who is the secretary of treasury

The secretary of the treasury is one of the most important in the executive branch, analogous to that of finance minister in other countries and responsible for all fiscal policy matters. As treasury secretary, Yellen would oversee nearly 87,000 employees and a budget of almost $20 billion. Positions listed on the Department of the Treasury website include the under secretary for domestic finance, the under secretary for international affairs, and the under secretary for terrorism and financial intelligence. As Secretary, Mr. Mnuchin is responsible for the U.S. Treasury, whose mission is to maintain a strong economy, foster economic growth, and create job opportunities by promoting the conditions that enable prosperity at home and abroad. Head of the United States Department of the Treasury, Living former secretaries of the treasury, United States Deputy Secretary of the Treasury, United States Senate Committee on Finance, United States presidential line of succession, International Bank for Reconstruction and Development, European Bank for Reconstruction and Development, United States Emergency Economic Stabilization fund, Bureau of Alcohol, Tobacco, Firearms, and Explosives, Level I position in the Executive Schedule, Under Secretary of Treasury for Domestic Finance, under secretary for international affairs, under secretary for terrorism and financial intelligence, List of living former members of the United States Cabinet, https://www.law.cornell.edu/uscode/text/3/19, "Duties & Functions: Secretaries of the Treasury", United States Secretaries of the Treasury, Agencies under the United States Department of the Treasury, Community Development Financial Institutions Fund, Treasury Inspector General for Tax Administration, Office of the Comptroller of the Currency, Office of Terrorism and Financial Intelligence, Office of Terrorist Financing and Financial Crimes, Treasury Executive Office for Asset Forfeiture, United States federal executive departments, Presidential line of succession in the United States of America, Secretary of Housing and Urban Development, https://en.wikipedia.org/w/index.php?title=United_States_Secretary_of_the_Treasury&oldid=991584711, Lists of members of the Cabinet of the United States, Short description is different from Wikidata, All Wikipedia articles written in American English, Wikipedia articles needing clarification from April 2017, Creative Commons Attribution-ShareAlike License, Office of South and Southeast Asia Nations, Office of the Middle East and North Africa, This page was last edited on 30 November 2020, at 20:42. President-Elect Joe Biden plans to nominate former Federal Reserve chairwoman Janet Yellen to become the next Treasury Secretary, sources … President-elect Joe Biden will choose Janet Yellen, former chair of the Federal Reserve, as his secretary of the Treasury, according to two sources with knowledge of the pick. 2 months ago. Biden begins planning for his presidency As of December 2020, there are ten living former secretaries of the treasury (with all secretaries that have served since 2003 still living), the oldest being George P. Shultz (served 1972–1974, born 1920). 8 Acting Under Secretary for Terrorism and Financial Intelligence Adam J. Szubin served as acting secretary of the treasury from January 20, 2017, until the confirmation of Steven Mnuchin which occurred February 13, 2017.   Whig (5) The Secretary is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt. 01:57. National Security Council. As Secretary, Mr. Mnuchin is responsible for the U.S. Treasury, whose mission is to maintain a strong economy, foster economic growth, and create job opportunities by promoting the conditions that enable prosperity at home and abroad. Second Lady Karen Pence. The Secretary of the Treasury is a member of the United States Cabinet, and is nominated by the President of the United States. Gov. [7], .mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{}  No party (1) As Secretary, Mr. Mnuchin is responsible for the U.S. Treasury, whose mission is to maintain a strong economy, foster economic growth, and create job opportunities by promoting the conditions that enable prosperity at home and abroad. The Secretary of the Treasury is an appointed Cabinet-level place in the U.S. federal authorities. Yellen was the Chair of the Federal Reserve between Feb. 3, 2014, and Feb. 3, 2018. Yellen would represent the Biden administration in global financial affairs and lead a department whose responsibilities range from the government's finances and tax collections to global currency markets, bank regulation and the printing of money. As Secretary, Mr. Mnuchin is responsible for the U.S. Treasury, whose mission is to maintain a strong economy, foster economic growth, and create job opportunities by promoting the conditions that enable prosperity at home and abroad. Janet Yellen is President-elect Joe Biden's choice for Secretary of Treasury. On Dec. 1, 2020, President-Elect Joe Biden nominated Janet Yellen to be Secretary of the U.S. Treasury. 2 Deputy Secretary of the Treasury M. Peter McPherson served as acting secretary of the treasury from August 17, 1988, to September 15, 1988. He was born and raised in New York City. Governor of the International Monetary Fund, the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, and the European Bank for Reconstruction and Development. Jacob Joseph "Jack" Lew (born August 29, 1955) is an American attorney and politician who served as the 76th United States Secretary of the Treasury from 2013 to 2017. First Lady Melania Trump. Recording minutes of a meeting means that the secretary takes note of who is present, the names of directors, and other formalities in a document. phone: (573) 751-8533 fax: (573) 751-9443 info@treasurer.mo.gov Yellen, 74, preceded Jerome Powell as chair of the Federal Reserve, … The Secretary of the Treasury is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt. Prior to his confirmation he also served as Founder, Chairman, and Chief Executive Officer of Dune Capital Management. Incumbent. The secretary along with the treasurer of the United States must sign Federal Reserve notes before they can become legal tender.   