The Department of Government Efficiency (DOGE), headed by Tesla (TSLA) CEO and tech billionaire Elon Musk, has implemented substantial federal workforce reductions across multiple agencies and programs to decrease government spending.
From the Bitcoin Investor Week conference, Senator Cynthia Lummis (R-WY) shares her perspective on these developments in a conversation with Yahoo Finance host Julie Hyman.
Lummis expresses confidence in the DOGE-led cuts, stating she's "not worried" about the reductions and explains that the "work of DOGE is to ferret out waste, fraud, and abuse." The senator characterized the department's progress as "impressive."
According to Senator Lummis, those most affected by these cuts will primarily be within the bureaucratic sectors of government. She notes that due to union contracts that typically protect federal employees from such reductions, "the only way to reduce employees is the machete approach."
Also catch Yahoo Finance executive editor Brian Sozzi's interview with Anthony Pompliano, Mike Cagney, and Anthony Scaramucci at the Bitcoin Investor Week conference.
Related Videos
To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
This post was written by Angel Smith