Musk describes the DOGE blueprint and attempts to boost market confidence in U.S. debt

ChainCatcher news, according to Jinshi reports, Elon Musk, who leads the U.S. government's efficiency department "DOGE," recently outlined a blueprint for significant cuts to U.S. spending and regulations, including the abolition of the U.S. Agency for International Development (USAID). Musk stated in an X Spaces audio conference that a thorough cleanup of U.S. regulations is needed, revealing that his team is pushing to close this foreign aid agency established by U.S. Congress, which would be the largest reduction plan to date.

Additionally, Musk announced that he will have a dialogue with JPMorgan CEO Jamie Dimon this week, attempting to persuade the bond market that his "DOGE" cost-cutting plan can enhance market confidence in U.S. debt. Any signs of significant spending cuts and improvements in the fiscal deficit are good news for investors betting on a decline in U.S. Treasury yields. This nearly hour-long audio discussion was Musk's first detailed talk about the "DOGE plan" since Trump's election victory, with participation from Republican Senators Joni Ernst, Mike Lee, and former "DOGE" co-chair Vivek Ramaswamy in this free discussion.

Analysts believe that Musk's intensive actions two weeks before Trump's administration indicate that the authority of "DOGE" has far exceeded the scope of the executive order that created the department—this order only required it to "improve government efficiency and productivity by upgrading federal technology software."