these go hand in hand. part of what -- applause] has rt of what christine done -- and i will toot her horn only recently as begun looking at these statistics. has these i.m.f. three principal missions. governments listen to the i.m.f. when they make the case that increasing women's access to and participation in the economy will raise your gross omestic product and that is true even in the united states. it is not just true somewhere else. greatrcentages are not as here but even in the united tates what we are learning and cheryl sandburg and the report hours,google the last 48 the way women are treated is but no w much subtler

less damaging, not only for the individual woman but for the a whole.s that is a profound message i ope more people and institutions will help us make. applause] >> we will go from the public to more personal. is there still a double standard n the media about how we talk about women in public life? i want to ask specifically a lot of fun researching both of you and i that i oss a standard can't believe is true but you were meeting with a foreign night and flown all tied your layer back and when he he was o the room frightened because he heard when your hair was back you were unpleasant value. and if your hair is short you are going to devalue them? i have my hair a bit longer last october for the annual meeting.

a story was written saying that theree my hair was longer .ould no longer be haircuts >> i guess that answers the question. that.p on !> really, tom there is a double standard obviously. either experienced it or at least seen it. there is a deep set of cultural cultural, psychological views that are manifest through this double standard. young lawyer a there was a column in the paper was advice and it frs about the workplace. questions that i read

one day was dear so and so -- a -- and the writer said i've got a promotion for to havet time i'm going my own office and i don't know how to decorate it. do you have any advice about is appropriate for the orkplace and it was initials la like h.r. >> the answer was i can't tell initials if you are male or female because if you recommend you have a family put the pictures in your office because everyone will responsible, a reliable family man. if you are a female, don't have ny pictures of your family because then they think you won't be able to concentrate on your work. reading that and this was so long ago, and yet some of attitudes we know persist. and ey persist in as open al many ways transformation

society ours is in the 21st century, you know how deep they are. why it is important we surface them and why we talk .bout them and help men and women recognize fromthey are crossing over an individual judgment, which we are all prone to make and have a about somebody, man or woman, into a stereotype. some kind of gender based characterization of a person. so, the double standard is alive well. and i think in many respects the principal propaga persistence. its > i want you to talk about you headed a major international law irm, first finance minister,

but as a european woman is the different?ng how is it different trying to be a pioneer there? policeman don't inw you did your high school the united states. the class feeling is but there is equally a class ceiling. because t is different i was privileged to grow up in a country, france, which has regarded women going to was as something that either necessary right after the because there r had been so many casualties, so many men had died and william to participate in the work in the factories and in the in the civil service. and i think, not to rewrite

generally the gel was it was e convinced that necessary it bring the woman in. gave the first who vote.h woman the right to so there's always been there a financing of child care centers and institutions that families, not just , enable ut families to go to nd women work. and like in germany and like in italy. that way i found myself privileged and there is the benefit of that. you there are class ceilings. interviewed as a young associate i went to a law irm in france and they said language, practice, yes, good. you a job.e

i said great. what can i expect? don't expect to milwaukee partnership. i said why is that? me with surprise. because you are a woman. years t was there many ago. i'm not sure that it has changed markedly in the last 30 years. that element ill of class ceiling and this smile soften in myself board meetings and discussions when there are many gray suits the table and when i speak about women's access to i see that little smile. i say yes, i'm the lunatic women.ho talks about applause]

>> given what you have both said there are so many women here and women who y young would be interested in what is your best advice to young women want to rise in this world, ave the kind of pioneering areers you have had where the biases still exist. >> i get asked that question think is n, which i also quite telling that it is on the minds of so many young women. i always say that you have to play both an outside and game. on the outside, you have to find raise these issues that rooted in sexism or in ld fashioned irrelevant expectations about women's li s just to score a point but to change a mind.

was talking about sitting in the room and i have woman in a he only room and had that experience women's king about issues and see the eyes glaze off and mind wandering, then you think of some way it bring it back like i know you so a daughter, you must be proud of her. what do you want her to do? you have to think of ways to what it is you are trying to convince the other a man, to dominantly believe. there is the whole outside piece of it. the inside is equally important. predecessors was eleanor roosevelt and she amously said in the 1920's if woman wants to be involved in the public and in her case she is talking politics but it true in professions, business, et cetera, she has to grow skin thick as the hide of a rhinoceros. an back then this was

