Skepticism Grows as JPMorgan Critiques Musk’s D.O.G.E. Federal Reform Efforts
JPMorgan has raised doubts about the feasibility of the newly established Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy under President-elect Trump.
The department aims to streamline federal operations and cut wasteful spending, with Musk proposing reductions of up to $2 trillion to address what he calls “insane government spending.” However, JPMorgan highlights that Congress ultimately controls spending, making DOGE’s recommendations challenging to implement without bipartisan support. Investors remain cautious about how much of Trump’s agenda will materialize in his next term.
Clever Robot News Desk 25th November 2024
