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

Odaily News JPMorgan Chase recently released a report evaluating the Department of Government Efficiency (DOGE). Founded by President-elect Trump and led by Elon Musk and Vivek Ramaswamy, the department aims to streamline federal operations and cut wasteful spending. The report states: "In terms of government efficiency, Trump is expected to pursue an agenda that advocates reducing red tape. This includes the establishment of a new Department of Government Efficiency," adding: "We believe that the department will find it difficult to do this." JPMorgan Chase explained why DOGE may encounter obstacles: "Ultimately, Congress controls government spending, and DOGE is 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." The report concludes: "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." (Bitcoin.com)