United States: A report from Bloomberg News reveals that billionaire Elon Musk is planning to dispatch his government efficiency team to the Federal Reserve after the central bank spends significant funds renovating its Washington DC headquarters, as reported by Reuters.
White House Briefing Hints at Broader Reform
President Trump commissioned Tesla (TSLA.O) and SpaceX CEO Elon Musk with the mission to lead a Department of Government Efficiency (DOGE) effort that aims to reduce federal spending while reshaping the entire government structure.
Media outlets published reports about Musk participating in a press meeting at the White House on Wednesday, as reported by Reuters.
*MUSK SAYS DOGE ‘SHOULD DEFINITELY’ EXAMINE FEDERAL RESERVE COSTS pic.twitter.com/hIsIJ8Lku2
— Investing.com (@Investingcom) May 1, 2025
DOGE’s Mission Timeline
Federal government organization DOGE will preserve its organizational mission through July 4, 2026. According to Axios, who reported in the same briefing, DOGE now plays a part in overseeing federal spending reductions through the end of 2028, according to Musk.