πππJerome Powell has said that it is not possible for Donald Trump to fire him as he is protected under the US legislation. The Federal Reserve is an independent body and not part of the US Federal Government. However Jerome Powell's term as the Chairman ends in May 2026. It has been reported that Trump may allow Jerome Powell to serve his full term but after that things may change.
Elon Musk is in charge of 6 companies. They are Tesla, Space X, X (formerly known as Twitter), XAi, Neuralink and The Boring company. He is reported to work 80 to 100 hours a week. I cannot imagine how Elon Musk will find the time to be in charge of Trump's new Department of Government Efficiency (Doge) . The idea is grand - to trim costs and make government departments run more efficiently and eliminate USD 2 Trillion from the Budget.
However I believe it is an uphill task and 85% of the Budget is mandatory spending. This includes Medicare, Defense, Veteran welfare etc.
I also believe that Elon Musk should focus on running his companies especially Tesla as he is the CEO and he has a duty of care to his investors. There are many new projects that Tesla has in the pipeline such as Robotaxi, FSD, Optimus Robot. So Trump should find someone else to be the Head of DOGE.
As they say "Jack or Elon of All Trades, Master of None".
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