Weekly Notes, 025.
June 25, 2025
👋 Readers, this is 25 straight weeks of Weekly Notes!
I am continuing to refine the structure of Weekly Notes, but the general theme remains to share the news and issues I am tracking every week. The subject areas encompass economic and national security, finance and technology, as well as risk, regulation, and financial crime.
Interesting issues and news across the US economic and national security landscape.
Analysis: All eyes have been on Federal Reserve Chair Jerome Powell as he testifies before both the House and Senate following his decision not to cut interest rates and to rely on forecasts that tariff impacts will start appearing in economic data over the next few months. The Fed's wait-and-see approach seems to be the only obstacle preventing the Trump Administration’s economic policies from moving at full speed. The economy remains strong, the labor market is solid, and inflation has decreased significantly. On the national security front, a series of Treasury actions (sanctions) preceded Operation Midnight Hammer, during which Trump took decisive action against Iran’s core nuclear infrastructure with B-2s dropping MOPs along with cruise missiles launched from submarines in the region. While the action represented an escalation to the Iran-Israeli war, it almost immediately brought the two states to a cease-fire agreement.
I’ve included six (6) links below sourced directly from the Federal Reserve, White House, and Treasury Department that cover this past week’s action.
Testimony by Fed Chair Powell Semiannual Monetary Policy Report to Congress
Treasury Sanctions Fugitive Tren de Aragua Leader
Treasury Targets Entities Procuring Sensitive Machinery for Iran’s Defense Industry
Treasury Sanctions Houthi Illicit Oil Trading and Shipping
Interesting issues and news across finance, technology, risk, regulation, and financial crime.
Analysis: The Trump Administration, congressional committees, and federal banking agencies remain intent on a balanced, growth-focused deregulatory agenda, while also adding regulatory clarity to emerging markets, such as digital assets. While some fear a loosening of regulations equates to weak supervision and a lack of enforcement, there have been no signals that conduct goes unchecked. Seeing common sense applied and real efforts to modernize the anti-money laundering regime are long overdue for the financial crime risk and compliance space.
I’ve included eight (8) links below sourced directly from the White House, congressional committees, regulators, and media that cover this past week’s action.
Joint Statement on the U.S.-UK Financial Regulatory Working Group
Deputy Secretary Faulkender Lays Out Guiding Principles for Bank Secrecy Act Modernization
Scott, Lummis, Tillis, Hagerty Release Principles for Market Structure Legislation
The President Signed into Law S.J. Res. 13 and S.J. Res 31
Guidance on Referrals for Potential Criminal Enforcement: Notice
Interesting reports.
FinCEN Year in Review for Fiscal Year 2024
Federal Reserve Monetary Policy Report to Congress
Interesting charts of the week.
