The appointment would come as the Trump administration has called for sweeping reforms at the global economic institution.

Katz joined the Treasury Department in January 2025 and was formerly a senior fellow at the Manhattan Institute.

Bessent argued that the core missions of the banking system are promoting full employment, stable prices and moderate long-term interest rates and that it has been distracted from these missions.

Financial markets are watching as Scott Bessent, a stabilizing force, uses a forceful approach to navigate internal White House feuds.

United States Treasury Secretary Scott Bessent believes that the relationship between India and the US “will come together,” adding that US President Donald Trump and PM Narendra Modi have a “very good rapport”.

Ongoing discussions involve potential sanctions, while the EU prepares further measures targeting Russia's oil industry and its allies.

Treasury Secretary Scott Bessent said on Sunday there are 'no guarantees' there won't be a recession, but expressed confidence in the stock market.