The two-week US federal government shutdown is expected to cost the country's economy about $15 billion a week, a Treasury official said late Wednesday.
The statement corrected an earlier estimate by Treasury Secretary Scott Bessent, who had previously said the shutdown could cost as much as $15 billion a day.
According to the official, the new estimate is based on a report by the White House Council of Economic Advisers.
Bessent previously used the wrong figure in two separate public appearances on Wednesday, urging Democrats to be 'heroes' by working with Republicans to end the shutdown.
He said the government shutdown was now starting to damage the foundations of the US economy, which had previously shown strong performance.
Most recently, Bessent explained that the wave of investment into the US economy, including in the artificial intelligence (AI) sector, remains strong and is just beginning. However, he stressed that the government shutdown is increasingly becoming a barrier to growth momentum.
He added that President Donald Trump has unleashed this boom through his policies.
Incentives under the Republican tax law and Trump's tariffs are expected to continue to drive investment and support medium-term growth.
