Washington, Oct. 16 -- The ongoing US federal government shutdown could cost the American economy as much as $15 billion per week, a Reuters report said, citing a Treasury official. A Treasury official said the updated cost estimate was based on an analysis by the White House Council of Economic Advisers (CEA).

Treasury Secretary Scott Bessent said the "shutdown is starting to cut into the muscle of the US economy", and urged Democrats to "be heroes" and cooperate with Republicans to reopen the government.

Despite the fiscal disruption, Bessent maintained that the US remains in the midst of a powerful investment boom, driven by incentives in the Republican tax law and President Donald Trump's trade tariffs.

Now in its third week, the s...