According to Bank of America's latest credit card spending data, Elon Musk's “Department of Government Efficiency” appears to be curbing spending in Washington, D.C. According to the report, although spending in Washington DC increased year-on-year in November, it declined in February; at the same time, other cities on the east coast of the United States saw a year-on-year increase in spending in February compared to three months ago. The bank also pointed out that the year-on-year increase in non-essential consumer spending in Washington DC in February was “significantly weaker” than other East Coast cities. However, the bank pointed out that overall credit card spending increased month-on-month, which indicates that the DOGE effect has so far only been a regional phenomenon.

According to Bank of America's latest credit card spending data, Elon Musk's “Department of Government Efficiency” appears to be curbing spending in Washington, D.C. According to the report, although spending in Washington DC increased year-on-year in November, it declined in February; at the same time, other cities on the east coast of the United States saw a year-on-year increase in spending in February compared to three months ago. The bank also pointed out that the year-on-year increase in non-essential consumer spending in Washington DC in February was “significantly weaker” than other East Coast cities. However, the bank pointed out that overall credit card spending increased month-on-month, which indicates that the DOGE effect has so far only been a regional phenomenon.