The Elon Musk-led Department of Government Efficiency claims to be streamlining the federal government’s spending
But it has so far sown confusion, with the Trump administration attempting to rehire employees it had previously fired.
DOGE presents a distorted reflection of the current state of the U.S. economy. U.S. President Trump has implemented a series of policies to try to stimulate effect, frequently modifying them mid-course, resulting in collateral damage within the country’s own borders.
U.S. markets have been on a downward trend and were significantly impacted on. Tesla shares have lost some 50% since Trump’s election. Consumers are also boycotting Tesla vehicles.
Tariffs, according to Trump, are meant to protect U.S. businesses and punish trade partners. But so far, it seems that the world’s biggest economy is the one suffering.
Dismal day in the markets
U.S. stocks experienced a rout Monday 10th March 2025 as fears of a recession gripped investors. The S&P 500 dropped 2.7%, the Dow Jones Industrial Average lost 2.08% and the Nasdaq Composite sank 4% in its worst session since September 2022.
The White House downplayed the market slump, saying it’s not as ‘meaningful’ as business activity (what does that mean exactly)?
Asia markets also retreated Tuesday 11th March 2025. Japan’s Nikkei 225 fell around 1% amid a weaker-than-expected showing for its fourth-quarter gross domestic product (GDP).