PANews reported on November 25 that according to Bitcoin.com, JPMorgan Chase released a report on November 22, evaluating the newly established Department of Government Efficiency (DOGE) in the United States. The department was established by President-elect Trump and led by Musk and Vivek Ramaswamy to streamline federal government operations and cut wasteful spending. JPMorgan Chase said: "In terms of government efficiency, President-elect Trump is expected to promote an agenda to reduce cumbersome procedures. This includes the newly established Department of Government Efficiency (DOGE)." It added: "We believe that the department led by Musk will face difficulties in cutting wasteful government spending."
JPMorgan Chase explained the obstacles DOGE may encounter, stating: Ultimately, Congress controls government spending, and DOGE sits outside of Congress. The department can make all the proposals it wants, but it ultimately takes a typical 60-vote majority in Congress to make legislative changes. JPMorgan Chase concluded: "A key question for investors in 2025 is which parts of the Trump 2.0 agenda will be emphasized and which parts will fade away."
