JPMorgan Chase: The U.S. government's Efficiency Department may encounter obstacles in advancing federal reforms

2024-11-25 09:20:06

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ChainCatcher news, JPMorgan recently released a report evaluating the Department of Government Efficiency (DOGE) established by incoming President Trump, led by Elon Musk and Vivek Ramaswamy, aimed at streamlining federal operations and cutting wasteful spending.

The report stated: "In terms of government efficiency, Trump is expected to push an agenda that advocates for reducing red tape. This includes the establishment of a new Department of Government Efficiency," and added: "We believe that this department will find it difficult to achieve this."

JPMorgan explained the reasons why DOGE may encounter obstacles: "Ultimately, Congress controls government spending, and DOGE is outside of Congress. The department can propose all the suggestions it wants, but in the end, it is the typical 60-vote majority in Congress that decides legislative changes."

The report concluded: "One of the key questions for investors in 2025 is which parts of the Trump 2.0 agenda will be emphasized and which parts will gradually fade."

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