Democratic Socialist Wins Upset in FL Senate Primary | Balance of Power 08/19/2026

Summary

Bloomberg's Balance of Power covers the tentative U.S.-Canada tariff deal, the U.S. national debt crossing $40 trillion and Treasury buybacks, primary results in Florida and Alaska, and congressional pushback against data center expansion. Jason Furman argues higher interest rates are likely here to stay and questions whether leading AI companies can monetize the AI boom. The program also highlights a massive Moderna rally on melanoma vaccine news.

• U.S. and Canada reportedly reached a tentative deal to reduce Canadian steel, aluminum, and auto tariffs.
• The U.S. national debt crossed $40 trillion as Treasury announced buybacks to lower long-end yields.
• Florida's primary produced a Democratic Socialist upset, and Alaska's Senate primary signals a tighter race.
• Rep. Suhas Subramanyam opposes more data centers, citing power, environmental, and utility-bill costs.
• Jason Furman says higher interest rates are likely here to stay due to competing government and business capital demands.
• Furman sees AI as real but uncertain whether leading AI companies will monetize it.
• Moderna soared after Merck/Moderna vaccine data for melanoma, pressuring Moderna shorts.