Companies are warning investors that federal spending cuts associated with the Department of Government Efficiency (DOGE) may negatively impact business operations. As the earnings season begins, filings to the SEC indicate that uncertainty stemming from the current administration could pose challenges for companies. BCA Research's veteran strategist, Peter Berezin, has raised concerns about the economic outlook, estimating a 75% chance of a recession within the next three months. He noted that conventional estimates may underestimate the potential impact of the trade war and DOGE-related cuts on economic activity, suggesting that growth could slow more than anticipated. Furthermore, BCA Research has downgraded stocks, citing the combination of tariffs and DOGE cuts as factors that could tip the U.S. economy into recession.