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The advent of pulsed power technology in the 1960s has enabled the development of very high peak power sources of electromagnetic radiation in the microwave and millimeter wave bands of the electromagnetic spectrum. Such sources have applications in plasma physics, particle acceleration techniques, fusion energy research, high-power radars, and communications, to name just a few. This article describes recent ongoing activity in this field in both Russia and the United States. The overview of research in Russia focuses on high-power microwave (HPM) sources that are powered using SINUS accelerators, which were developed at the Institute of High Current Electronics. The overview of research in the United States focuses more broadly on recent accomplishments of a multidisciplinary university research initiative on HPM sources, which also involved close interactions with Department of Defense laboratories and industry. HPM sources described in this article have generated peak powers exceeding several gigawatts in pulse durations typically on the order of 100 ns in frequencies ranging from about 1 GHz to many tens of gigahertz.