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Impact of U.S. government shutdown 'far worse than expected', says White House adviser
White House economic adviser warns the shutdown’s impact is much larger than expected and warns of near-term growth risks.
Kevin Hassett, the top economic adviser at the White House, described the ongoing shutdown as “far worse” than anticipated, citing rising disruptions in travel, construction and federal services.
He stopped short of declaring a recession but warned that if key sectors remain affected another week or two, the risk of a near-term downturn increases.
The commentary signals heightened caution among policymakers amid mounting economic fragility.