JPMorgan Chase: U.S. government efficiency department may face obstacles in promoting federal reforms

JPMorgan Chase recently released a report evaluating the Department of Government Efficiency (DOGE). Created by President-elect Trump and led by Elon Musk and Vivek Ramaswamy, the department aims to streamline federal operations and cut wasteful spending. “In terms of government efficiency, Trump is expected to pursue an agenda that advocates reducing red tape. This includes the creation of a new Department of Government Efficiency,” the report states, adding: “We believe that the department will have a hard time doing this.” JPMorgan Chase explains why DOGE may encounter obstacles: “Ultimately, Congress controls government spending, and DOGE sits outside of Congress. The department can make all the recommendations it wants, but ultimately it is the typical 60-vote majority in Congress that determines legislative changes.” “One of the biggest concerns for investors in 2025 is which parts of the Trump 2.0 agenda will be emphasized and which parts will fade,” the report concludes. (Bitcoin.com)