Elon Musk says he’ll be spending less time in Washington slashing government costs and more time running Tesla after his electric vehicle company reported a big drop in profits. Tesla struggled to sell vehicles as it faced angry protests over Musk’s leadership of DOGE,

The carmaker reported the sharp decline in quarterly earnings after its brand suffered because of its chief executive’s role in the Trump administration.

Markets have been jittery about who’s pulling the levers of power in Washington this week, but investors finally got some of what they wanted—more Jerome Powell, less Elon Musk.President Donald Trump said he has no intention of firing Federal Reserve Chair Powell—a reversal from earlier comments that suggested otherwise and had pushed stocks lower Monday.