The Department of Government Efficiency has saved the government approximately $50 billion, Treasury Secretary Scott Bessent said. Bessent sat down with Fox News for an extended interview that aired on Tuesday evening,

Treasury Secretary Scott Bessent has a new plan in the fight to bring down historically high interest rates, and it’s got nothing to do with the Federal Reserve.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill

The secretary replaces Rohit Chopra, who had aggressively sought to expand the bureau’s authority over banks and other financial firms.

The Senate confirmed Scott Bessent as Treasury secretary on Monday, elevating the hedge fund manager to the new administration’s top financial job as President Donald Trump forges ahead on an ambitious economic agenda.

The month-old Department of Government Efficiency led by billionaire Elon Musk has saved American taxpayers $55 billion, according to the latest update from the group. Its ‘Wall of Receipts’ on its new website catalogues where the department has made cuts and how much those cuts are worth.