obvious point of concern and conditio contention. too many young women, i think, themselves than circumstances warrant. selling too often themselves short. hey too often take criticism personally instead of seriously. you should take criticism simple you might learn something, but you can't let it rush you and you have to be resilient enough to keep moving orward despite whatever the personal setbacks, even insults come your way might be and that takes a sense of humor about yourself. this is hard won advice that i'm putting forward here. t is not like you wake up and understand this. [applause] a process.s and you need other women, you need your friends to support you

and you need male friends as well as female ones. role models. all of that is true. the robably at the end of day you really have to be good aspirations.igh you have to be well educated, well prepared and willing to your chances when they come your way. bit of yourself a little slack. i will end by saying at this point in my life and career i employed so many young people and one of the differences is that whenever i young woman i want you to do there, take on this responsibility, i want you almost invariably they would say do you think i can. i'm ready?hink i wouldn't be asking you if i could and you u are ready but that is often the first response from a young woman. when i have asked a young man if howants to move up, he goes

high, how fast, when do i start. here is just a hesitancy still about women's worth and women's to have we are going to continue to address so that ore young women feel freed to pursue their own ambitions and be successful. [applause] >> just a quicks follow-up on that. you talked about all of this media attention and you have been called every name in the but there is only one person that gets to call you mom. her? have you learned from >> oh, my goodness. she has worked very hard and has taken nd i think me, est from bill and thankfully. [laughter] really high standards but she also is passionate about her work. with her and her friends,

what i have learned and what i how much they support each other. it was still somewhat rare when a young lawyer, there were not that many young women is a veryut now there substantial group of young my essional women that daughter and her friends are part of, and they really do have other's back. i think that we need to do more of that and encourage more young women to support each other as i have seen with my daughter and her friends. madam lagarde i want to take on the advice question and what learned from your sons? with what she % aid about what young women should do and what all women should do. i would add about three things. getover t -- get possible he best

education you can as a young woman and throughout your life. while we are good and we have to be good unfortunately we have to be better. sad reality of life. but we have to be better. third thing is i honestly elieve that women are better equipped than machine to deal with all sorts of situations. that women are been men but i think that they are better equipped to deal with of situations and better able to adjust, which is intelligence. [applause] >> as a consequence of that, if correct, we are a thre threat. men.e are a threat to i'm serious. affirm progress, when we ourselves, we should not threaten them. ok.y are

but they should not be terrified of what we can achieve. can achieve lots and lots of fabulous things and more than they can. applause] >> and that is something that i my son.from >> that is a perfect segue to my next question. you both have risen to these .mazing heights madame secretary, is there any ther job you would be interested in? [laughter] of omptroller of the state illinois or something like that. you know what i mean.

now.t right >> not right now. >> not right now. phame ask it a different way. when you think about the country, when you think about america right now -- and i worry and about our country -- you think about what we need to the future, what this list orities on for you? >> i think actually that is the it.t way to go at [laughter] we need e i think that that kind of discussion in our count country. years traveling the world on behalf of the united tates, went to 112 countries, nearly million miles, all the statistics, and i came away from more xperience even confident and positive about our our potential. i don't want to sound but i was very

proud to represent the united states. that, leadership is not a birth right that you keeps going.t just as christina and i say you ave to work hard and be prepared, so do nations. we've got some work ahead of us. it will require us reaching consensus.of a now, there will always be disagreements about the particulars. figure out how we are going to make our economy so that nough jobs particularly young people, the to 24-year-old americans who are neither in in work have a ladder of opportunity that they are able to start climbing. that we produce inclusive prosperity. i'm a product of the american middle class. grateful for everything that to s given as a child

prepare me to have a fascinating life obviously. but i don't want to see other children denied that opportunity. and it is an economic issue. it is a moral issue. a political issue. and i want to get back to based decision making. there's too much that has gone -- n [applause] in our politics that is partisanship, the disguise of commercial interest fast sand we ical facade and we -- are kind of marching backwards. we often reach these points in where we're ory sort of trying to decide which whether we consolidate, embrace the future. i think it is one of those times.