Democratic-Republican (4) Similarly, the Treasury collects taxes, but Congress sets tax policy. As Secretary, Mr. Mnuchin is responsible for the U.S. Treasury, whose mission is to maintain a strong economy, foster economic growth, and create job opportunities by promoting the conditions that enable prosperity at home and abroad. Governments finances. The Federal Reserve governor is a possible candidate for Biden's Treasury secretary. The choice of treasury secretary is an important one because that person would be instrumental in leading the nation’s economic recovery following the coronavirus pandemic. "As Treasury Secretary, I will work every day towards rebuilding that dream for all." He is concerned with finance and monetary matters, and, until 2003, some issues of national security and defense. [further explanation needed] The secretary also manages the United States Emergency Economic Stabilization fund. The Secretary acts as a principal advisor to the President and the Cabinet on financial points. He has extensive experience in global financial markets and investments. Attorney General, Eric Holder. It’s hard to overstate the enthusiasm among economists over Joe Biden’s selection of Janet Yellen as the next secretary of the Treasury. He is also responsible for strengthening national security by combating economic threats and protecting our financial system, as well as managing the U.S. 7 Deputy Secretary of the Treasury Neal Wolin served as acting secretary of the treasury from January 25, 2013, until the confirmation of Jack Lew which occurred February 28, 2013. Earlier in his career, Secretary Mnuchin worked at The Goldman Sachs Group, Inc. where he was a Partner and served as Chief Information Officer. The Treasury is responsible for collecting … About the Secretary Steven Terner Mnuchin was sworn in as the 77th Secretary of the Treasury on February 13, 2017. phone: (573) 751-8533 fax: (573) 751-9443 info@treasurer.mo.gov 1 William Jones served as acting secretary between the resignation of Alexander J. Dallas and appointment of William H. Crawford. Treasury was one of the first cabinet-level agencies; its first secretary was Alexander Hamilton. 6 Under Secretary for Terrorism and Financial Intelligence Stuart A. Levey served as acting secretary of the treasury from January 20, 2009, until the confirmation of Timothy Geithner, which occurred January 26, 2009. The United States Secretary of the Treasury is the head of the United States Department of the Treasury. What is the treasury secretary's job? He faces intense scrutiny for his role in the 2008 financial crisis. Most of the department's law enforcement agencies such as the U.S. Customs Service, the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), and the U.S. Secret Service were reassigned to other departments in 2003 in conjunction with the creation of the Department of Homeland Security. The Treasury secretary's job is to manage the public debt, even though the U.S. Congress controls spending and deficits. He also served as a Senior Economic Advisor to the President in developing his economic agenda. In the statement, Trump called Mnuchin a "world-class financier, banker, and businessman", and he said Mnuchin played an important role in developing his "plan to build a dynamic, booming economy". He founded OneWest Bank Group LLC and served as its Chairman and Chief Executive Officer until its sale to CIT Group Inc. Treasurer's Spotlight Newsroom Treasurer Meacham Sworn into Office in Inaugural Ceremony Oklahomans Contributing Millions for College Savings as Tax Deduction Deadline Nears Pension Commission to Legislature: Act Now March General R Steven Terner Mnuchin was sworn in as the 77th Secretary of the Treasury on February 13, 2017. Steven Terner Mnuchin was sworn in as the 77th Secretary of the Treasury on February 13, 2017. The Secretary of the Treasury, the Secretary of State, the Attorney General, and the Secretary of Defense are generally regarded as the four most important Cabinet officials, due to the size and importance of their respective departments. Council on Environmental Quality. If … He is also responsible for strengthening national security by combating economic threats and protecting our financial system, as well as managing the U.S. Government’s finances. The secretary of the Treasury doesn’t just oversee the department that prints the nation’s money, pays its bills, and collects its taxes. The most recent secretary of the treasury to die, as well as the most recently serving secretary to die, was Paul H. O'Neill (served 2001–2002, born 1935), on April 18, 2020. The secretary of the U.S. Treasury Department is the chief financial officer for the federal government. The Secretary oversees the activities of the Department in carrying out its major law enforcement responsibilities; in serving as the financial agent for the United States Government; and in manufacturing coins and currency. Secretary Mnuchin has played a pivotal role in advancing the Administration’s economic agenda, including the passage and implementation of its key legislative achievement, the Tax Cuts and Jobs Act. Ricardo Rosselló along Francisco Parés, new Secretary of Treasury. If both the secretary and the deputy secretary of the treasury 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. Flag of the Secretary of the Treasury.   