President Barack Obama Names Denis McDonough as His New Chief of Staff

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President Barack Obama has named Denis McDonough the new Chief of Staff in his administration, replacing Jack Lew.

McDonough, a native of Minnesota, had been the Deputy National Security Adviser since 2009, and is a career staffer on Capitol Hill.

"I have been counting on Denis for nearly a decade," President Obama said.  "I rely on his intellect and good judgement...He has been one of my closest and most trusted advisers...Denis has played a key role in every major national security decision of my presidency."

Read the entire transcript here.

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