Season 1

Trade policy is back at the center of the economic conversation. In this episode of Current Account, Clay examines a series of major developments that could reshape the U.S. trade landscape in the months ahead. He breaks down the administration’s efforts to rebuild broad tariff authority following February's Supreme Court ruling, the growing role of Section 301, Section 122, and Section 232 trade authorities, and what upcoming deadlines could mean for businesses and global markets.

Clay also explores the latest uncertainty surrounding the United States-Mexico-Canada Agreement (USMCA) after the United States declined to renew the pact for another 16-year term. The discussion offers a practical look at where trade negotiations stand and why tariffs are likely to remain a defining feature of U.S. economic policy. …

As frontier AI models become more powerful, concerns about cybersecurity risks are moving to the forefront of policy and business discussions. In this episode of Current Account, Clay is joined by Martin Boer, General Manager and Chief Representative for Europe at the IIF, to examine how advances in AI could reshape the cyber threat landscape.

They discuss why security experts are paying close attention to the latest generation of AI systems, how financial institutions are preparing for emerging risks, and whether regulators and standard setters can keep pace with the speed of innovation. The conversation also explores the growing debate over AI governance and what future legislation could mean for innovation, competition, and financial stability.

This IIF Podcast was hosted by Clay Lowery, Executive Vice President, Research and…

The conflict involving Iran has entered another period of uncertainty, with diplomatic efforts faltering and regional tensions rising once again. In this episode of Current Account, Clay is joined by Hal Brands, professor at the Johns Hopkins School of Advanced International Studies and columnist for Bloomberg Opinion, to assess the latest developments and what they could mean for the Middle East and beyond.

They discuss the collapse of recent diplomatic agreements, the strategic objectives of the key parties involved, and how Gulf states are balancing security concerns with efforts to prevent further escalation. The conversation also explores the implications for NATO, global energy markets, and the range of scenarios policymakers and investors should be watching in the weeks ahead. …

As geopolitical tensions reshape security priorities across the Atlantic, defense has become an increasingly important economic and financial issue. In this episode of Current Account, Clay Lowery is joined by Dr. Torrey Taussig, Director of and a Senior Fellow at the Transatlantic Security Initiative in the Atlantic Council’s Scowcroft Center for Strategy and Security, to unpack the outcomes of the recent NATO Summit in Ankara and what they reveal about the future of the alliance.

They discuss growing pressure on European allies to increase defense spending, questions surrounding U.S. leadership and commitment to NATO, and how governments are translating new funding pledges into real military capabilities. The conversation also explores the role of private capital in supporting defense investment, the lessons from conflicts in…

Can regulators promote growth and competitiveness while preserving financial stability? In this episode of Current Account, Clay is joined by IIF's Kyle Grieser, Director, Regulatory Affairs, and Miguel Lobo, Policy Advisor, to examine two major developments shaping the future of banking regulation: the ongoing implementation of Basel III and the European Commission’s new banking competitiveness agenda.

They discuss how post-crisis reforms have strengthened the banking sector, why policymakers are increasingly focused on regulatory simplification and modernization, and what the latest proposals could mean for banks in the United States, Europe, and the United Kingdom. The conversation also explores whether global regulators are finally approaching the end of the Basel III process and what comes next for cross-border regulatory alignment and…

As markets return from the summer with a series of surprises, investors are grappling with a changing economic landscape. In this episode of Current Account, Clay is joined by Marcello Estevão, Chief Economist and Managing Director at the IIF, to unpack three of the biggest stories shaping global markets: rising long-term bond yields, the joint U.S.-Japan intervention to support the yen, and the key messages emerging from this year’s Jackson Hole conference.

They explore what these developments reveal about the evolving cost of capital, why higher borrowing costs matter beyond financial markets, and how central banks, governments, and investors are adapting to a world of stronger investment demand and growing competition for resources. …

The relationship between the United States and Canada has long been defined by deep economic ties, shared security interests, and highly integrated supply chains. In this episode of Current Account, Clay is joined by Michael von Herff, Founder and Managing Partner of PAA Advisory, to examine the recent escalation in trade tensions between the two countries.

They discuss how a cycle of tariffs and retaliatory measures has transformed a trade dispute into a broader debate about economic leverage, sovereignty, and national strategy. The conversation explores Canada's response to growing pressure from its largest trading partner, the potential implications for defense and industrial policy, and whether this moment represents a temporary disruption or a more lasting shift in the U.S.-Canada relationship.

This IIF Podcast was hosted by Clay Lowery, Executive Vice President, Research and…

Defense finance is rapidly moving from a niche policy topic to a central challenge for governments, investors, and financial institutions. In this episode of Current Account, Clay is joined by Wendy Gilmour, Vice Chair of the Conference of Defence Associations Institute and former NATO Assistant Secretary General for Defence Investment, and Jakub Karnowski, CEO of KredoBank, to explore how countries are financing a new era of defense and security investment.

They discuss the impact of Russia’s invasion of Ukraine, growing NATO spending commitments, and the role private capital can play in expanding defense capabilities, industrial capacity, and critical infrastructure. The conversation also examines what makes defense investments bankable and what a successful partnership between governments, industry, and…

As the world’s two largest economies navigate an increasingly complex relationship, the second 2026 summit between U.S. President Donald Trump and Chinese President Xi Jinping last week offered a fresh window into the future of competition and cooperation between Washington and Beijing.

In this episode of Current Account, Clay is joined by Paul Haenle, Managing Director and Head of APAC Policy and Strategic Competitiveness at the JPMorganChase Center for Geopolitics; Samm Sacks, Senior Fellow at New America and Non-Resident Senior Fellow at the Johns Hopkins School of Advanced International Studies (SAIS); and Logan Wright, Partner and Head of China Markets Research at Rhodium Group and author of the new book Broken China: How the Economic Miracle Shattered and What it Means for the World, to assess what emerged…

With the U.S. midterm elections just weeks away, control of Congress hangs in the balance amid growing voter frustration over the economy, affordability, and the direction of the country. In this episode of Current Account, Clay Lowery is joined by Amy Walter, Publisher and Editor-in-Chief of The Cook Report with Amy Walter, to assess the political landscape ahead of Election Day.

They discuss whether Democrats are positioned to retake the House and Senate, the issues that are resonating most with voters, and why concerns about government dysfunction and corruption have become central campaign themes. The conversation also explores what divided government could mean for President Trump's policy agenda and what the election results may reveal about the trajectory of American politics heading into 2028. …