Government shutdown slows US economy, experts warn of slower growth

WASHINGTON, D.C. (ABC36 NEWS NOW) -Treasury Secretary Scott Bessent says the federal government shutdown is slowing the U.S. economy, with his department estimating the impact at roughly $15 billion per week.

One lawmaker predicts the shutdown could last past Thanksgiving, adding to growing concerns about economic uncertainty.

Experts note that tariffs had already been putting pressure on the U.S. economy before the shutdown. A new IMF report predicts that these trade tensions could contribute to slower economic growth compared to the rest of the world in the coming months.

Financial analysts say recent trade deals helped the U.S. stock market reach record highs, but tensions with China have caused significant market volatility.