Norbert Michel

Norbert J. Michel is the director of Heritage’s Center for Data Analysis, where he specializes on issues pertaining to financial markets and monetary policy. He edited, and contributed chapters, to two books published by Heritage: The Case Against Dodd–Frank: How the “Consumer Protection” Law Endangers Americans, and Prosperity Unleashed: Smarter Financial Regulation.


Before rejoining Heritage in 2013, Michel was a tenured professor at Nicholls State University’s College of Business, teaching finance, economics and statistics. His earlier stint at Heritage was as a tax policy analyst in the think tank’s Center for Data Analysis from 2002 to 2005. He previously was with the global energy company Entergy, where he built a logistic regression model to help predict bankruptcies of commercial clients. His work allowed Entergy to better monitor monetary losses caused by customers’ delinquent payments.


Michel holds a doctoral degree in financial economics from the University of New Orleans. He received his bachelor of business administration degree in finance and economics from Loyola University. He currently resides in Alexandria, VA.

Episode Appearances

Episode 2: “Heritage Scholars’ Take on Today’s Pressing Economic Issues” with Jack Spencer and Norbert Michel


Guest(s): Norbert MichelJack Spencer

The Bill Walton Show: Episode 02 – Bill sits down with two of The Heritage Foundation’s top economic experts – Jack Spencer and Norbert Michel – to discuss economic policy, tax reform, the Paris Climate Agreement, Dodd-Frank and more.

Watch Now
Read About the Episode Now

Episode 222: “What You Need to Know About Your Money and the Federal Reserve” with Cato’s Norbert Michel


Guest(s): Norbert Michel

Is the Federal Reserve a godlike Zeus able to control our money and the economy, preserve financial stability and keep a lid on inflation? 

Or is it like the Wizard of Oz? A little man behind the curtain pulling levers to create smoke and noise to terrify and control people, but in the end only one market participant among many worldwide. 

If you’re a bond trader in New York, trying to predict minute day to day changes in interest rates, it’s more like Zeus. For the rest of us, I believe, it’s like Oz. 

Watch Now
Read About the Episode Now

Episode 56: Deconstructing the Federal Reserve with George Selgin and Norbert Michel


Guest(s): George SelginNorbert Michel

If the Fed brought home a report card reflecting its performance since its creation in 1914, its parents would not be pleased. Its record for stability is among the worst in the developed world, and it has done little to fix the problems it was invented to address.

Watch Now
Read About the Episode Now