The U.S. economy is losing up to $15 billion a day due to the ongoing federal government shutdown, Treasury Secretary Scott Bessent warned, calling for swift action to end the standoff, Reuters reported.

The shutdown, now in its second week, is emerging as the main constraint on economic activity, Bessent said at a CNBC event alongside the IMF and World Bank annual meetings in Washington. He stressed that strong investment flows, including in artificial intelligence, continue to drive growth, but federal policy disruptions are slowing momentum.

“The only thing slowing us down here is this government shutdown,” Bessent said, highlighting the gap between pent-up demand and the limited functioning of government operations. He credited Republican tax incentives and tariffs with sustaining the investment surge, comparing the current growth environment to transformative periods such as the late 1800s railroad expansion and the 1990s tech boom.

On fiscal matters, Bessent signalled progress in deficit reduction. He said the 2025 federal deficit, ending September 30, had declined relative to the $1.833 trillion posted in the previous year, and projected that the deficit-to-GDP ratio could fall into the 3% range if growth continues and spending is constrained. Analysts note that the Congressional Budget Office estimates the 2025 deficit at $1.817 trillion, boosted by higher customs revenues from tariffs.

Bessent framed the fiscal outlook as an opportunity for policy action: “Yes, it’s still possible” to bring the deficit-to-GDP down, he said, stressing that growth, disciplined spending, and continued revenue gains are key.