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Hassett at the Economic Club of Washington: Shutdown Costs and the Growth Outlook, Nov. 12, 2025

November 12, 2025 · The Economic Club of Washington, D.C. · 0:49:57

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What happened

National Economic Council Director Kevin Hassett joined a conversation at the Economic Club of Washington, D.C., on November 12, 2025, in the Club’s recording. On the government shutdown then underway, Hassett put the White House estimate, as he stated it, at about $15 billion off GDP for each week of shutdown, and cited Goldman’s estimate of a one to one-and-a-half percentage-point reduction in the quarter’s growth rate — saying he had been expecting roughly a 3% fourth quarter before the shutdown hit.

Why it matters

The Economic Club conversation is Hassett’s longest on-the-record economic briefing of 2025 outside the television studios: the shutdown’s price tag, priced by the NEC director himself while it was still running.

Scoreboard watch

Scoreboard watch: the shutdown cost estimate as Hassett stated it on November 12, 2025 — about $15 billion per week — flagged for the scoreboard editors; the entry itself remains review-gated.

Sources: The Economic Club of Washington, D.C., ‘The Honorable Kevin A. Hassett, PhD, Director, National Economic Council,’ November 12, 2025 (video iwQYJoAoYyk); transcript via Supadata (private research store, paraphrased and attributed, never republished verbatim).