Friedman named as Bush's chief economic adviser

The White House on Thursday announced Stephen Friedman, the former chairman of Goldman Sachs, as chief economic adviser to president George W. Bush. He replaces Larry Lindsey who was a former Federal Reserve governor.

The appointment of Mr Friedman in place of Larry Lindsey, who left last week, will complete the reshuffle at the top of the Bush administration's economic team.

It follows Monday's replacement of Treasury secretary Paul O'Neill with John Snow.

Mr Friedman, currently a senior princi