His enemies were hoping that Donald Trump would come out badly from the Epstein files, but he hasn't. Gerry argues that the scandal is a parable about modern capitalism, and remembers the time Jeffrey Epstein tried and failed to make friends with him. Katy tells the inside story of her interview with Peter Mandelson.

Also, what can we expect when the Clintons testify to the Epstein investigation? And what does President Trump mean when he says "nationalise the vote"?

Katy Balls, Washington editor and columnist at The Times and The Sunday Times

Gerard Baker, columnist at The Times and editor at large at The Wall Street Journal

Producer: Euan Dawtrey

Executive producer: Molly Guinness

Email us: thestateofit@thetimes.co.uk

This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today

Hosted on Acast. See acast.com/privacy for more information.

Welcome to the first ever episode of The State of It: USA. An attack on Iran looks imminent: we reveal what senior military and political figures are saying about it.

Also, is Donald Trump taking a softer line on immigration after the deaths of Renée Good and Alex Pretti in Minneapolis?

And get ready for Melania, the movie.

Katy Balls, Washington editor and columnist at The Times and The Sunday Times

Gerard Baker, columnist at The Times and editor at large at The Wall Street Journal

Producer: Euan Dawtrey

Executive producer: Molly Guinness

Email us: thestateofit@thetimes.co.uk

This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today

Hosted on Acast. See acast.com/privacy for more information.

Katy Balls and Gerard Baker bring you the REAL truth about US politics and power. No fake news, no flag waving and no Trump Derangement Syndrome. Just honest, in-depth discussion of what’s really being said inside the White House.

Join the conversation between two people who know everyone in the USA who matters. Beaming in from NYC, Gerard brings almost 30 years’ experience reporting on America while Katy is the new kid on the block, spending her days chasing news and her nights on the Washington cocktail circuit.

The series launches on 28 January 2026.

This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today

Hosted on Acast. See acast.com/privacy for more information.