Speech · Administration
Black at Endless Frontiers: resurrecting American economic statecraft.
The DFC CEO uses his Austin keynote to set out the doctrine's working model: integrated capital stacks, regional industrial ecosystems, and the resurrection of the Marshall Plan playbook for the AI economy.
DFC investments will mobilize private capital to build holistic economic ecosystems anchored to U.S. capital markets, insulated against adversary control, and structured to generate strong returns for the American taxpayer, with economic development that moves the needle. We are focused on regions vital to economic security and strategic competition: the Western Hemisphere, Central Asia, Eastern Europe, and the Middle East and North Africa.
The Austin speech is Black''s fullest public statement of the doctrine''s instrument set. Private-capital mobilization. Sovereign-aligned ecosystems. U.S. capital-market anchoring. Insulation against adversary control. Each phrase is a line item in the doctrine''s constructive architecture.
The Marshall Plan reference is not nostalgic. The mechanic Black is invoking is the one in which seventy percent of European reconstruction funds were spent on procuring U.S. goods and services, in exchange for first priority on European critical materials. That is a working model, not a slogan, and the post-December 2025 reauthorization of DFC is what gives Black the balance sheet to run the model again.