President-elect Donald Trump has tapped Tesla (TSLA) CEO Elon Musk and former Republican presidential candidate Vivek Ramaswamy to lead his proposed Department of Government Efficiency (DOGE), an initiative focused on curbing and reducing federal spending across agencies.

Yahoo Finance legal reporter Alexis Keenan explains the specific powers and limitations this initiative will have compared to official government agencies.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

This post was written by Luke Carberry Mogan.