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Michael R. Strain

Michael R. Strain

Writing for PS since 2022
12 commentaries

Michael R. Strain, Director of Economic Policy Studies at the American Enterprise Institute, is the author, most recently, of The American Dream Is Not Dead: (But Populism Could Kill It) (Templeton Press, 2020).

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  1. The Fed Must Not Flinch
    strain11_Chip SomodevillaGetty Images_fed Chip Somodevilla/Getty Images

    The Fed Must Not Flinch

    Mar 21, 2023 Michael R. Strain urges the US central bank to continue raising interest rates, despite signs of financial-sector fragility.

  2. Populist Joe
    strain10_ANDREW CABALLERO-REYNOLDSAFP via Getty Images_state of the union ANDREW CABALLERO-REYNOLDS/AFP via Getty Images

    Populist Joe

    Feb 20, 2023 Michael R. Strain hears too much Donald Trump and Bernie Sanders in the president’s recent rhetoric.

  3. Averting a Debt-Ceiling Disaster
    strain9_Win McNameeGetty Images_house debt ceiling Win McNamee/Getty Images

    Averting a Debt-Ceiling Disaster

    Jan 11, 2023 Michael R. Strain explains what needs to happen to prevent a financial crisis and an irreversible loss of US credibility.

  4. The Myth of Income Stagnation
    strain8_Klaus VedfeltGetty Images_wageincrease Klaus Vedfelt/Getty Images

    The Myth of Income Stagnation

    Dec 15, 2022 Michael R. Strain shows how new data refute the conventional wisdom about wages and inequality in the United States.

  5. The Republicans Lose with Trump
    strain_Win McNameeGetty Images_trump Win McNamee/Getty Images

    The Republicans Lose with Trump

    Nov 11, 2022 Michael R. Strain urges the party to draw the right conclusions from its lackluster performance in the US midterm elections.

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  1. bildt109_JAAFAR ASHTIYEHAFP via Getty Images_israelpalestinewestbank Jaafar Ashtiyeh/AFP via Getty Images
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    Hell in the Holy Land

    Carl Bildt fears that the stage is set for another major violent conflict between Israelis and Palestinians.
  2. strain11_Chip SomodevillaGetty Images_fed Chip Somodevilla/Getty Images
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    The Fed Must Not Flinch

    Michael R. Strain urges the US central bank to continue raising interest rates, despite signs of financial-sector fragility.
  3. sheng135_Carl CourtGetty Images_maldivesclimatechange Carl Court/Getty Images
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    Reimagining Development

    Andrew Sheng & Xiao Geng argue that grassroots engagement and social enterprise are crucial to achieving countries' aspirations.
  4. goldberg22_ERIC BARADATAFP via Getty Images_world bank ERIC BARADAT/AFP via Getty Images
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    What the World Bank Can Do About Climate Change

    Pinelopi Koujianou Goldberg explains how the institution can maximize its contribution to the global net-zero agenda.
  5. GettyImages-1171447879
    3

    Richard Haass on Russia, Taiwan, and US democracy

    Richard Haass explains what caused the Ukraine war, urges the West to scrutinize its economic dependence on China, proposes ways to reverse the dangerous deterioration of democracy in America, and more.
  6. buiter45_Jabin BotsfordThe Washington Post via Getty Image_jeromepowell Jabin Botsford/The Washington Post via Getty Images
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    Price Stability vs. Financial Stability?

    Willem H. Buiter

    If the US Federal Reserve raises its policy interest rate by as much as is necessary to rein in inflation, it will most likely further depress the market value of the long-duration securities parked on many banks' balance sheets. So be it.

     thinks central banks can achieve both, despite the occurrence of a liquidity crisis amid high inflation.
  7. frankel145_ Richard Baker In Pictures via Getty Images_exchangerates Richard Baker/In Pictures via Getty Images
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    Fifty Years of Floating Currencies

    Jeffrey Frankel

    The half-century since the official demise of the Bretton Woods system of fixed exchange rates has shown the benefits of what replaced it. While some may feel nostalgic for the postwar monetary system, its collapse was inevitable, and what looked like failure has given rise to a remarkably resilient regime.

     explains why the shift toward exchange-rate flexibility after 1973 was not a policy failure, as many believed.
  8. harrington34_Drew AngererGetty Images_avril haines Drew Angerer/Getty Images
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    What Do America’s Spies Really Think About China?

    Kent Harrington thinks the intelligence community’s annual threat assessment should have delved deeper on the issue.
  9. grafton2_ SIMON MAINAAFP via Getty Images_water SIMON MAINA/AFP via Getty Images
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    Waking Up to the World’s Water Crisis

    Quentin Grafton, et al. see three overarching priorities for the first global water conference in almost a half-century.

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