Former Treasury Secretary under President Barack Obama and former US Ambassador to Israel under President Joe Biden, Jack Lew, says pushing Iran to "zero enrichment" would be a step beyond the 2015 nuclear deal, while emphasizing the need for strict monitoring and removal of enriched uranium. He warns the economic fallout from the conflict depends on how long the Strait of Hormuz remains closed, with prolonged disruption likely to fuel energy shocks and consumer stress. Lew also says recent market strength reflects underlying US economic resilience but cautions risks could build if the conflict drags on. He speaks with Kailey Leinz on the late edition of Bloomberg's "Balance of Power."