A judge's decision to prevent the Treasury Department from sharing financial information with a Trump-era cost-cutting agency has raised concerns about potential risks to the global economy. The standoff between the Trump administration and 19 states centers on the Department of Government Efficiency's (DOGE) access to sensitive financial data. Treasury officials argue that external experts need access to maintain critical payment systems, while state attorneys general claim DOGE has no right to the information and that its acquisition poses a security risk. The judge's temporary restraining order could have significant implications for the U.S. and global economy, as the Treasury Department oversees vital financial operations.
A judge's decision to stop all external access to Treasury Department data could put the global economy at risk, a government official has warned.Why It MattersThe standoff between President Donald Trump's administration and 19 Democratic-leaning states affects the entire federal budget and could have massive implications for the U.S. and global economy.Newsweek sought email comment on Monday from Trump's Department of Government Efficiency , the U.S.
Krause is an associate of DOGE co-director, Elon Musk, and Krause's appointment was strongly opposed by Democrats.Krause has been overseeing a review of federal payments ahead of what are expected to be major cuts to the federal government.
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