Document Type

Lessons Learned

JEL Codes

G01, G29


Clay Lowery was assistant secretary for international affairs at the US Treasury during the Global Financial Crisis (GFC). His office was responsible for economic and financial diplomacy, international monetary affairs, debt strategy, global financial services, and US participation at the International Monetary Fund (IMF). This “Lessons Learned” is based on an interview with Lowery in September 2019.