AI Bubble, Inflation, and the Limits of Monetary Policy | Jason Furman

In this episode of Hidden Forces, Demetri Kofinas interviews Jason Furman, an economic policy expert, about the U.S. economy, AI, and government policy. They discuss Furman's experiences in the Clinton and Obama administrations and his views on the government's role in the economy. The conversation covers AI regulation, the potential for an AI bubble, and productivity gains in the service sector. They also delve into the limitations of inflation models, the Fed's inflation target, and the politics of affordability, including the challenges faced by younger Americans. The discussion extends to price controls, tariffs, industrial policy, and the U.S. trade deficit, as well as the selection of the next Fed chair and its implications for monetary policy.