Labor Economics and Public Policy by Michael Strain
Michael Strain: U.S. economy is very strong but faces inflation issue
Economist Michael Strain of the American Enterprise Institute said the U.S. economy is very strong but also has an inflation problem. He added that he does not believe these two characteristics ...
Inflation-adjusted average wage peaked in November 2025, Michael Strain notes
Wages in the U.S. have grown by 5.5% and prices by 5.4% since President Donald Trump began his second term in January 2025. Michael Strain reported that the inflation-adjusted average wage peaked ...
Michael Strain: Rapid rise in 10-year yield raises concerns over U.S. credibility
Michael Strain highlights concern over the swift increase in the 10-year yield. He suggests there are multiple possible reasons for this trend, including reduced credibility of the U.S. government ...
No Surprises Act arbitration system raising premiums, Michael Strain notes
Michael Strain points out that five years after the federal No Surprises Act, the arbitration system it established is contributing to higher premiums for everyone. The comment echoes the views ...
Michael Strain: Federal Reserve unlikely to raise interest rates this week
Michael Strain expresses the view that the Federal Reserve is unlikely to raise interest rates this week. He points to the July Federal Open Market Committee meeting as evidence that most ...
Efforts to lower long yields may not succeed, Michael Strain argues
Michael Strain expresses skepticism regarding Secretary Bessent's recent financial engineering and jawboning aimed at reducing long-term yields. Strain points out that these measures are ...
Michael Strain: Fed should raise rates in September after missing July
Michael Strain expresses his agreement with Chairman Warsh's economic outlook following Warsh's Jackson Hole speech. Strain believes that the Federal Reserve should raise interest rates in ...
Fed rate increase next month is warranted, Michael Strain argues
Michael Strain agrees with Chairman Warsh's perspective on the economic outlook and believes that current economic conditions strongly indicate the Federal Reserve should raise interest rates next ...
Michael Strain: Reducing budget deficit more effective for lower interest rates
Michael Strain suggests that reducing the budget deficit would be a more effective way to bring down interest rates compared to relying on financial engineering. He contrasts these two ...
Rising U.S. debt and 6.7% mortgages create pressures, Michael Strain notes
Michael Strain highlights several major economic concerns facing the U.S., focusing on $40 trillion in national debt, 6.7% mortgage rates, and $5 diesel prices for consumers and businesses. These ...
Michael Strain: Federal budget deficit should be main concern over interest rates
Michael Strain argues that the primary economic issue is not the rise in interest rates on government bonds but rather the federal budget deficit. He emphasizes that, if limited to one concern, ...
Workforce participation above pre-pandemic level, Michael Strain points out
Michael Strain argues that the labor market is performing better than indicated by headline payroll numbers released earlier in the day. He notes that workforce participation among individuals ...
Michael Strain: Working in clients interests is the key moral issue in investing
Michael Strain discusses the importance of working in the best interests of clients in the investment industry. He highlights that the core moral issue is serving clients properly, referencing ...
Part D program expenses rise for taxpayers, Michael Strain notes
Michael Strain highlights concerns about the current state of the U.S. Medicare Part D market. According to Strain, the Inflation Reduction Act (IRA) has led to program expenses that are much ...
Michael Strain: Odds of U.S. rate hike rise as inflation accelerates
Michael Strain observes that underlying inflation seems to be accelerating. He highlights that the bond market is pricing in roughly two-thirds chance of a U.S. rate hike in September and about ...
Considering encyclical guidance on GDP and finance, Michael Strain notes
Michael Strain expresses his commitment to thoughtfully consider every aspect of a recent encyclical, highlighting that he finds it especially challenging to do so for the sections addressing GDP ...
Michael Strain: California $20 minimum wage discussed in new podcast
Michael Strain highlights a podcast episode from Cato Institute featuring a discussion with Ryan Bourne and Jeffrey Clemens on California’s $20 minimum wage, along with other related topics. ...
Fed must control inflation as key duty, Michael Strain writes
Michael Strain states that the responsibility to maintain low and stable inflation lies with the Federal Reserve, not President Donald Trump. He adds that advocates of central bank independence, ...
