Katz, U.S. Treasury Chief of Staff, Nominated as IMF's Second-in-Command

Trump Administration Seen as Signaling Easing of Relations with IMF
Concerns Grow Over Increasing Influence on Independent Financial Institutions

According to a report by Bloomberg on the 17th (local time), citing sources, Dan Katz, Chief of Staff to U.S. Treasury Secretary Scott Besant, has been nominated as the First Deputy Managing Director of the International Monetary Fund (IMF), the organization’s second-highest position.

Politico, also citing sources, reported that Katz may be officially nominated for the First Deputy Managing Director position as early as the 19th.

Dan Katz, U.S. Treasury Department Chief of Staff. Manhattan Institute

Traditionally, the United States nominates the IMF First Deputy Managing Director, and the appointment is made by Managing Director Kristalina Georgieva. Katz is set to succeed Gita Gopinath, the former First Deputy Managing Director, who resigned at the end of last month.

Since January, when the second Trump administration began, Katz has worked at the Treasury Department, leading major international policy initiatives such as the minerals agreement with Ukraine and tariff negotiations with China.

Katz graduated from Yale University and earned a Juris Doctor degree from New York University. During the first Trump administration, he served as Senior Advisor at the Treasury Department. He is a close confidant of Secretary Besant, having worked under him on Wall Street as a hedge fund manager. He has also held positions at the Manhattan Institute and Goldman Sachs.

The Trump administration has maintained a critical stance toward the IMF. Secretary Besant has previously criticized the IMF for actively pursuing policies on climate change, diversity, and inclusion, while failing to oversee whether countries receiving loans are implementing economic reforms. Foreign media outlets predict that if Katz becomes the First Deputy Managing Director, he will continue to advance policies aligned with Secretary Besant’s approach.

The Financial Times (FT) anticipated that this appointment would be positively received within the IMF, interpreting it as a strong signal that the Trump administration seeks to ease relations with the IMF. The IMF is expected to reduce its focus on climate change and diversity-related work in response to Secretary Besant’s criticisms. Until now, Managing Director Georgieva has advocated for free trade and criticized the Trump administration’s tariff policies, but with Katz becoming the organization’s second-in-command, a shift in the IMF’s stance on tariffs is also expected.

Meanwhile, following U.S. Economic Advisory Council Chairman Steven Myron’s appointment as a Federal Reserve Board member and Katz’s move to the IMF, concerns are growing that President Trump is gradually increasing his influence over independent financial institutions.