Advocates of Project 2025, which guides President Donald Trump’s policies, hold unconventional views on deposit insurance. For nearly a century, the Federal Deposit Insurance Corp. (FDIC) has guaranteed millions of Americans and businesses that they can make everyday payments. As the White House seeks to limit the powers of financial regulators, Congress must understand the role of deposit insurance and monitor its future closely, as its absence could destabilize thousands of smaller U.S. banks. n nElon Musk’s Department for Government Efficiency (DOGE) is eliminating roles across the civil service to determine the minimum viable government structure. This approach has already faced setbacks, such as rehiring staff crucial to nuclear weapons safety and bird flu tracking after prematurely dismissing them. n n— news from Bloomberg
