Recorded on 07/17/26 In this episode, Roman Schweizer, TD Cowen’s WRG geopolitics &amp; defense analyst, is joined by an all-star reporter roundtable to discuss the resumed war between the USA and IRI, the complicated picture of defense spending heading into FY27, and a preview of the Farnborough International Air Show. The budget outlook is muddled along multiple tracks (the base budget, a third or fourth reconciliation package, and a DoW supplemental request). And Congress needs to get a continuing resolution in place before October 1 or there could be a shutdown. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

USA-IRI Ceasefire Over & FY27 Budget Outlook Murky Into Fall

TD Cowen Insights

I don't know how you can possibly plan for this if you're at the Pentagon, because you don't know how long this conference is going to go on, you don't know what it's going to look like. It seems like any time it's been stopped, then it speeds up again. You don't know what your budget's going to be like short term, you don't know what your budget's going to be like long term. Everyone's talking about maybe the budget will get figured out after the election.

From DoD to Congress and from the White House to Wall Street, the NATSEC Need to Know podcast. An unrehearsed podcast presenting insightful discussion and forecasts of the major national security and defense issues of the day. Welcome to the NATSEC Need to Know. We've got our reporters roundtable to discuss the top national security issues in Washington and around the world and a preview what to expect over the next several weeks. Joining me is a great group of experienced aerospace and defense editors and reporters.

We've got Tony Bertucca from Inside Defense, Joe Gould from Notice, Aaron Mehta from Breaking Defense, Robert Wall from Aviation Week, and Marcus Weisgerber from the Wall Street Journal. They've each covered Washington and the Pentagon for decades and are as well sourced as anyone in town. Thanks for joining us. Let's get after it.

All right. Thanks for joining us. This is another edition of the NATSEC Need to Know podcast, a special Happy America 250 post-July 4th full Murderers Row lineup. We have all attendees have joined and we've got the best in the business and we're going to kind of do a run through.

USA-IRI Ceasefire Over & FY27 Budget Outlook Murky Into Fall

Read the full transcript

The candid version is on a podcast,
not the earnings call.

USA-IRI Ceasefire Over & FY27 Budget Outlook Murky Into Fall

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.