Trump appoints Musk and Ramaswamy to lead new efficiency advisory group

President-elect Donald Trump has appointed Elon Musk and Vivek Ramaswamy to lead a new advisory group called the "Department of Government Efficiency" (DOGE). This group aims to reduce government spending and is not officially part of the government. The announcement has positively impacted Dogecoin, which surged 20% following the news. Musk's involvement is seen as a way to bring innovative ideas to government spending, with potential savings estimated at over $2 trillion. Musk and Ramaswamy will operate without the usual government restrictions, allowing them to implement their business-oriented strategies. The exact structure and authority of DOGE remain unclear.