The two-week-old federal government shutdown is costing the U.S. economy about $15 billion a day in lost output Treasury Secretary Scott Bessent said putting an estimate on its economic toll and urging Democrats to "be heroes" and side with Republicans to end it.

Washington

The U.S. government shutdown has surpassed two weeks with no resolution in sight, as both major political parties remain entrenched in their positions. Treasury Secretary Scott Besant stated that the shutdown could be costing the U.S. economy up to $15 billion per day, highlighting its impact on investment and economic data availability.

The lack of government data is affecting not only domestic policy decisions but also international economies that rely on U.S. economic indicators. Legislative efforts to end the shutdown have stalled, with Democrats withholding votes over healthcare issues and President Trump indicating plans to permanently close certain programs. A federal judge has intervened to halt mass government layoffs while legal challenges proceed.

U.S. Treasury chief says shutdown is costing the US $15 billion a day

The U.S. government shutdown dragged on past the two-week mark with no signs of a resolution on Wednesday, and both Republicans and Democrats in Congress appeared braced for a long stalemate. You have two parties on a split screen right now. Democrats are in this fight until we win this fight for the American people. And at a news conference, Treasury Secretary Scott Besant put a price tag on the shutdown for the first time. We believe that the shutdown may start costing the U.S. economy up to $15 billion a day. Besant spoke as meetings between the world's financial and economic leaders got underway in Washington. He went on to say that the only thing slowing down an investment boom in the U.S., including in AI, was the ongoing shutdown. Meanwhile, important U.S. data that the rest of the world relies on is running dry. Insight into how well the U.S. economy is doing is critical for countries like Japan that rely on it to predict the fortunes of their own economies. One Japanese policymaker who declined to be named told Reuters the data-blind situation was a, quote, joke, and that Federal Reserve Chair Jerome Powell, quote, keeps on saying the Fed's policy is data-dependent, but there's no data to depend on. The Senate has failed to pass a bill approved by the Republican-led House to end the shutdown and fund the government until November 21. Democrats say they're withholding necessary votes to advocate for health care fixes. On Tuesday, President Trump said that his administration would produce a list on Friday of what he called Democrat programs to be closed because of the shutdown. He did not specify which ones, but told reporters the closures would be permanent. Later on Wednesday, a federal judge in California ordered the Trump administration to halt mass government layoffs during the shutdown, while she considers claims by unions that the job cuts are illegal.

President Trump confirmed that he has authorised the CIA to go into Venezuela and conduct covert operations.

Trump says he authorised covert CIA operations in Venezuela

Hamas is back on the streets of Gaza in an attempt, it says, to restore law and order -- and to send a message.

Tel Aviv-Yafo

Hamas executes Palestinians accused of collaborating with Israel

A federal judge in Oregon has extended temporary restraining orders that block the Trump administration from deploying National Guard troops to Portland. Meanwhile, federal agents in Chicago used tear gas to disperse a crowd after a car chase ended in a crash.

Chicago

Federal agents deploy tear gas in Chicago despite court order

A federal judge on Wednesday temporarily ordered the Trump administration to halt the firing of workers during the government shutdown.

Judge temporarily blocks Trump from firing workers during shutdown

Ukrainian President Volodymyr Zelenskyy is traveling to the U.S. to meet with President Trump. The two leaders are expected to discuss the possibility of the U.S. supplying Ukraine with long-range missiles.

Ukraine Invasion

Trump to meet with Zelenskyy about long-range missiles

The U.S. military struck a fifth apparent Venezuelan boat allegedly carrying drugs, U.S. President Donald Trump announced on social media Tuesday. CBS News' Natalie Brand has more details.

Caracas

Trump says U.S. struck another alleged Venezuelan boat

News organizations including The New York Times, The Associated Press and Newsmax as well as ABC, CBS, NBC, CNN and Fox News say they will not sign new press rules as laid out in a Defense Department document. This could mean the Trump administration will evict reporters from the Pentagon.

Major U.S. news media outlets refusing to sign new Pentagon rules

Madagascar’s president ousted in a military takeover — Youth-led protests and parliament’s impeachment vote spark political turmoil.

Antananarivo

Madagascar's military seizes power, president ousted

Thousands of messages shared in a group chat of Young Republicans are revealing some racist thoughts that even they worried about being leaked. The exchanges obtained by Politico are part of a Telegram chat among Young Republican leaders in New York, Kansas, Arizona and Vermont. Jason Beeferman, New York state politics reporter for Politico, joins with more.

Politico exposes racist messages sent by Young Republican leaders

The U.S. stock market rebounded on Monday (October 13) after President Trump appeared to walk back imposing new tariffs on Chinese goods.

