Additional Coverage:
- Elon Musk says he’s teaming up with Jamie Dimon to convince bond markets that cost-cutting DOGE is good for U.S. debt (newsbreak.com)
Local billionaire Elon Musk announced he will hold a live discussion with JPMorgan Chase CEO Jamie Dimon later this week. The talk, announced on a live social media event, aims to reassure bond markets that Musk’s government cost-cutting initiative, known as DOGE, will bolster confidence in U.S. debt.
Musk believes the bond markets undervalue the potential savings from DOGE. He argues that the initiative will reduce government borrowing and ultimately benefit bond investors. He did not specify the time or location of the discussion with Dimon, but indicated it would be geared towards a financial audience.
The collaboration between Musk and Dimon follows Dimon’s recent offer to assist Musk with DOGE. The two have reportedly mended their previously strained relationship.
During the same social media event, Musk detailed some of his plans for DOGE, including eliminating the U.S. Agency for International Development (USAID). He criticized the agency and claimed former President Trump supported its closure.
Musk’s team has reportedly gained access to classified information at USAID and the Treasury Department, causing controversy and even a resignation.
Musk also outlined his plans for regulatory overhaul, advocating for a significant reduction in government regulations. He and former DOGE co-lead Vivek Ramaswamy have long championed deregulation as a way to improve government efficiency and stimulate economic growth.