The United States secretary of the treasury is the head of the

United States Department of the Treasury The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and t ...

, and is the chief financial officer of the

federal government of the United States The federal government of the United States (U.S. federal government or U.S. government) is the national government of the United States, a federal republic located primarily in North America, composed of 50 states, a city within a fede ...

. The secretary of the treasury serves as the principal advisor to the

president of the United States The president of the United States (POTUS) is the head of state and head of government of the United States of America. The president directs the executive branch of the federal government and is the commander-in-chief of the United Stat ...

on all matters pertaining to economic and fiscal policy. The secretary is a statutory member of the

Cabinet of the United States The Cabinet of the United States is a body consisting of the vice president of the United States and the heads of the executive branch's departments in the federal government of the United States. It is the principal official advisory body to t ...

, and is fifth in the presidential line of succession. Under the

Appointments Clause The Appointments Clause of Article II, Section 2, Clause 2, of the United States Constitution empowers the President of the United States to nominate and, with the advice and consent (confirmation) of the United States Senate, appoint public offi ...

of the

United States Constitution The Constitution of the United States is the Supremacy Clause, supreme law of the United States, United States of America. It superseded the Articles of Confederation, the nation's first constitution, in 1789. Originally comprising seven ar ...

, the officeholder is nominated by the president of the United States, and, following a

confirmation hearing A United States congressional hearing is the principal formal method by which United States congressional committees collect and analyze information in the early stages of legislative policymaking. Whether confirmation hearings (a procedure unique ...

before the

Senate Committee on Finance The United States Senate Committee on Finance (or, less formally, Senate Finance Committee) is a standing committee of the United States Senate. The Committee concerns itself with matters relating to taxation and other revenue measures generall ...

, is confirmed by the

United States Senate The United States Senate is the upper chamber of the United States Congress, with the House of Representatives being the lower chamber. Together they compose the national bicameral legislature of the United States. The composition and pow ...

. The secretary of state, the secretary of the treasury, the

secretary of defense A defence minister or minister of defence is a cabinet official position in charge of a ministry of defense, which regulates the armed forces in sovereign states. The role of a defence minister varies considerably from country to country; in som ...

, and the

attorney general In most common law jurisdictions, the attorney general or attorney-general (sometimes abbreviated AG or Atty.-Gen) is the main legal advisor to the government. The plural is attorneys general. In some jurisdictions, attorneys general also have exec ...

are generally regarded as the four most important Cabinet officials, due to the size and importance of their respective departments. The current secretary of the treasury is

Janet Yellen Janet Louise Yellen (born August 13, 1946) is an American economist serving as the 78th United States secretary of the treasury since January 26, 2021. She previously served as the 15th chair of the Federal Reserve from 2014 to 2018. Yellen is t ...

, who is the first woman to hold the post.

Powers and functions

The secretary along with the

treasurer of the United States The treasurer of the United States is an officer in the United States Department of the Treasury who serves as custodian and trustee of the federal government's collateral assets and the supervisor of the department's currency and coinage produc ...

must sign

Federal Reserve notes Federal Reserve Notes, also United States banknotes, are the currently issued banknotes of the United States dollar. The United States Bureau of Engraving and Printing produces the notes under the authority of the Federal Reserve Act of 1913 ...

before they can become

legal tender Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in pa ...

. The secretary also manages the

United States Emergency Economic Stabilization fund The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President G ...

. Most of the department's

law enforcement agencies A law enforcement agency (LEA) is any government agency responsible for the enforcement of the laws. Jurisdiction LEAs which have their ability to apply their powers restricted in some way are said to operate within a jurisdiction. LEAs ...

such as the

U.S. Customs Service The United States Customs Service was the very first federal law enforcement agency of the Federal government of the United States, U.S. federal government. Established on July 31, 1789, it collected import tariffs, performed other selected borde ...

, the

Bureau of Alcohol, Tobacco, Firearms and Explosives The Bureau of Alcohol, Tobacco, Firearms and Explosives (BATFE), commonly referred to as the ATF, is a domestic law enforcement agency within the United States Department of Justice. Its responsibilities include the investigation and prevent ...

(ATF), and the

U.S. Secret Service The United States Secret Service (USSS or Secret Service) is a federal law enforcement agency under the Department of Homeland Security charged with conducting criminal investigations and protecting U.S. political leaders, their families, and ...

were reassigned to other departments in 2003 in conjunction with the creation of the

Department of Homeland Security The United States Department of Homeland Security (DHS) is the U.S. federal executive department responsible for public security, roughly comparable to the interior or home ministries of other countries. Its stated missions involve anti-terr ...

Salary

The secretary of the treasury is a Level I position in the Executive Schedule and thus earns the salary prescribed for that level (

US$ The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...

221,400, as of January 2021).

List of secretaries of the treasury

; Parties (1) (4) (4) (29) (5) (34) Status Flag of the United States Secretary of the Treasury (1887-1915)

If both the secretary and the

deputy secretary of the treasury The United States Deputy Secretary of the Treasury, in the United States government, advises and assists the Secretary of the Treasury in the supervision and direction of the Department of the Treasury and its activities, and succeeds the Secret ...

are unable to carry out the duties of the office of secretary of the treasury, then whichever treasury official of under secretary rank sworn in earliest assumes the role of acting secretary. Positions listed on the Department of the Treasury website include the

under secretary for domestic finance The Under Secretary of the Treasury for Domestic Finance is a high-ranking position within United States Department of the Treasury that reports to, advises, and assists the Secretary of the Treasury and the Deputy Secretary of the Treasury. The u ...

, the

under secretary for international affairs The Under Secretary of the Treasury for International Affairs is a senior position within the United States Department of the Treasury responsible for advising the Secretary of the Treasury on international economic issues. During the Trump Admin ...

, and the

under secretary for terrorism and financial intelligence The Under Secretary for Terrorism and Financial Intelligence is a position within the United States Department of the Treasury responsible for directing the Treasury's efforts to cut the lines of financial support for terrorists, fight financial c ...

Notes

References

External links

* * , - {{DEFAULTSORT:United States Secretary Of The Treasury

Treasury A treasury is either *A government department related to finance and taxation, a finance ministry. *A place or location where treasure, such as currency or precious items are kept. These can be state or royal property, church treasure or in p ...

Treasury, Secretary of the

Secretary A secretary, administrative professional, administrative assistant, executive assistant, administrative officer, administrative support specialist, clerk, military assistant, management assistant, office secretary, or personal assistant is a w ...

1789 establishments in the United States