Treasury Secretary Scott Bessent has made an important move in his administration by selecting Michael Friedman as his new chief of staff, according to multiple sources who spoke to CBS News. This pivotal role is expected to enhance the operations of the Treasury Department as it aligns with President Trump’s economic agenda.
Friedman, who previously worked within the White House Office of Presidential Personnel, played a significant role in staffing the Treasury Department during President Trump’s second term. His experience in this capacity is seen as a valuable asset, and Bessent expressed confidence in his ability to lead. In a statement to CBS News, Bessent remarked, “Over the past year, Michael Friedman has been a cornerstone in fortifying the U.S. Treasury with exceptional talent through his exemplary work in the Office of Presidential Personnel. His addition to our team is a natural transition from staffing the department to managing it, and he will play a key role in advancing President Trump’s America First Economic Agenda.”
With impressive credentials, Friedman holds degrees from both New York University and Harvard Law School, which further solidifies his qualifications for this influential position.
The transition comes as Bessent’s current chief of staff, Dan Katz, prepares to leave his post to take on a new role as the first deputy managing director at the International Monetary Fund. This shift marks an important step in Katz’s career, and the timing of the transition ensures continuity within the Treasury as it navigates ongoing economic challenges.
The expected handover between Katz and Friedman is set for later this week, as the Treasury Department continues its efforts to adapt to the complexities of economic policy-making in a rapidly changing global landscape.
