Yellen Pledges to Maintain Bernanke’s Policies

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Feb. 11 (Bloomberg) –- On today’s “The Roundup,” Bloomberg’s Trish Regan, Phil Mattingly, Peter Cook and Josh Green wrap up the day’s top market stories on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

The new fed chief, janet yellen.

She delivered her first public remarks as chairman of the federal reserve.

Measured steps, and in signal that the bar is high for a change.

She said only notable change was from policymakers to slow the pace of tapering.

I spoke to bill gross earlier to get his odds.

This is the bond came from pimco.

This was a measure consensual type of statement.

It transitions from the bernanke fed to the yellen said.

To that extent, she was except that successful.

It is all about content people's top that is what the market is responding to today.

You cover this town, you know all the politics, you look at how politicized the federal reserve has in.

Will it change at all janet yellen?

She is a woman, would that change how lawmakers approach her?

They seemed very civil today.

She had almost done on like -- an aunt-like quality to her to put everybody in a good.

-- david.

I think republicans are not happy with the current state of monetary policy.

You did not see a lot of that with ben bernanke.

Maybe on the margins, it makes her more difficult to go after in a way that seems misogynistic or something like that.

That was not an issue today for the -- today.

Maybe they are welcoming her in.

It went on forever.

It was a long day.

Eventually they congratulated her calls -- house republicans are starting a year-long project to commemorate the anniversary of the.

That is a good one for all of us.

She has to stay until four clock for every testimony.

She may come to regret that.

I guess you need a very important when it -- appointment scheduled at a critical time to get out there conveniently.

We have been watching president hollande, who is here for the state dinner.

He and president obama had a joint press conference.

Why are we doing the first state dinner -- reaching out to france?

It is an incredible place.

When you look at the relationship, the french president's relationship has eclipsed the u.k.. it is like my daughters, i cannot pick a favorite.

But when you look at foreign policy, president hollande has become one of president obama's top allies.

Listening to what president obama said today about the ongoing negotiations -- as we are united on our ultimate goal.

That is to prevent iran from obtaining nuclear weapons.

One really interesting thing was that there was a headline last month.

Over 100 french companies were in tehran to look at business opportunities.

The president said that these companies need to be aware that it is not free for them to business there.

If they mess around and go over the long -- line, we will come down on them like a ton of bricks.

Everyone is very happy and on good terms, but keep an eye on these french companies.

The u.s. does not want any part of the.

The other purpose of the state dinner is why thank you to president hollande for supporting obama regarding syria.

Then they turned around and change their mind very publicly.

A lot was left out on an island.

This is one way of bringing him into the old and apologizing for -- this is the seventh state dinner at the obama administration has held.

We have had a busy day here in d.c. because it is not janet yellen, it is not president hollande.

We also have voting on the debt limit tonight.

Five not too long ago, we were eating freedom fries because our relationship with ranch was a bad.

We have a big development on the debt ceiling stop the full house will vote on a clean debt ceiling bill.

Very few republicans ordinate.

There will be some drama.

There's a core group of republicans.

It means that the debt ceiling -- we will take this opportunity.

This one sort of remaining south dakota crisis -- remaining crisis is on the table.

This is a big moment, a big push for lawmakers there's a huge snowstorm coming to washington and he do not want to get trapped here.

Nothing like a little incentive to get lawmakers to get something done.

It is ironic that it is not rusher from the financial market.

It is fear of winter storms impacting air travel.

Do you get the sense that we have turned a little bit of a corner in washington?

Is there a little bit more clarity?

I think the debt limit -- this began with another republican extortion attempt.

It all collapsed and tonight we have a clean debt ceiling vote.

It will represent the capitulation.

It is hard to believe that it will have to go through this.

It is interesting, unofficial give me a hard time.

They said that when they win reelection, the fever will break.

I give him a hard time about that, because it was not true.

He grabbed me today and said that the fever may have broken with the debt limit.

On the debt limit, we may have gotten past that.

We may be getting back to a place where this is no longer the legislate by crisis.

You must pass bills where dr.

Mattingly's rub noses is correct.

-- prognosis is correct.

You are going to see moderate republicans have the strength and the capacity to pass these things.

We have to remember that we need 17 republicans minimum to join democrats.

I would not want to be one of those 17 republicans.

Same in the senate.

Some republicans are going to join democrats voting in favor of this.

As many as 5-6 could vote that way.

You have to be very secure about your political position.

There will be a lot of republicans voting no.

Jpmorgan is in the news today.

Everyone remembers that $13 billion settlement with the justice department deal.

Everybody had a piece of that settlement.

There's now a private you coming.

-- suit coming.

They're fighting for tighter regulation and challenging because seasonality of that deal.

Here is why.

They believe that eric holder and his top aide and jamie dimon , the ceo of, negotiated this time close doors.

There was never a complaint or any charges.

They believe that there was not enough trend in the.

From the market perspective, with connections in washington, they can take up the phone and call the attorney general.

They can settle out of work.

That is a problem that should not be allowed.

There is no precedent for this.

They are not saving any other cases.

The do not feel as if there is a lot we can do with this.

They are trying to use that a tell.

This is something that needs to be more public.

There needs to be more disclosure.

You can lump this in with some of the pressure the u.s. ian by liberals in congress.

They want to bring more pressure to bear on republicans.

$13 billion was not enough as to mark -- not enough?

What they're pushing for is to have it become public.

The tea party does not like deals to be struck in back rooms.

That is what is behind the.

A very busy day in washington.

I'm glad i was here in thankful

This text has been automatically generated. It may not be 100% accurate.

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