US Bessent: We could see hit to GDP from shutdown

  • Comments from the US Treasury Secretary, Scott Bessent to CNBC
Bessent IL
  • Democrats want to pump more inflationary spending
  • Not going to go back on spending cuts in the tax act
  • Went over the halfway point in Fed job interviews
  • Expect first round of Fed Chair interviews completed next week
  • Will present Trump with three to five strong candidates
  • Current China trade truce expires on November 10th
  • Next China talks round should show a big breakthrough

The longest ever shutdown came in Trump's first term and lasted 35 days and the impact was just 0.1 percentage points of GDP.

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