mr. lew: thanks so much. thanks for having me this morning. i feel like i'm 90 years old after hearing that biography. i wanted to touch on two things just at the top and go to questions. and i will start with domestic and talk about the g-7 a bit. domestically, what i want to talk about is puerto rico. we have been working very hard to try and address the growing crisis in puerto rico. it is not a crisis of the future. it is a crisis of the present. i was there on monday, and i saw firsthand with some of you what is going on right now for about 3.5 million americans who live in puerto rico. i mean, there are children's units where 2-week-old babies are waiting for dialysis because dialysis has to be ordered cash on delivery with wire transfers on a daily basis to keep supplies in the hospital. it is not a future crisis. it is a current crisis. we saw schools that start out in terrible conditions where deferred maintenance is raising questions about basic safety. there is a solution. the solu

mr. lew: thanks so much. thanks for having me this morning. i feel like i'm 90 years old after hearing that biography. i wanted to touch on two things just at the top, and then go to questions. i will start with domestic, then talk about the g-7 a bit. domestically, what i want to talk about is puerto rico. we have been working very hard to try and address the growing crisis in puerto rico. it is not a crisis of the future. it is a crisis of the present. i was there on monday, and i saw firsthand with some of you what is going on right now for about 3.5 million americans who live in puerto rico. i mean, there are children's units where 2-week-old babies are waiting for dialysis because dialysis has to be ordered cash on delivery with wire transfers on a daily basis to keep supplies in the hospital. it is not a future crisis. it is a current crisis. we saw schools that start out in terrible conditions where deferred maintenance is raising questions about basic safety. there is a solution. a so

there were no heated discussions between mr. lew and me.t is natural to have gaps in perspective and different interests. the only difference between the u.s. and japan is that the u.s. dollar is the reserve currency. there was a lot of talk about what constitutes disorderly moves in the yen. jack lew did speak about this briefly during a press briefing, saying that it is a high bar when it comes to disorderly conditions. one example he brought forward was what japan did in 2011 when they got the blessing from g-7 nations to intervene in the currency. it seems that we are far away from that at this point. angie: what are we expecting at the leader summit this week? yvonne: we have been seeing competing views in the first meeting. hopefully, we will see more consensus. some protesters over the weekend in tokyo gathered at a park, saying there was no legitimacy a mom g7 nations when it came to making decisions about the global economy. behind closed doors, the topics we might be seeing on the agenda are the global economy, climate change, for

. >> [speaking japanese] >> there are no heated discussions between mr. lew and me.e have different views, and it is natural to have gaps in perspective as well as different interests. the only difference between the u.s. and japan is that the u.s. dollar as a reserve currency. francine: japan's exports slid for a seventh month straight as the yen continued to take its toll. the prime minister hinted that the frustration within the government about this year's 9% toge as g-7 nations pushed hold off intervention in the currency market. >> [speaking japanese] >> i made it clear that stability and exchange rates are important. excess volatility and disorderly movements and currency will have adverse effects on economic and fiscal stability. francine: let's get more thoughts from the chief investment officer -- thanks for sticking around. yen is a little bit of a conundrum. yen does indirectly translate to abenomics, but if you have the strength putting pressure on earnings, then it is very difficult to do wage growth and inflation. >> that's absolutely right. remember,

. >> the gentleman from california, mr. lew. >> thank you, mr. chair.ast october, the postal inspection service issued a release about mail theft. it said these crimes are increasing, that mail theft in collections boxes and customers mailboxes are a big problem. it says most cases in mail theft involved master keys. i have two questions. when you talk about rightsizing, are you reducing u.s. postal inspection service numbers at all, and does that have an effect on mail theft? and as you move into more and more cluster boxes, doesn't that also increase mail theft, because you only need one master key and then you have access to a lot of mailbox? ms. brennan: to your first question, we are not reducing.we have two classes currently in training to increase the postal inspection staffing. in terms of the theft, as you are aware, we have a postal inspection task force working with local authorities and the community taking proactive measures to address that. i would be more than happy to brief you in detail given the sensitivity of the corrected measures. c

lew wasserman or warren beaty. >> they said, can you hand the papers and i said i have to hand them to mr. beaty directly. they said, that doesn't make sense. i said, they are not valid unless i hand them directly to mr. beaty and that worked. so that turned into -- that little moment with warren beaty turned into 40 minutes sipping espressos in his dining room. >> you've had great partnerships along the way, including with ron howard. >> for sure. >> you've done so many amazing movies with. you won best picture with him for "a beautiful mind." does he approach curiosity the way you do? >> no. he's so different. so let's say, "a beautiful mind," i would have the idea to do that and i would know how the story could work, you know, in terms of creating a first person subjective experience and i can understand that stuff and alternate realities and present all of that to ron howard and he will have the patience to spend 8 to 10 to 12 hours thinking about it and digging really deep. >> like a ying and yang? >> very much so. >> you have one of the most interesting and cool hairstyles out there. why? >> in holl

lew. you discussed greece. did you discuss anything else, currency wars and possible fx components? mr.oem: no, we did not. the secretary was to be informed of the progress we are making on greece. i could give him a positive message. a lot of work has been done since we reach the political agreement on the third program. the greeks have worked very hard pushing through structural reforms on all different fronts. not we are entering into a debate about their debt sustainability. francine: jack lew has been urging europe to provide debt relief to greece. are you concerned that if we do not get the relief and if we do not have a solution for greece in the next couple of weeks or months, we may look at another some of on uncertainty on greece, on brexit and the eu like we did last year? notdijsselbloem: no, i'm worried about that. we are at a completely different situation than we were a year ago. ek government is very constructively working with the european partners to improve the state of the economy, to improve public services and administration in greece. they are fully committed to t

mr. royce: yes. i see the iranian papers. i see what they are pushing for but go ahead. r. szubin: thank you for the clarification. secretary lew has made himself clear on the record in the public and of course we look forward to responding to your letter in writing as well. he said what i said here today and i know he was looking forward to me being here today. iran will not have access to our financial system. mr. royce: perfectly fair, but when i asked him the question, the focus was on making sure iran gets relief. and so let me go to the next question and this is to assistant secretary countryman. the last question i'll ask here. in your testimony, you put stock in the new u.n. security council resolution 2231 and its provisions related to iran's ballistic missile program. now, it's well-documented that before the deal iran was legally bound by u.n. security council resolutions not to test ballistic missiles. now, here's the problem in the negotiation. the first problem, one the members of the committee are already aware of and that is the administration agreed to a change. instead of saying shall not, the change was iran