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The U.S. Treasury Department announced on Monday that Treasury Secretary Scott Bessent has appointed Michael Friedman as his new chief of staff, succeeding Dan Katz. Katz is set to assume the deputy managing director role at the International Monetary Fund (IMF), making way for Friedman to step into one of the Treasury’s most influential positions.
Friedman, a seasoned professional with a background in both government and the private sector, previously worked as a special assistant for presidential personnel at the White House. According to Treasury officials, he played “a pivotal role” in shaping staff selection and recruitment for high-level positions during Donald Trump’s administration. His experience in overseeing personnel decisions has positioned him as a strategic choice for Bessent’s team as the Treasury navigates both domestic and global economic challenges.
Before joining the administration, Friedman held leadership roles at supply chain technology companies and e-commerce startups, demonstrating his versatility across industries. His career path reflects a blend of public service expertise and private-sector innovation, skills that are likely to benefit the Treasury as it tackles pressing issues such as inflation management, fiscal policy, and international financial stability.
A New York City native, Friedman holds advanced degrees from two prestigious institutions. He earned a law degree from Harvard Law School and an MBA from New York University’s Stern School of Business. This dual background in law and business underscores his qualifications for managing the complex responsibilities of a Treasury chief of staff.
The transition comes at a significant moment, with Katz moving to the IMF to serve as the No. 2 official. His shift to an international financial role highlights the growing interconnection between U.S. economic policy and global financial leadership. Meanwhile, Friedman’s appointment signals continuity and strategic alignment within the Treasury as Bessent strengthens his leadership team.
With his combination of White House experience, private-sector leadership, and top-tier academic credentials, Michael Friedman is expected to play a central role in shaping U.S. Treasury operations and advancing key policy initiatives in the months ahead.