Markets rebound after Trump softens tone on China tariffs

U.S. President Donald Trump is heading back to the U.S. after his whirlwind trip to the Middle East, where he celebrated the first phase of a peace plan between Israel and Hamas.

Sharm El-Sheikh

Middle East Conflict

Trump, world leaders sign Gaza peace plan and discuss next steps

The government shutdown entered its third week on Monday as the Senate is set to reconvene on Tuesday. CBS News' Nikole Killion has more from Capitol Hill.

Shutdown drags into third week as Senate set to reconvene

U.S. President Donald Trump was greeted in Tel Aviv with cheers and a military ceremony as he met families of hostages held in Gaza and addressed Israel's parliament. He now travels to Sharm El Sheikh, Egypt, to join world leaders in discussions on Gaza's future.

Trump meets with Israeli leaders and hostage families

Twenty living hostages were released by Hamas after more than two years in captivity as a ceasefire continues to hold. Families in Israel describe emotional reunions while others continue to await confirmation about missing relatives.

Families reunite as ceasefire brings hostages, prisoners home

Israeli officials have confirmed that all 20 living captives have been released in Gaza.

Israel confirms all 20 living captives in Gaza have been released

The carefully choreographed Israel-Hamas exchange is underway, with Israel set to release around 2,000 Palestinian prisoners following the release of remaining hostages held in Gaza. Noga Tarnopolsky reports from Tel Aviv’s Hostage Square.

Israel-Hamas swap begins as 2,000 Palestinian prisoners set for release

Following his visit to Israel, President Trump will stop in Egypt to co-host a major summit in Sharm el-Sheikh alongside Egyptian President Abdel-Fattah el-Sissi. The meeting will bring together leaders from more than 20 countries to discuss efforts toward peace in Gaza and the wider Middle East.

Donald Trump to co-host chair Gaza peace summit in Egypt

The French presidency announced Prime Minister Sebastien Lecornu's new cabinet line-up on Sunday (October 12), with most top jobs remaining unchanged at a time when opponents are demanding a political shift to win their support for urgent budget talks.

Paris

French presidency unveils new cabinet as budget pressure intensifies

Seven captives have been handed over to the Red Cross, who will facilitate their transfer to Israeli forces.

Israeli military says Red Cross has received 7 captives in Gaza

On his way to the Middle East, U.S. President Donald Trump told reporters he expects the ceasefire between Israel and Hamas to hold, despite concerns Hamas won’t abide by the deal.

Trump says the 'war is over', Gaza rebuild to start immediately

China on Sunday (October 12) called U.S. President Donald Trump's latest tariffs on Chinese goods hypocritical and defended its curbs on exports of rare earth elements and equipment, but stopped short of imposing new levies on U.S. products.

Beijing

Global Tariffs

Beijing blames U.S. for trade tensions, defends rare earth curbs

Afghanistan and Pakistan said they killed dozens of each other's troops during a night of heavy border clashes between the two countries. Afghanistan's Taliban forces launched attacks on Pakistani troops along their shared border in what it called "retaliation for air strikes carried out by the Pakistani army on Kabul".

Chaman

Border clashes between Afghanistan and Pakistan leave dozens dead

A ceasefire between Israel and Hamas held in Gaza for a third day ahead of the expected release of Israeli hostages and Palestinian prisoners and an address by U.S. President Donald Trump to Israel's parliament.

Ceasefire holds in Gaza ahead of hostage release, Trump visit

Zelenskyy called Trump for a second consecutive day to discuss defence and Ukraine's energy sector. It comes as Russia further intensifies its attacks on Ukraine's critical infrastructure ahead of its harsh winter.

Kyiv

Zelenskyy has second call with Trump amid Russian strikes

On Sunday, the minister of armed forces in Madagascar acknowledged an officer selected by a military group supporting demonstrators calling for President Andry Rajoelina to resign as the country's new army chief.

Madagascar’s president says coup underway

With a trade war between the U.S. and China intensifying ahead of a Nov. 1 tariff deadline, there’s growing concern Beijing will use Taiwan as a bargaining chip.

Taipei City

Growing fear China will use Taiwan to bargain with U.S.

In a televised address ahead of the planned release of Israeli captives and Palestinian prisoners, Israeli Prime Minister Benjamin Netanyahu called for unity despite ongoing divisions.

Netanyahu urges Israel put aside ‘differences’ with Gaza

U.S. President Donald Trump blamed Democrats for his decision to lay off thousands of workers across the U.S. government as he followed through on his threat to cut the federal workforce during the government shutdown.

Trump lays off thousands of U.S. government workers amid shutdown

Thousands gathered in Tel Aviv as 48 of the last remaining hostages are expected home after two years of the Israel-Hamas war. The crowd cheered Donald Trump as the peace deal's broker but there were jeers for Israeli Prime Minister Benjamin Netanyahu.

Breakdown