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WASHINGTON (AFP) ― The White House said Tuesday this month’s political showdown likely shaved at least a quarter percent off fourth-quarter economic growth and meant 120,000 fewer jobs were created in October.
Jason Furman, chairman of the president’s Council of Economic Advisors, presented the first detailed official analysis of the government shutdown and debt default saga, which he called a “self inflicted economic wound.”
Furman said that the study, using multiple streams of data, showed that the 16-day political drama had cut 0.25 percentage points off the fourth quarter growth rate.
Jason Furman, chairman of the president’s Council of Economic Advisors, presented the first detailed official analysis of the government shutdown and debt default saga, which he called a “self inflicted economic wound.”
Furman said that the study, using multiple streams of data, showed that the 16-day political drama had cut 0.25 percentage points off the fourth quarter growth rate.
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Articles by Korea Herald
