"If [the shutdown] extended for the whole quarter, and given the fact that the first quarter tends to be low, we could end up with a number close to zero," Hassett said in an interview with CNN.
Though Hassett conceded that the ongoing shutdown would likely take a toll on the US economy, he insisted that growth would return to normal levels once the government reopens.
Meanwhile, addressing the ongoing shutdown, Congressman Hakeem Jeffries said during a news conference on Capitol Hill that US President Donald Trump’s State of the Union address is unlikely to occur on the floor of the House of Representatives.
"Unless the government is reopened, it is highly unlikely that the State of the Union is going to take place on the floor of the United States House of Representatives," Jeffries, who is the House Democratic Caucus chair, said.
READ MORE: White House Mulls Giving Dreamers Green Cards to End Gov't Shutdown — Reports
On Tuesday, media reports suggested that Trump is preparing two State of the Union speeches for next week, one in case he delivers his address in Congress and another for delivery at a rally somewhere outside of Washington, DC.
The US federal government has been partially shut down since December 22 as a result of a dispute over the wall between Trump and Congress. Trump has asked Congress to authorize $5.7 billion to build the wall, but Democrats have refused to meet the demand.
READ MORE: Trump's Approval Rating Reaches Lowest Level Ever Amid Shutdown — Poll