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Current Account with Clay Lowery

Institute of International Finance
China
Tariffs
Donald Trump
United States
Global Debt
Inflation
Mexico
Artificial Intelligence
Digital Assets
Trump Administration
Emerging Markets
Fiscal Policy
Economic Growth
Interest Rates
Federal Reserve
Geopolitics
IMF
South Korea
Mar-a-Lago Accord
Iran

Each week, Clay Lowery at the Institute of International Finance highlights current issues in international finance and economics through the lens of U.S. policy and politics. Clay and his guests explain what to watch in the coming week, and deep-dive into some of the most important topics facing the financial industry, and our world.

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Latest Episodes

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 Se... more

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 ... more

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... more

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 eff... more

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Recent Guests

Hal Brands
Distinguished professor of global affairs at Johns Hopkins SAIS; scholar at American Enterprise Institute; Bloomberg Opinion columnist
Johns Hopkins University SAIS; American Enterprise Institute; Bloomberg Opinion
Episode: Episode 152 – Jaw-Jaw or War-War? — An Update on Iran
Alexis Crow
Partner and Chief Economist at PwC
PwC
Episode: Episode 149 – Beyond the Dot Plot — The Future of the Fed
Martín Castellano
Head of Latin America research at IIF; former Central Bank economist in Argentina
Institute of International Finance
Episode: Episode 148 – Latin America’s Political Pendulum — Left, Right, Repeat
Paola Figueroa
Colombia-focused economist at IIF; former Central Bank official
Institute of International Finance
Episode: Episode 148 – Latin America’s Political Pendulum — Left, Right, Repeat
Christiana Riley
CEO and President of Santander, North America
Santander
Episode: Episode 147 – The Future Is Now — Discussing Leadership in Banking
Marcello Estevão
Chief Economist and Managing Director at IIF
Institute of International Finance
Episode: Episode 146 – The Tail End of a Chimera — A Midyear Macroeconomic Update
Stephen Myrow
Founder and Managing Partner, Beacon Policy Advisors
Beacon Policy Advisors
Episode: Episode 144 – And They're Off! - Previewing the 2026 U.S. Midterm Elections
Mona Yacoubian
Director and Senior Advisor to the Middle East Program at CSIS
Center for Strategic and International Studies
Episode: Episode 143 – Enduring the Pain - Strategy, Leverage, and the Cost of Waiting in the U.S.-Iran Conflict
Isabelle Mateos y Lago
Chief Economist, BNP Paribas
BNP Paribas
Episode: Episode 142 – A Sit and Kick Approach? - Takeaways From the 2026 Spring Meetings

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Clay Lowery
Host of Current Account

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Episode 152 – Jaw-Jaw or War-War? — An Update on Iran
Q: What are the current objectives for the United States and for Iran as the conflict continues?
The US aims to reopen the Strait of Hormuz and deter Iran while seeking a nuclear deal that limits Iran's program; Iran seeks to preserve sovereignty over Hormuz, deter renewed attacks, and maintain some nuclear capability, while pushing back against US pressure.
Episode 151 – The Fast and the Furious 5.1 — Fueling Up for Frontier AI
Q: How are policymakers thinking about frontier AI and cybersecurity right now?
Policymakers are prioritizing speed and resilience within existing AI and cyber frameworks, with debates over export controls and licensing, while emphasizing rapid remediation and supervisory engagement rather than a new regulatory architecture.
Episode 149 – Beyond the Dot Plot — The Future of the Fed
Q: What are the global implications of a Fed that remains data-dependent in the face of geopolitical and technological shifts like Iran tensions and AI-driven growth?
Global implications include shifts in currency strength, capital flows, and asset prices; the dollar may remain strong, but investors are re-evaluating safe haven status, potentially increasing demand for diversification and hedges like gold while monitoring spillovers to emerging markets.
Episode 149 – Beyond the Dot Plot — The Future of the Fed
Q: How do you see the Fed managing its balance sheet and the potential for a longer pause versus a quicker path to rate cuts?
The balance sheet reduction is a clear priority for Warsh and could act as a backdoor tightening tool, but it must be balanced against the need to support growth and maintain financial stability; a longer pause seems likely given inflation dynamics and external shocks, but markets will watch for any signaling that could alter expectations.
Episode 146 – The Tail End of a Chimera — A Midyear Macroeconomic Update
Q: How are different regions expected to fare, especially Asia and emerging markets, given the continued energy and supply shock?
Asia is hit hardest on real activity due to energy and supply chain disruptions, but several economies benefit from AI and semiconductor cycles; EMs show divergent paths with some relying on energy exports and others facing inflation and financing constraints, creating a patchwork of outcomes.

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Frequently Asked Questions About Current Account

What is Current Account about and what kind of topics does it cover?

This show focuses on global finance, macroeconomics, and policy with a U.S.-centric lens. Across episodes, topics routinely cover central bank policy, inflation dynamics, energy markets, geopolitical risk, and regulatory developments, often tying these themes to private sector implications and capital flows. Notable strengths include a steady stream of high-profile guests from major financial institutions, think tanks, and government-adjacent organizations, plus a pragmatic, policy-forward approach that connects complex economics to real-world market impacts. The host's background and interview style tend to emphasize clarity around how political decisions, sanctions, and geopolitical events shape global finance and investor sentiment. List... more

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Current Account launched 4 years ago and published 155 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Current Account?

Recent guests on Current Account include:

1. Hal Brands
2. Alexis Crow
3. Martín Castellano
4. Paola Figueroa
5. Christiana Riley
6. Marcello Estevão
7. Stephen Myrow
8. Mona Yacoubian

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