On Wednesday, President Biden will host President-elect Donald Trump in the Oval Office as Trump continues to build his administration. Trump says billionaires Elon Musk and Vivek Ramaswamy will head a new agency to cut what he sees as waste in the federal government. He also announced he is nominating Pete Hegseth to serve as defense secretary. The Fox News host and Army veteran has blasted diversity, equity and inclusion initiatives in the military.