The finance ministers and central bank governors of the United States, Japan, Canada, Britain, Germany, France and Italy - the G7 democracies - also are discussing next steps on sanctions to pressure Russia to end the war launched on Feb. 24.
Friday's scheduled sessions also include discussions about the potential for debt crises amid pressures from rising food and energy prices, progress on global corporate tax reform, efforts to finance a transition to renewable energy and a the current state of the COVID-19 pandemic.
Yellen said that a $40 billion U.S. aid bill for Ukraine, passed overwhelmingly by the U.S. Senate on Thursday, included about $7.5 billion in new economic assistance. More and more officials have brought up the term"stagflation" - the dreaded 1970s combination of persistent price increases coupled with economic stagnation.
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