Fmr. Obama Econ. Adviser Furman: 'Credit Crunch' Will Hit Small Business as Big Companies on Bond Market See Declining Rates

On Thursday's broadcast of "CNN This Morning," Professor of the Practice of Economic Policy at Harvard University and the Harvard Kennedy School Jason Furman, who served as Chairman of the Council of Economic Advisers under President Barack Obama and on the Council of Economic Advisers and the National Economic Council under President Bill Clinton, stated that there will be a "credit crunch" that is going to hurt small businesses and people at the bottom getting loans from small, regional banks while big businesses borrowing on the bond market are seeing declining interest rates.