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Current Account with Clay Lowery

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

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

In this episode of Current Account, Clay is joined by Stephen Myrow, Managing Partner of Beacon Policy Advisors, to take stock of where the U.S. midterm elections stand six months out - and why they matter far beyond Washington. They discuss why the ... more

In this episode of Current Account, Clay is joined by Mona Yacoubian, Director of the Middle East Program at CSIS, to unpack what the current phase of negotiations to deescalate the conflict in Iran is really telling us. They discuss how Iran is view... more

In this episode of Current Account, Clay is joined by Isabelle Mateos y Lago, Chief Economist at BNP Paribas, who shares her perspective from conversations across Spring Meetings and brings years of experience at the intersection of economics, geopol... more

In this episode of Current Account, Clay is joined by Jayee Koffey, Chief Global Affairs Officer at BNY, to discuss how firms are balancing global efficiency with mounting pressure to localize, de‑risk, and align more closely with national priorities... more

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Recent Guests

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
Jayee Koffey
Chief Global Affairs Officer at BNY
BNY Mellon
Episode: Episode 141 – It Takes a Village - Risk Management in a Time of Crisis
Helima Croft
Managing Director and Head of Global Commodity Strategy at RBC Capital Markets
RBC Capital Markets
Episode: Episode 140 – Let’s Get This Strait: Iran, Oil, and Global Markets
Negar Mortazavi
Award-winning journalist and editor/host of the Iran podcast; senior fellow at the Center for International Policy
Center for International Policy
Episode: Episode 138 – The War in Iran - Two Weeks In
Meghan Milloy
Managing Director of Corporate Communications and Head of Coms at IIF
Institute of International Finance
Episode: Episode 137 – Can Europe Move From Diagnosis to Delivery?
Doug Elliott
Partner at Oliver Wyman, focuses on financial regulation and public policy
Oliver Wyman
Episode: Episode 136 – When Regulatory Simplification Gets Complicated
Nathan Sheets
Global Chief Economist for Citi and former Undersecretary for International Affairs at the U.S. Treasury Department
Citi
Episode: Episode 135 – When the Questions Are Better Than the Answers: Signals From Japan and the Dollar
Chris Padilla
Senior Advisor at the Brunswick Group and former Under Secretary of Commerce for International Trade
Brunswick Group
Episode: Episode 134 – The Best of Times and the Worst of Times: A Tale of Trump’s Tariffs

Hosts

Clay Lowery
Executive leadership and host of Current Account; represents the Institute of International Finance on global finance and policy issues.
Chris Padilla
Senior Advisor at Brunswick Group; frequent guest discussing trade policy and international economics.

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Episode 143 – Enduring the Pain - Strategy, Leverage, and the Cost of Waiting in the U.S.-Iran Conflict
Q: What are the US and regional goals going forward?
The US aims to reopen the Strait, degrade Iran's missile and proxy capabilities, and manage nuclear concerns, while regional states hedge their bets and reassess ties with Iran based on evolving calculations.
Episode 143 – Enduring the Pain - Strategy, Leverage, and the Cost of Waiting in the U.S.-Iran Conflict
Q: Who within Iran is driving policy, and how unified is the leadership?
There are competing power centers in Iran, including the Supreme Leader's inner circle and the IRGC; power appears more diffuse, with hardliners potentially stronger and less inclined toward compromise.
Episode 143 – Enduring the Pain - Strategy, Leverage, and the Cost of Waiting in the U.S.-Iran Conflict
Q: What is the current state of military and diplomatic activity around Iran and the Strait of Hormuz?
The line is fuzzy: a shaky ceasefire with no missiles flying, but the Strait remains closed and maritime tensions are high, with both sides engaging in provocative actions and a lack of clear talks.
Episode 141 – It Takes a Village - Risk Management in a Time of Crisis
Q: What governance and market conditions make infrastructure projects more bankable for long-term investors?
Clear contractual frameworks, transparency in procurement, stable policy frameworks, predictable governance over time, and strong execution capabilities are essential for attracting long-term private capital.
Episode 140 – Let’s Get This Strait: Iran, Oil, and Global Markets
Q: What should businesses watch for in the coming weeks and months as this situation evolves?
Businesses should focus on actions on the ground—what airlines, insurers, and energy producers are doing in response to risk; watch for signs of extended outages or convergences between paper and physical markets, and be prepared for multi-month disruptions in energy supply chains.

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Frequently Asked Questions About Current Account

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

This program consistently centers international finance and macro policy through the lens of U.S. policy and geopolitics, featuring in-depth conversations with senior finance professionals, policymakers, and industry experts. Episodes frequently tackle how global events—energy markets, regulatory reform, international trade, and major geopolitical tensions—shape markets, policy choices, and risk. A standout angle is the integration of real-time policy developments with market implications, often anchored by a leading IIF host who pulls in high-profile guests from finance, policy think tanks, and major corporations. This mix provides listeners with practical signals for investors, corporate strategists, and policymakers while offering a clea... more

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2. The Foreign Affairs Interview
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Current Account launched 4 years ago and published 146 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. Mona Yacoubian
2. Isabelle Mateos y Lago
3. Jayee Koffey
4. Helima Croft
5. Negar Mortazavi
6. Meghan Milloy
7. Doug Elliott
8. Nathan Sheets

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