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      Trump Taps Elon Musk and Vivek Ramaswamy to Lead ‘Dept. of Government Efficiency’

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      How do you slash, cut, restructure and even dismantle parts of the federal government?If you’re President-elect Donald J. Trump, you turn to two wealthy entrepreneurs: the spaceship-inventing, electric-car-building owner of a social media platform and a moneymaking former pharmaceutical executive who was once one of your presidential rivals.Mr. Trump said on Tuesday that Elon Musk and Vivek Ramaswamy will lead what he called the Department of Government Efficiency. It will be, he said, “the Manhattan Project” of this era, driving “drastic change” throughout the government with major cuts and new efficiencies in bloated agencies in the federal bureaucracy by July 4, 2026.“A smaller Government, with more efficiency and less bureaucracy, will be the perfect gift to America on the 250th Anniversary of The Declaration of Independence,” Mr. Trump wrote in a statement. “I am confident they will succeed!”The statement left unanswered all kinds of major questions about an initiative that is uncertain in seriousness but potentially vast in scope. For starters, the president-elect did not address the fact that no such department exists. And he did not elaborate on whether his two rich supporters would hire a staff for the new department, which he said is aimed in part at reducing the federal work force.Mr. Musk, who became one of Mr. Trump’s biggest campaign contributors, said before the election that he would help the president-elect cut $2 trillion from the federal budget. But he did not explain in any detail how that would be accomplished or what parts of the government would be slashed.“This will send shockwaves through the system, and anyone involved in Government waste, which is a lot of people!” Mr. Musk said in the statement.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump, Jay Powell and a Potential Fight over the Fed’s Future

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      As Trump allies including Elon Musk endorse ending the Federal Reserve’s independence, the central bank’s chair is reportedly ready to go to court to fight back.Jay Powell appears ready to defend Fed independence, and his job.Kent Nishimura/Getty ImagesA battle over the Fed’s future Donald Trump’s threat to exert more say over the Fed or even fire Jay Powell, the chair of the central bank, has alarmed some on Wall Street. But the president-elect’s effort took on added weight in recent days, after Elon Musk endorsed a push to erode the Fed’s independence.The fight shows how the future of the Fed could remain high on the agenda, and how far Musk’s influence — and the role of X as place for announcing policy positions — could extend across government.The Fed has its foes. Senator Mike Lee, Republican of Utah, introduced a bill in June to abolish the central bank, accusing it of being an “economic manipulator that has directly contributed to the financial instability many Americans face today.”Lee said on X that he wants to see the Fed under the president’s control — a view that Musk backed.Powell could turn to the courts to challenge any White House attempt to exert more control, according to The Wall Street Journal’s Nick Timiraos. Trump appointed Powell in 2017 but flirted with removing him shortly afterward. Powell held onto his job, but was ready for a fight if Trump made a move, Timiraos writes:Powell told then-Treasury Secretary Steven Mnuchin that he would fight his removal if sought by the president, according to people familiar with the matter. Trump was upset the Fed was raising interest rates against his wishes.For Powell, the unsavory prospect of a legal showdown — one he might have to pay for out of his own pocket — was imperative to preserve the ability of future Fed chairs to serve without the threat of being removed over a policy dispute.Powell has made it clear that the president doesn’t have the authority to remove a Fed chair. Last week, he said he wouldn’t step down if Trump asked him to do so after the central bank lowered borrowing costs by a quarter point. Removing him, he added, was “not permitted under the law.”A 1977 law gave Congress more oversight of the Fed, but enshrined the institution’s independence on policy.The central bank’s ability to set monetary policy without political influence is a core tenet for markets and the economy. The Fed also has an outsized influence through its freedom to buy and sell securities, like Treasury notes and bonds, as it looks to bring more liquidity to trading.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Should Not Let Putin Claim Victory in Ukraine, Says NATO Official