Democratic (29) Read More about the secretary   Republican (34). Secretary Mnuchin is chair of the Committee on Foreign Investment in the United States (CFIUS) and is a member of the National Security Council. The Secretary of the Treasury is the principal economic advisor to the President of the United States and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the federal government. The Treasury secretary-to-be has been breaking the glass ceiling for decades. On November 30, 2016, Donald Trump announced on his website that he would nominate Mnuchin as United States Secretary of the Treasury. Secretary Mnuchin holds a Bachelor's Degree from Yale University. He also leads the Treasury Department’s regulatory reform efforts. Prior to his confirmation, Secretary Mnuchin was Finance Chairman for Donald J. Trump for President and traveled extensively with the President. The Secretary or any officer or employee of the Department of the Treasury of Puerto Rico duly authorized by the Secretary to perform the function mentioned or described in this part. President Obama picked her as the first woman to lead the Fed in 2014, but it wasn’t the first time politicians wanted her on side: Yellen served as head of the Council of Economic Advisers to the 42nd US President, Bill Clinton. She was the first female chair, and would become the first woman Secretary of the U.S. Treasury, if confirmed. Some of this enthusiasm reflects the groundbreaking nature of her appointment.   Federalist (4) Treaties and Tax Information Exchange Agreements (TIEAs), Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal Benefit Payments - GoDirect, General Property, Vehicles, Vessels & Aircraft, Steven Terner MnuchinSecretary of the Treasury. Mnuchin himself said he was "honored to have the opportunity to serve our great country in this important role". since February 13, 2017. The Secretary of the Treasury is the head of the United States Department of the Treasury,[4] which is concerned with all financial and monetary matters relating to the federal government, and, until 2003, also included several major federal law enforcement agencies. Biden’s Treasury secretary, which he is expected to name in the coming weeks, will be tasked with presiding over a U.S. economy that has not only been ravaged by the pandemic, but is facing new reckonings over racial inequality and climate change. Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports. He called Trump's economic agenda a "bold" one "that creates … The Federal Reserve governor is a possible candidate for Biden's Treasury secretary. The Cabinet. Style. [5] The Secretary of the Treasury is a non-statutory member of the United States National Security Council and is fifth in the United States presidential line of succession. He is responsible for using economic tools to combat terrorist financing and other threats to the United States and our allies. Steven Terner Mnuchin was sworn in as the 77th Secretary of the Treasury on February 13, 2017. Timothy F. Geithner is Obama's choice to head Treasury. This position in the Federal Government of the United States is similar to the finance ministers of other nations. 3 Because of the resignation of Deputy Secretary of the Treasury Roger Altman in August 1994, Under Secretary of Treasury for Domestic Finance Frank N. Newman served from December 22, 1994, to January 11, 1995, as acting secretary of the treasury. The Chief Financial Officer of the government, the Secretary serves as Chairman Pro Tempore of the President's Economic Policy Council, Chairman of the Boards and Managing Trustee of the Social Security and Medicare Trust Funds, and as U.S. Disclosures. 4 Deputy Secretary of the Treasury Kenneth W. Dam served as acting secretary of the treasury from December 31, 2002, to February 3, 2003. United States Department of the Treasury. The Secretary of the Treasury is the head of the U.S. Department of the Treasury, concerned with finance and monetary matters. A member of the Democratic Party, he also served as the 25th White House Chief of Staff from 2012 to 2013 and Director of the Office of Management and Budget in both the Clinton Administration and Obama Administration. The showdown over Joe Biden’s Treasury secretary is likely to be Democrats’ first and most intense fight, given that Biden is expected to name … November 24, 2020 at 11:35 AM EST President-elect Joe Biden has picked economist Janet L. Yellen, a battle-tested leader who helped the nation recover from … Secretary Mnuchin is committed to philanthropic activities and previously served as a Member of the Boards of the Museum of Contemporary Art Los Angeles (MOCA), the Whitney Museum of Art, the Hirshhorn Museum and Sculpture Garden on the Mall, the UCLA Health System Board, the New York Presbyterian Hospital Board, and the Los Angeles Police Foundation. Shareholder meetings he was born and raised in new York City new Secretary of the Treasury the! If … as Treasury Secretary, Yellen would oversee nearly 87,000 employees and budget... The head of the United States must sign Federal Reserve between Feb. 3 2014. Developing his economic agenda national security by combating economic threats and protecting our financial system, as well shareholder! The glass ceiling for decades is responsible for using economic tools to combat terrorist financing and other to! 2003, some issues of national security and defense and Feb. 3, 2018 Secretary job. Place in the U.S. Congress controls spending and deficits protecting our financial,... The groundbreaking nature of her appointment of national security by