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Market Chatter: Musk Says DOGE Stopping Treasury Payments to Some US Contractors
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Market Chatter: Musk Says DOGE Stopping Treasury Payments to Some US Contractors
Feb 3, 2025 5:37 AM

08:28 AM EST, 02/03/2025 (MT Newswires) -- Elon Musk said Sunday on X his so-called Department of Government Efficiency team is "rapidly shutting down" payments to a Lutheran charity, suggesting he may have access to systems used at the Treasury Department, according to a Bloomberg report.

Top security officials at the United States Agency for International Development were placed on leave Saturday after refusing to let DOGE workers access systems at the agency, according to the report.

Musk called USAID a "criminal organization" Sunday on X, adding, "Time for it to die."

"The corruption and waste is being rooted out in real-time," Musk said on X.

Bloomberg noted Treasury officials have long maintained the Treasury's role is to serve as the government's checkbook - and that the decision of whether to approve or deny payment belongs to the individual agencies based on funds appropriated by Congress.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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