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      Adm. Rob Bauer warned against any peace deal that was too favorable to Russia, arguing that it could undermine American interests.A senior NATO military official suggested on Saturday that any peace deal negotiated by President-elect Donald J. Trump that allowed President Vladimir V. Putin of Russia to claim victory in Ukraine would undermine the interests of the United States.In a wide-ranging interview on the sidelines of a European defense summit in Prague, Adm. Rob Bauer, the Dutch chairman of NATO’s Military Committee, said: “If you allow a nation like Russia to win, to come out of this as the victor, then what does it mean for other autocratic states in the world where the U.S. has also interests?”He added: “It’s important enough to talk about Ukraine on its own, but there is more at stake than just Ukraine.”Mr. Trump has said repeatedly that he could end the war in Ukraine in a day, without saying how. A settlement outlined by Vice President-elect JD Vance in September echoes what people close to the Kremlin say Mr. Putin wants: allowing Russia to keep the territory it has captured and guaranteeing that Ukraine will not join NATO.A spokeswoman for Mr. Trump’s transition team, Karoline Leavitt, said he was re-elected because the American people “trust him to lead our country and restore peace through strength around the world.”“When he returns to the White House, he will take the necessary actions to do just that,” Ms. Leavitt said on Saturday.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      After Kamala Harris’s Loss to Donald Trump, Democrats Seek Answers

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      The Democratic Party agrees it needs to figure out what went wrong. The question is how.After suffering what could shape up to be their biggest electoral defeat in more than 40 years, Democrats agree on one thing: They need to figure out what went wrong.The question is how.After Republicans failed to oust President Barack Obama and lost ground in the Democratic-held Senate in 2012, G.O.P. leaders produced a 100-page report on what had gone wrong, which has been known ever since as the “autopsy.”Democrats didn’t do that after Hillary Clinton’s narrow defeat by Donald Trump in 2016. But as my colleague Adam Nagourney and I dialed up Democrats all over the country today, we got the sense that a push for a similar exercise had begun in some quarters.It’s coming from party stalwarts like Donna Brazile, a former interim chair and current at-large member of the Democratic National Committee.“It’s vital that we learn why turnout disappeared from 2020 to 2024 and much more,” Brazile wrote in an email.It’s coming from left-leaning lawmakers like Pramila Jayapal, the chair of the Congressional Progressive Caucus.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      What Trump 2.0 Means for Tech + A.I. Made Me Basic + HatGPT!

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      Listen to and follow ‘Hard Fork’Apple | Spotify | Amazon | YouTube | iHeartRadioKevin Roose and Rachel Cohn and Dan PowellElisheba IttoopPat McCusker and As of this week, we have a new president-elect. We discuss how the incoming administration’s approach to technology will affect Elon Musk, a TikTok ban, Big Tech’s antitrust challenges and the speed of A.I. progress. Then, Kashmir Hill, a technology reporter for The Times, joins to discuss her weeklong experiment of letting A.I. make every decision in her life. And finally, we play a round of election-free HatGPT!Guest:Kashmir Hill, technology reporter for The New York Times.Additional Reading:What a Trump Victory Means for TechI Took a ‘Decision Holiday’ and Put A.I. in Charge of My LifeAn ‘Interview’ With a Dead Luminary Exposes the Pitfalls of A.I.Meta’s Plan for Nuclear-Powered A.I. Data Center Thwarted by Rare BeesFired Employee Allegedly Hacked Disney World’s Menu System to Alter Peanut Allergy InformationPhoto Illustration by The New York Times; Photos: Doug Mills/The New York Times (Trump); Getty Images (emojis)Credits“Hard Fork” is hosted by More

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      La victoria de Trump es un triunfo para Elon Musk y la política de los grandes capitales

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      Es difícil separar el trabajo de campaña de Musk de otras influencias que llevaron a Trump a la Casa Blanca. Su papel podría inspirar iniciativas similares y contribuir a transformar las campañas modernas.En la estridente reunión de la noche electoral del martes, Elon Musk se sentó a dos asientos de Donald Trump, dispuesto a atribuirse mucho del mérito de su decisiva victoria presidencial.“Mi comité independiente de campaña, America PAC, mejoró enormemente la campaña republicana en el terreno en los estados disputados”, dijo Musk al comentarista conservador Tucker Carlson en una entrevista en Mar-a-Lago, la residencia y club privado de Trump en Florida. Publicó un meme desí mismo en el Despacho Oval para sus 203 millones de seguidores en X, su plataforma de redes sociales.Su vuelta de celebración fue el punto culminante de un esfuerzo que comenzó hace solo seis meses y que dependía de una arriesgada apuesta: el nuevo comité independiente de campaña de Musk dirigió eficazmente la operación de captación de votos de Trump en los estados más disputados, y Trump confió una función crucial de la campaña a un neófito en política.Es difícil separar el trabajo de campaña de Musk de otras influencias que llevaron a Trump a la Casa Blanca. Pero no cabe duda de que la elección fue una victoria no solo para Musk, sino también para la política del gran capital: un donante ultra rico aprovechó el cambiante sistema de financiación de campañas de Estados Unidos para inclinar la balanza como nunca antes.Musk financió casi en solitario una campaña que costó más de 175 millones de dólares. Sus representantes tocaron cerca de 11 millones de puertas en los estados disputados desde agosto, incluidos 1,8 millones en Míchigan y 2,3 millones en Pensilvania, según personas con conocimiento del asunto. Se gastaron otros 30 millones de dólares en un gran programa de correo directo y unos 22 millones en publicidad digital, incluso en medios afines a Trump como Barstool Sports.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Tesla’s Stock Jumps After Trump’s Victory