if we're going to be true to ourselves we have an election we ng up this year that ought to be paying attention to that because that will set the of what canor a lot or should be done. as christine was saying, the dministration certainly supported i.m.f. reform. they are in our interests and the world interests but the congress got rapped up around misconceptions, frankly a, and infighting mostly against the white house. o, i think that we need a very op open, evident based, mature conversation. now, we may -- it may lead to not enthusiastic about and wouldn't be my economist. ut compromise is an spbgs part of run -- essential part of democracy.reat [applause] >> we can not afford to have eople who deny the right and

need for compromise. i want to say that start not editorial pages where you write about this and try to make the points that i important, but we need kitchens and offices and on the field watching your kid play soccer. we need people to start talking nd to not be afraid to talk to somebody that disagrees with you. this is one of my biggest problems that i see. because if we don't begin to talk across all the lines that divide us we will get further further separate and we can't afford to do that. applause] i wantick follow-up then to conclude with plaid dam lagarde. madam lagarde. when you look at your time as ecretary of state what do you

see has your biggest ccomplishment and would you like another crack at it one day. > i see my role as secretary and leadership in general in a race.acy as a relay you run the best race you can run, you land off the baton, of what has not been finished may go on to be finished. when president obama asked me to secretary of state and i agreed, we had the worst crisis since the great depression, we had two wars. threats from ing all kinds of corners around the that we had to deal with. so, it was a perilous time, frankly. he said to me is, look, i the to be dealing with economic crisis. i want you to go out and represent us around the world. was a good division of lebr

needed to make it clear to the rest of the world we needed to get our house we were going to stimulate and grow and get back to positive growth and work with partners. and i am we did that. i'm very proud of the -- blization and the stabilization and solid leadership the administration now leads at i think us to be able to deal with problems like ukraine. so worried re not about a massive collapse in eastern and china trying to do with theirt to bond holding and all the problems we were obsessed with. really restored american leadership in the best sense that once again people rely on us and look at us as setting the values, setting the standards. just don't want to lose florithat dysfunctional a political situation in washington. but i'm finishing my book so you read about it. >> i think that you also laid the iran ate for

negotiations. sanctions.se >> a write a whole chapter about this because there is the kind slow boring things that are alked about with politics and diplomacy. it is painstaking microscopic and putting together the international coalitions to mpose tough sanctions on iran is what eventually changed the iranian inside the government and brought them to the negotiating table. where it goes from here we have see.ait to but it took enormous amounts of of rt on the part of a lot us to put that into motion. so it is part of the work we did. [applause] >> thank you. secretary clinton, thank you. madam lagarde i want to conclude with you because i was reading the conomist and if european union were a company its board would have been sacked were a football team

it before been relevance tkpweutded to the second -- second tier.the it needs new leadership. christine lagarde can be the change. of the european commission which would be the esting if you were president of europe. applause] >> i had to ask. but seriously, at least when you leave your post at the i.m.f., what is it you hope you will have accomplished and left behind? this has been -- you served at this job at an

time for theitical global economy. >> i hope i can leave leaned an that is confident, proud of the work that it is doing around the world, which support of its membership where women have a and have a voice, not only the board's table which no he moment has 24 men and women except me. but also throughout the entire organization. feel today.w you [laughter] threatening not you. and where we will have provided earth practical value. sticks in my mind. myanmar a few months ago and when the lady thank the i want to

i.m.f. for what you have done for our country and how you have us improve the economic situation and go one more step i the direction of democracy, thought we have done something good. applause] > i want to thank you both for what you do. i have had a chance to get to now both of you professionally and you are enormously decent human beings. and s been a real honor privilege for me to be here and i thank you all for the opportunity. applause]

thank you, tom, because the not.d may be flat but he is and to all of the young women in you want to tphknow cool women, if you want to ask definition of a cool one, left, right. it is unbelievable. the two coolest women in the world. absolutely. to both of you madame secretary, lagarde, you managed the terms ladies in waiting. more.e not waiting any thank you so much. we have loved having you with us. deeply honored. to say good want night and see you tomorrow morning bright and early.

coming to is moderate. hank you so much for being herein and thank you so much adame secretary and mad lagarde. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2014] some of what he said. in one way that misdescribes the model a bit. think of the problem we are facing and change we are facing and another reason some this is not the america i used to know our ideal of what shaped by a post-war

america that couldn't come back the woret exist before and will never exist. the country that won that war in strengthened its economy while all the competitors burned even other to for decades could contain in itself the growth of all boats talism and did rise in a way to some extent. defines our expectations in a way that is going to need to change and it will be very difficult to change that. you can look for example, i had experience of books that started with an introduction that is the early gia for 1960's. almost in the same terms and they are right. that we should miss. there is a lot there it be miss politics is far too oriented around how can we bring does ack rather than what

