White House eyes return to growth of 3%, 4% by early 2026 after shutdown knock

The U.S. economy should return to a growth pace of 3% to 4% by the first quarter of 2026, White House economic adviser Kevin Hassett said on Tuesday.

Hassett told CNBC citing economists' estimates that the government shutdown would knock about one percentage to 1.5% off growth rates that had reached around 4% during the past year.

"The question is, when does it all come back. And I think that some of the stuff is lost forever, and some of it isn't. But I would guess that by the first quarter of next year, we'll be back at the 3% or 4% growth pace."