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      Investors believe that the electric car company led by Elon Musk will benefit from his support of the president-elect.Elon Musk defied conventional corporate wisdom by committing wholeheartedly to Donald J. Trump’s presidential campaign, donating tens of millions of dollars and running a get-out-the-vote drive.Now that bet has paid off, giving Mr. Musk a direct line to the White House that he may be able to use to bend policy in ways that could benefit Tesla, his electric car company. Mr. Trump has even bandied the idea of appointing Mr. Musk to head a “government efficiency” commission.One indication of how much Tesla could benefit was evident on Wall Street Wednesday morning, when the company’s share price jumped about 10 percent.It is too early to say how much of Mr. Musk’s newly acquired political capital he will allocate to Tesla as opposed to his other businesses like SpaceX, a major government contractor, or xAI, an artificial intelligence start-up.But investors clearly believe that a Trump administration will be good for Tesla, despite the president-elect’s often-expressed disdain for electric vehicles and renewable energy.Mr. Musk’s top priority is likely to be easing regulations on self-driving software that he has described as pivotal to Tesla’s future. That could include pressuring the National Highway Traffic Safety Administration to be less aggressive in scrutinizing the company’s technology. The safety agency is investigating whether a Tesla system that the company calls “full self-driving (supervised)” was responsible for four collisions, including one that killed a pedestrian.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump, Vance y sus aliados insultan a las mujeres al final de la contienda electoral

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      Trump ha utilizado un lenguaje misógino para referirse a Harris, fomentando un ambiente entre sus aliados y en sus mítines que se regodea en los insultos sexistas.De pie en su mitin final de la campaña de 2024, el expresidente Donald Trump, en los primeros minutos después de la medianoche del día de las elecciones, utilizó un rudo comentario sexista para atacar a la representante Nancy Pelosi, la expresidenta de la Cámara de Representantes quien es una de sus rivales políticas de larga data.“Es una mala persona”, dijo Trump en el Van Andel Arena de Grand Rapids, Míchigan. “Malvada. Es una malvada, enferma, loca”. Hizo una mueca exagerada, con la boca abierta para llamar la atención sobre la siguiente sílaba: “Pe…”.Luego levantó un dedo dramáticamente, fingiendo que se había dado cuenta. “Oh, no”, dijo. Mientras miles de personas se echaban a reír, Trump pronunció la palabra por el micrófono. “Empieza por P, pero no la diré”, añadió Trump. “Quiero decirla”.Mientras la multitud rugía aún más fuerte, algunos de los asistentes empezaron a suministrar la palabra que él apenas había omitido, gritando: “¡Perra!”.En los últimos días de la contienda, Trump ha hecho llamamientos directos a las mujeres mientras hace frente a una brecha de género en las encuestas que les ha preocupado a él y a su equipo. Ha evitado mencionar su papel en el nombramiento de los jueces de la Corte Suprema que anularon el derecho constitucional al aborto, una cuestión que, según las encuestas, es una de las principales preocupaciones de las votantes femeninas.Pero, al mismo tiempo, Trump ha utilizado un lenguaje misógino para referirse a la vicepresidenta Kamala Harris y ha fomentado un ambiente en sus mítines en el que oradores y asistentes se sienten cómodos profiriendo el tipo de insultos de género que, en otra época política, habría sido impensable decir en público.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More