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Milken Institute Finance
The Milken Institute Finance pillar addresses challenges across the financial system to increase access to capital, savings, and investments, particularly for underserved individuals, businesses, and communities. Our thought leadership, research, and insights influence private sector practices and public sector policies that improve equitable access, efficiency, and reliability of financial markets and institutions.
Finance Pillar Highlight
Insights
Bridging the Affordable Senior Housing Gap for the ‘Forgotten Middle’: An Investment Opportunity
As the older adult population rises, affordable housing for middle-income seniors becomes critical. Caught between government aid thresholds and luxury pricing, millions face limited options. Explore how innovative financing and care models can create sustainable, accessible solutions. Read the full article to learn more.
Finance Portfolios
We work within six portfolio areas: 10,000 Communities; Financial Innovations Labs; FinTech and Innovation; Geo-Economics, Climate Resilience, and Innovation; Inclusive Capitalism; and Lifetime Financial Security.
Featured Thought Leadership
Milken Institute Statement on Digital Asset Legislation
As the House moves forward on the CLARITY Act, the Senate’s GENIUS Act, and the Anti-CBDC Surveillance State Act, the Milken Institute commends the bipartisan, bicameral collaboration on these landmark bills, which will establish much...Read Statement
Milken Institute Statement on Final Passage of the Reconciliation Bill
“The Milken Institute commends the creation of Trump Accounts, previously known as Invest America Accounts, and the expansion of Opportunity Zones included in the final passage of the reconciliation package. These key provisions will...Read ArticleImage
Michael Piwowar, PhD
Executive Vice President, Milken Institute FinanceMichael S. Piwowar, PhD, is the executive vice president of Milken Institute Finance. Piwowar served as a commissioner at the US Securities and Exchange Commission (SEC) from August 15, 2013, to July 6, 2018.
Stories from the Field: Lynn Faria
Over the past decade, I’ve witnessed a profound evolution in how lesbian, gay, bisexual, transgender, and queer (LGBTQ+) aging is understood and prioritized within our communities and systems of care.Read ArticleMedicare Drug Price Negotiation Program Draft Guidance
The FasterCures team at the Milken Institute is honored to provide its expert response to the Request for Comments on the Medicare Drug Price Negotiation Program: Draft Guidance, Implementation of Sections 1191–1198 of the Social Security...Read LetterImage
Esther Krofah
Executive Vice President, Milken Institute HealthEsther Krofah is the executive vice president of Milken Institute Health, leading FasterCures, Public Health, the Future of Aging, and Feeding Change. She has extensive experience managing efforts to unite diverse stakeholders to solve critical issues and achieve shared goals that improve patients’ lives.Milken Institute Statement on the Reconciliation Bill
“As Congress continues to finalize the reconciliation package, the Milken Institute supports the key provisions for Trump Accounts and Opportunity Zones that will advance economic mobility for all Americans,” said Michael Piwowar, EVP of...Read StatementImageMichael Piwowar, PhD
Executive Vice President, Milken Institute FinanceMichael S. Piwowar, PhD, is the executive vice president of Milken Institute Finance. Piwowar served as a commissioner at the US Securities and Exchange Commission (SEC) from August 15, 2013, to July 6, 2018.
Employer Investments: Mitigating Risk to Maximize Business, People, and Community Resilience and Performance
The workplace is a community in and of itself, bringing together individuals in pursuit of a shared mission and purpose. Employers are trusted entities whose broad reach gives them a unique opportunity to advance public health priorities...Read Report
Making Workforce Housing Affordable: Breaking Structural Barriers
Redlining was a legally sanctioned practice of denying various services, including access to credit, for people living in specific neighborhoods, usually identified on the basis of race or ethnicity, and primarily in urban communities.Read ArticleImage
Blair Smith
Senior Director, Milken Institute FinanceBlair Smith is senior director at Milken Institute Finance, with more than 20 years of financial services and capital markets experience. He leads the Access to Capital and strategic innovative financing initiatives to enhance economic and social impact.
Debt and Climate Change: The New Playbook
By now, we all know the story—the world is going through a disruptive, transitional phase at historical levels. The dislocating effects of globalization have eroded support for the existing multilateral system, while exposing deficiencies...Read ArticleImage
Matthew Aleshire
Director, Geo-EconomicsMatthew Aleshire is director on the Milken Institute’s Geo-Economics Initiative and helps to lead the work around the topics of climate change, the global financial architecture, and international political economy. Aleshire previously focused on global policy and government engagement for the Milken Institute, overseeing efforts to advance policy solutions across the Institute’s research and convenings.Making Workforce Housing Affordable: The High Cost of Falling Behind
It’s difficult to pinpoint numbers in a population that is constantly on the move. But on a single night in 2024, when US state and local authorities nationwide counted their populations and reported the results to the US Department of...Read ArticleImageBlair Smith
Senior Director, Milken Institute FinanceBlair Smith is senior director at Milken Institute Finance, with more than 20 years of financial services and capital markets experience. He leads the Access to Capital and strategic innovative financing initiatives to enhance economic and social impact.
De Maquiladoras a Microchips: Expandiendo la Manufactura de Semiconductores en México
Ante la creciente incertidumbre global sobre posibles aranceles y retos a la relocalización de cadenas de suministro, acelerar la inversión en la producción de semiconductores en México podría ser clave para el crecimiento económico del...Read Article
American Innovation and the Future of Digital Assets: From Blueprint to a Functional Framework
WASHINGTON, DC (June 4, 2025) — Today, Michael Piwowar, Executive Vice President of Finance at the Milken Institute, provided testimony before the US House Committee on Agriculture hearing on American Innovation and the Future of Digital...View TestimonyImageMichael Piwowar, PhD
Executive Vice President, Milken Institute FinanceMichael S. Piwowar, PhD, is the executive vice president of Milken Institute Finance. Piwowar served as a commissioner at the US Securities and Exchange Commission (SEC) from August 15, 2013, to July 6, 2018.Milken Institute EVP of Finance Michael Piwowar Testifies on Digital Asset Market Structure Legislation
Washington, DC (June 4)—Today, Michael Piwowar, Executive Vice President of Finance at the Milken Institute, provided testimony before the US House Committee on Agriculture hearing on American Innovation and the Future of Digital Assets...Read Article
