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Higher Interest Rates Are 'Likely Here to Stay': Furman

Jason Furman, former Chairman of the Council of Economic Advisers under President Obama, says higher interest rates are "likely here to stay" as government and businesses compete for capital, with US national debt surpassing $40 trillion. Furman says Congress ultimately must address the fiscal imbalance through spending cuts, tax increases, or both. He also weighs in on the economic impact of AI, arguing meaningful productivity gains may still be one to three years away as businesses learn how to deploy the technology. He speaks with Kailey Leinz on the late edition of Bloomberg's "Balance of Power." (Source: Bloomberg)