the world look like now and make the most of america's strengths today. failingboth parties are that. that is not just a conservative party. parties are intellectually exhausted. tphraeis 193550's. >> big labor was big and there a lot of dynamism but that doesn't mean we can do it today. is the future? he 1960's were pretty good to me. you don't remember t. you were busy on the internet. say we are not looking back. >> we were technically not born then. >> that is true. we were not.y >> that is why i enjoyed them. more of the panel on the future of conservatism at 8:00 eastern here on c-span. janet yellin speaks

economic recovery. n.s.a. am fox discusses surveillance programs and effect leaks.edward snowden then president obama is in pennsylvania to announce a new training initiative. >> supreme court justices are the report thursday to discuss the first phaefplt and defined.om is we will have live coverage from startingnal press club on c-span.. eastern >> crip to go is an ancient art begins of ack to the human history. we don't go become that far but e have some interesting artifacts that help people understand how long people have een making and breaking codes

and had a need. when we talk about the united stat states, it is important to note that the making and breaking of part of america even before we gained our independence. one of our most precious artifacts is referred to as the cyber device. truth in advertising it is very that we don't te have any definitive conclusive vidence that this particular device belonged to thomas jefferson but there are some about it.g facts one, this device was found in an ntique store very close to monticello. it appears to have the ability cipher french and english and we know he was ambassador to rance and probably the most compelling point in is a drawing of a device very similar to this private papers. even so, we can't say for sure

owned it.rson what we can say is that this is how people ing of crypt toll in the 19 19ed century. breaking secret code -- 6:00 and 10:00. that is on c-span 3. janet yellin spoke about the economic recovery wednesday. was her first speech of the organization since becoming fed claire. hour.an >> thank you. all of you to the 435th meeting of the economic new york. i'm roger ferguson chairman of now in its ch is

107th year as the nation's forum for partisan economic policy speeches. throughout the long history of economic club of new york we have had more than 1,000 guest peakers appear before us establishing a strong tradition of excellence which obviously we today.e i would like to begin by recognizing the 211 members of centennial society who have contributed their support to for the sound future club. thanks to all of you centennial to ers for helping the club continue to fulfill its mission well into our second century. also like to welcome our special guests. with us from ts and ra university, suny man-to-man college. our members have made their attendance possible. pleased to welcome our speaker janet yellin who became of governors oard

menmen menmen men3ment. emeritus at ssor the university of campbell at campbelifornia at served as d formerly president of the federal bank of san francisco. from brown d university and received her yale. in economics from following her speech two members will ask questions. chair yellin, we are pleased to back to the economic club of new york. yours.oor is >> thank you so much, roger. nearly five years into the xpansion that began after the

financial crisis in the great ecession the recovery has come a long way. more than eight million jobs ave been added to nonfarm payroll since 2009. almost the same number lost as a of the recession. a resurgent auto industry, manufacturing output to its y returned pre-recession peak. market still ing has far to go, it seems to have turned a corner. it is a sign of how far the come that a return to full employment is for the in t time since the crisis the medium-term outlooks of many forecasters. it is a reminder of how far we that this long awaited outcome is projected to away.e than two years

today i will discuss how my on the federal open market committee and i view the and how the economy this view is likely to shape our to rts to promote a return maximum employment in the stability. price will start with the fomc's outlook which foresees a gradual return over the next two to economic s of conditions consistent with its mandate. while monetary policy discussions naturally begin with the baseline outlook, the path and e economy is un certacertan an effective policy must respond twistsificant unexpected and turns the economy may take. primary focus today will be monetary fomc's

policy framework has evolved to the recovery through those twists and turns this framework is likely to imply as the recovery progresses. for omc's current outlook continued moderate growth is fall.e changed from last in recent months some indicators requiringnotably weak judge whether the data are signaling a material change. unusually harsh weather in much of the nation has complicated this judgment but my generally eagues believe the recent softness was weather related.

the continued improvement in labor market conditions has been important in this judgment. of.7% has oyment rate fallen .3 percentage point since year.last broader measurements and those working part-time for economic fallen a bit more than the headline unemployment ra rate. force participation, which had been falling, has ticked up year. inflation, as measured by the index for personal consumption expenditures, has slowed from an annual this rate is well below the committee's 2% longer run objective. many advanced economies are observing a similar softness in

inflation. to some extent, the low rate of inflation seems due to influences that are likely to be amporary, including deceleration in consumer energy declines inoutright core import prices in recent quarters. inflation expectations have remained remarkably steady, however. we anticipate that it is the transitory factors subside and labor market gains inflation will 2%.ually move back toward in some, the central tendency of pro swreksesant for the unemployment rate -- projections for the unemployment rate at the end of 2016 is 5.2 to 5.6%, and