US Treasury Secretary: Agree with the DOGE department's concept, no need to worry about Musk disrupting fiscal discipline.

According to Bloomberg's report yesterday (7th), U.S. Treasury Secretary Scott Bessent responded to the recent work of the Department of Government Efficiency (DOGE) led by Musk and the tariff policy implemented by Trump, expressing his agreement with the concept of the DOGE department and denying the view that tariffs will lead to inflation. (Background: Goldman Sachs: Trade War May Cause Tech Stocks such as TSMC to Plunge 20%, Suggests Taking Profits First) (Background: Musk and DOGE: What You Need to Know About the Department of Government Efficiency) With the formal completion of the inauguration of the U.S. President Trump on the 20th of last month, the Trump administration has successively launched various new policies dedicated to "Making America Great Again," including tariffs, illegal immigration, gender policies... Among them, the Department of Government Efficiency (DOGE) led by Tesla's founder Musk is dedicated to reducing government spending. However, according to Bloomberg's report yesterday (7th), concerns have been raised after the DOGE department gained access to the U.S. Treasury's payment system—concerns that the world's richest man may have access to sensitive information about taxpayers, beneficiaries, government project contractors, and federal employees. U.S. Treasury Secretary: Agrees with Musk's DOGE Department Concept However, in response to this, the newly appointed U.S. Treasury Secretary Scott Bessent stated that although the Treasury Department has become the primary target of the DOGE department, he agrees with the department's concept and that the work of the DOGE department will not hinder the normal operation of the Treasury Department: This is one of the core measures to reduce government spending, which has enormous potential to save substantial funds for the American people. This is a planned action. Regarding the DOGE department's investigation of the Treasury's payment system, Bessent responded to public concerns in this way: These are trained professionals, not some wandering, arbitrary group. The DOGE investigation is just an operational investigation, not an ideological review. The operation of the Treasury Department is consistent, and we will act prudently and resolve the issue, and our order will not be affected, so please rest assured. Do Not Want Other Countries to Manipulate Trade by Devaluing Currency In addition, in response to the currency and trade policies of the Trump administration, Bessent also stated that under Trump's leadership, the United States will continue to promote its strong dollar policy. At the same time, he emphasized: We do not want other countries to manipulate trade by weakening their currencies. Countries like China, which have accumulated huge trade surpluses, show that the current global trading system is not completely free. Finally, regarding people's concerns about inflation, although Bessent acknowledges that tariff policies may cause minor price adjustments, he does not believe it will lead to an increase in inflation. At the same time, Bessent also stated that he has met with Fed Chairman Powell and has no intention of influencing the Fed's interest rate policy: I will not comment on future monetary policy. I believe Powell can make the right decisions, so I will not have any criticism.