Trump Expands 401(k) Alternatives, Pushes Faster Space Regulation

President Donald Trump signed two executive actions on Wednesday that together reflect a broad shift in how the administration seeks to shape capital markets and the U.S. space program. One order directs federal regulators to allow alternative investments in 401(k) and other defined-contribution retirement plans, signaling a potential expansion of assets available to ordinary savers. A separate order seeks to streamline and accelerate the regulatory path for commercial rocket launches and spaceport development, aiming to speed tests and deployments of private space ventures. Both actions emphasize faster decision-making and broader participation in influential sectors of the economy, though they also raise questions about risk, oversight, and environmental impact.

The retirement-focused initiative directs the Labor Department to reconsider its guidance on including alternative assets in retirement plans and to collaborate with the Treasury and the Securities and Exchange Commission to assess needed regulatory changes. The executive order defines “alternative assets” to cover private-market investments, including direct or indirect real estate, commodities, infrastructure...