the issue of scott alvarez the fed's chief counsel apparently criticizing a rule of dodd/frank and warren pressing her, pressing the chair as to whether or not that was the fed's instruction or in line with the fed board of governors thinking an important one and issue about a leak that came from the fed 2 1/2 years ago and whether or not warren could get a briefing on that. one of the more dramatic exchanges but not i think from a policy standpoint or market standpoint not one of the most cuss quenshal. >> to that point, art cashin here at post nine. what is the policy headline? a matter of patience comes out in march and gets discussed in april and a hike in june? >> it's that yellen goes for gradualism and flexibility and the markets like that. she's got to be happy with the first day of her testimony. the dollar which had initially spiked is back to almost unchanged. yields which had initially spiked a bit have moved back down. so she has followed the hippocratic guideline, first do no harm. she did no harm today. >> certainly so. the ftse we should mention all-time closing high, surp

warren said were criticisms of a dodd frank financial reform bill by the fed's chief council, scott alvarez. >> do his criticisms reflect your criticisms or the the criticisms of the federal board? >> i think i personally and the board considers dodd frank to be a very important piece of legislation. this has provided a road map for us to put in place regulations. >> i appreciate that madam chairman but i need a yes or no here. do his criticisms reflect your criticisms? >> certainly not seeking in any way to alter dodd frank at this time. >> reporter: from the gop, yellin strongly questioned by senators on whether dodd frank is too tough on banks. reducing lending. it's a prelude to possible changes that could come in the new republican-controlled senate this year. yellin likely faces an even tougher grile house with more support from conducting monetary policy according to rules dictated by congress and for bills to audit making a monetary policy. both ideas yellin strongly opposed today. for "nightly business report," i'm steve liesman. >> chief global economist at deutsche assets and wea

according to public reports scott alvarez, the general counsel of the fed, was put in charge of investigatingee. nearly two and a half years later, the results of this investigation have not been made public and no action has been taken. on february 5th congressman cummings and i sent a letter to mr. alvarez requesting a briefing from him in advance of our appearance here today. but so far, we have not received one. can you assure us that the congressman and i will get a briefing soon? >> so if i might say by way of background, and -- >> i just need a yes or no. i just want to be able to get a briefing on what's happened that it's been two and a half years and there's been no report. >> we are trying to work with your staff on a process to be responsive. >> i'll take that as a yes. >> yes. >> okay. >> thank you. as you know, this past december house republicans successfully blew a hole in dodd frank protections. by tacking the repeal of the swaps push out rule to a must pass government spending bill. that repeal which was written by citigroup lobbyists, will allow the biggest banks in the cou

according to public reports, scott alvarez, the general counsel of the fed, was puts in charge of investigating a leak from the september meeting. of the federal open market committee. nearly 2 1/2 years later the results of this investigation have not been made public. and no action has been taken. on february 5, congressman cummings and i sent a letter to mr. alvarez requesting a briefing from him in advance of your appearance here today. but so far we have not received one. can you assure us that the congressman and i will get a briefing soon? >> i might say by way of background -- >> i just need a yes or no. i just want to be able to get a briefing on what has happened. it has been two point five years and there has been no public report on what has happened. >> we are trying to work with their staff on the process. >> i'll take that as he is. >> yes. >> ok, thank you. as you know, this past december, house republicans successfully blew a hole in godfrey protections by attacking the repeal of the swat push out role to a must pass government spending bill. that will appeal, which was written

according to public reports, scott alvarez, the general counsel of the fed, was puts in charge of investigating a leak from the september meeting. nearly 2 1/2 years later the results of this investigation have not been made public. and no action has been taken. on february 5, congressman cummings and i sent a letter to mr. alvarez requesting a briefing from him in advance of your appearance here today. but so far we have not received one. can you assure us that the congressman and i will get a briefing soon? >> i might say by way of background -- >> i just need a yes or no. i want to be -- [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] [captions copyright national cable satellite corp. 2015] >> we'll leave this now as the house gavels in. h.r. 212 by the yeas and nays, h.r. 734 by the yeas and nays. the first electronic vote will be conducted as a 15-minute vote. remaining votes will be conducted as five-minute votes. the unfinished business is the vote on the the gentleman from ohio and the yeas and nays