Powell to Testify Before Congress on Capitol Hill
Fed Chairman Jerome Powell will testify twice before Congress this week, explaining why interest rates will remain unchanged until September and why Trump’s calls for rate cuts have been ignored. The first session will take place on Tuesday, June 25, at 10:00 p.m. Beijing time, before the House Financial Services Committee, and the second will be held the following day at the same time before the Senate Banking Committee. Powell’s remarks will highlight the balance between interest rate policy and political pressure.
Trump: “Israel Will Not Strike Iran,” Netanyahu Scaled Back Attack
Trump said on Truth Social, “Israel will not strike Iran,” and stated that all planes had returned. However, according to Axios, Trump called Netanyahu and asked him to cancel the attack entirely. Netanyahu, however, argued that the agreement had been violated and that a response was necessary. As a result, the scope of the attack was narrowed, and many targets were canceled.
Trump is Meeting with Netanyahu
According to Tasnim News Agency, Iran’s Revolutionary Guards fired 14 missiles at Israeli military centers minutes before the ceasefire went into effect. CGTN Europe reported that Trump is currently meeting with Netanyahu. Israeli officials said they were considering only a symbolic response.
Trump: Iran and Israel Violated the Ceasefire, Iran’s Nuclear Capacity Has Been Eliminated
Trump said in a statement before the NATO summit that Iran and Israel had violated the ceasefire. Trump claimed that Iran’s nuclear capacity had been completely eliminated and expressed his dissatisfaction with Israel’s immediate compliance with the ceasefire. These statements raised the possibility of renewed tensions in the region.
WSJ: Trump Administration Considering Executive Order Against Banks’ Divestment Practices
According to a report by the Wall Street Journal, the Trump administration is working on a new executive order in response to the “divestment” practices of major banks such as JPMorgan, Citigroup, and Wells Fargo. This initiative is in response to recent complaints from Republican state leaders.
US Housing Agency Evaluates Use of Crypto Assets for Mortgage Loans
The US Federal Housing Finance Agency (FHFA) has begun examining whether cryptocurrencies such as Bitcoin can be used in mortgage eligibility assessments. This step could signal a more active role for digital assets in the financial system.
Michael Saylor Publishes Bitcoin Credit Risk Model
Michael Saylor, president of MicroStrategy, has unveiled the credit risk model they developed for Bitcoin. The model performs risk and credit spread analyses by considering factors such as loan terms, collateral ratio, BTC price, volatility, and annual return expectations. The tool is now available online on the company’s official website.
Turkey Tightens Cryptocurrency Regulations
The Turkish Ministry of Finance is introducing new crypto regulations to prevent money laundering and financial crimes. Under the new rules, transfer disclosures will become mandatory, and withdrawal transactions will be delayed by 48 hours in most cases. A 72-hour waiting period will apply to the first withdrawals. A daily transfer limit of 3,000 USD and a monthly limit of 50,000 USD will be imposed. Transactions aimed at liquidity provision and arbitrage will be exempt from these restrictions.
