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Elon Musk said he will continue to advise President Donald Trump even after stepping away from the Department of Government Efficiency effort he has spearheaded.

“I expect to remain a friend and an adviser, and hopefully, if there’s anything the president wants me to do, I’m at the president’s service,” Musk, the chief executive officer of Tesla Inc. and SpaceX, said alongside Trump during a press conference Friday at the White House. “This is not the end of DOGE, but really the beginning.”

The comments raise questions over the extent of Musk’s plans to pull back from Washington and return to running his business empire. As the head of DOGE, Musk’s efforts to slash spending and cut government jobs has drawn pushback from federal workers and Democratic lawmakers as well as a consumer backlash to his business interests.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg's Joe Deaux.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.
• International Chamber of Commerce Secretary General John Denton.
• Co-Host of the Odd Lots podcast Joe Weisenthal.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump pushed Federal Reserve Chair Jerome Powell to lower interest rates at their first in-person meeting since the president’s inauguration, the White House said.

The president told Powell that he believes the Fed chair is making a mistake by not lowering rates, White House Press Secretary Karoline Leavitt said at a briefing Thursday.

That “is putting us at an economic disadvantage to China and other countries, and the president’s been very vocal about that, both publicly and, now I can reveal, privately,” she added.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg's Tyler Kendall.
• Wiley Rein Partner Greta Peisch.
• Former Republican Congressman and Bloomberg Contributor Patrick McHenry.
• Bloomberg Economics Editor Stuart Paul and Bloomberg Economics US Economist Molly Smith.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

The White House will ask Congress next week to enact $9 billion of spending cuts into law — a small portion of the $175 billion in savings that Elon Musk’s Department of Government Efficiency claims to have found.

The cuts — first floated in April but waylaid amid efforts in the House to pass President Donald Trump’s tax bill — would target funding for the Public Broadcasting Service, National Public Radio and foreign aid in the current fiscal year, according to an Office of Management and Budget spokeswoman.

The renewed interest in the rescissions comes as Musk has criticized the “One Big Beautiful Bill” that Trump favored — and which passed the House last week — because it would increase federal deficits.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy.

On this edition, Joe and Kailey speak with:

• Republican Congressman Byron Donalds of Florida.
• Bloomberg Intelligence Financials Analyst Ben Elliot.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.
• Atlanta Mayor Andre Dickens

See omnystudio.com/listener for privacy information.