Economics
White House Says Shutdown Trims 0.1% From GDP Every Two Weeks
- Estimate in line with private forecasters’ projections
- Hassett doesn’t expect major impact if impasse ends soon
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The ongoing partial government shutdown will cut U.S. economic output by about 0.1 percent every two weeks, the chairman of the White House Council of Economic Advisers said.
“Our estimate is that GDP in the first quarter could go down by about a tenth if this were to resolve in the next few weeks,” CEA Chairman Kevin Hassett told reporters at the White House on Thursday.