The daily business briefing: January 24, 2019

White House adviser warns shutdown could stall economy, jailed Carlos Ghosn resigns as head of Renault, and more

Carlos Ghosn in Detroit
(Image credit: Bill Pugliano/Getty Images)

1. Trump adviser warns shutdown could stall economy

White House Council of Economic Advisers Chairman Kevin Hassett told CNN on Wednesday that the economy could stall in the first quarter of 2019 if the partial government shutdown doesn't end. "If it extended for the whole quarter, and given the fact that the first quarter [growth rate] tends to be low because of residual seasonality, then you could end up with a number very close to zero in the first quarter," said Hassett, the White House's top economist. President Trump has painted a brighter economic picture, and has advised his aides to aim for 3 percent to 4 percent growth this year. Other White House officials say economic growth, already projected to be under 2 percent, is falling 0.1 percent each week the shutdown drags on. The shutdown is now in its fifth week.

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