Asset manager Bernstein reports that the market remains pessimistic about the Department of Government Efficiency (DOGE) initiative, expressing doubts about Elon Musk‘s ability to implement significant changes effectively.
“The market remains pessimistic on the DOGE hype & believes Elon will struggle to execute anything meaningful,” the report, released on Monday stated.
What Happened: The report explored the potential for DOGE to cut government fiscal spending, which is part of the Donald Trump administration’s attempt to control inflation, along with higher energy production.
While acknowledging the administration’s intention to explore crypto in governance, the report doesn’t see DOGE having a material impact.
The research firm does believe that even if DOGE were to become successful, it would not change their stance, noting that even with fiscal deficit reduction, “the U.S still would be left with a substantial …
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