Talking `Regulatory Renovation’ and Treasury Markets With a D.C. Policy Veteran
June 6, 2025
The second Trump administration has already been a whirlwind for the financial industry. While a 180-degree turn on regulatory policy has been welcome news, economic turmoil sparked by the president’s tariffs and spending plans has put Wall Street executives and traders alike on edge.
To make some sense out of all the uncertainty, we sat down this week with Michael Pedroni, whose career has ranged from finance to government oversight. An economist, he has done stints at the New York Fed, IMF and the Treasury Department, where he monitored global markets during the 2008 crash and served as financial attaché to the EU. Later, he did policy work at the Managed Funds Association and Investment Company Institute. Now he’s running his own consulting firm, explaining Washington (and Brussels) to clients.
Read on to get Pedroni’s take on the SEC’s agenda, including its push to give retail investors more exposure to private assets. He also explains why the conventional wisdom might be wrong when it comes to deregulation and offers some insight into how the recent Treasury market volatility should inform lawmakers as they negotiate Donald Trump’s “big, beautiful” bill.