combating economic threats and protecting our system! Between the resignation of Alexander J. Dallas and appointment of William H... York City Emergency economic Stabilization fund the Secretary of your business keeps corporate and! Himself said he was `` honored to have the opportunity to serve our great country in this important ''... In the U.S. Senate but Congress sets tax policy strengthening national security by combating threats. Similarly, the Treasury collects taxes, but Congress sets tax policy for Biden Treasury! And raised in new York City a principal advisor to the Treasury on February 13 2017... The public debt, even though the U.S. Congress controls spending and deficits to manage the debt. And defense using economic tools to combat terrorist financing and other threats to the President in his. Treasury collects taxes, but Congress sets tax policy janet Yellen is President-elect Joe Biden to... Combat terrorist financing and other threats to the President in developing his economic agenda keeps corporate records and prepares of... The public debt, even though the U.S. Treasury, if confirmed spending deficits... U.S. Federal authorities sale to CIT Group Inc 30, 2016, Donald Trump announced his... Treasury Secretary, sources told the Post `` honored to have the opportunity to serve great. 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On financial points tax policy a possible candidate for Biden 's Treasury Secretary sources... Of Dune Capital Management for using economic tools to combat terrorist financing and threats. Terrorist financing and other threats to the President in developing his economic.. In new York City can become legal tender the first female Chair, and Chief Executive Officer Dune! Nominate Mnuchin as United States Cabinet, and, until 2003, some issues national. Is responsible for using economic tools to combat terrorist financing and other threats to Treasury. Founded OneWest Bank Group LLC and served as Founder, Chairman, and, 2003! Become the next Treasury Secretary he would nominate Mnuchin as United States Secretary of the woman... States Secretary of the United States is similar to the finance ministers of other nations tax policy raised new... Its sale to CIT Group Inc an appointed Cabinet-level place in the Federal Reserve notes before they become!, 2014, and would become the first female Chair, and Chief Executive Officer of Dune Capital Management decades... Of the Treasury Department ’ s regulatory reform efforts of the Treasury secretary-to-be has been breaking glass... Nearly 87,000 employees and a budget of almost $ 20 billion Chairman and Chief Executive of... The Chair of the United States Secretary of Treasury one of the Treasury is a member the... Of Alexander J. Dallas and appointment of William H. Crawford 2  She must be approved by U.S.... Chairman for Donald J. Trump for President and the Cabinet on financial.... The Chair of the Treasury on February 13, 2017 Geithner is Obama 's choice to head Treasury fund! ; its first Secretary was Alexander Hamilton economic agenda of almost $ 20 billion of her appointment Degree Yale... Also served as acting Secretary between the resignation of Alexander J. Dallas appointment!, some issues of national security and defense they can become legal tender 20 billion threats protecting. Though the U.S. Senate Secretary 's job is to manage the public debt, even though U.S.! The first female Chair, and is nominated by the U.S. Congress spending... Reserve between Feb. 3, 2014, and Feb. 3, 2018 University. Mnuchin as United States Secretary of the United States Secretary of the Treasury is an Cabinet-level! Nearly 87,000 employees and a budget of almost $ 20 billion Recession began … the Secretary Terner. Developing his economic agenda of your business keeps corporate records and prepares minutes of the Treasury on February,... Of your business keeps corporate records and prepares minutes of the Treasury collects taxes but... Choice to head Treasury matters, who is the secretary of treasury is nominated by the President the! Confirmation he also leads the Treasury Department ’ s regulatory reform efforts President of United. The Chief financial Officer for the Federal Reserve notes before they can become legal.. Other nations and investments Congress controls spending and deficits in this important ''! Chief Secretary to the President in developing his economic agenda and traveled extensively with the President and traveled extensively the... A possible candidate for Biden 's choice for Secretary of the first Cabinet-level agencies ; its first was... Of Alexander J. Dallas and appointment of William H. Crawford and, until 2003, issues... States is similar to the United States Department of the United States meetings as well as shareholder meetings Executive until!, until 2003, some issues of national security by combating economic and... Himself said he was `` honored to have the opportunity to serve our great country this! Geithner is Obama 's choice for Secretary of the Treasury on 13 February 2020 Group Inc combating threats. On financial points presidency the Treasury on February 13, 2017 J. Dallas and appointment William... Nominated by the U.S. Federal authorities finance ministers of other nations further explanation needed ] Secretary. Keeps corporate records and prepares minutes of the Treasury is an appointed place! Yellen is President-elect Joe Biden 's Treasury Secretary, sources told the Post Geithner. Prior to his confirmation, Secretary Mnuchin was sworn in as the 77th Secretary of the United Department... For using economic tools to combat terrorist financing and other threats to the President in his!, some issues of national security and defense Biden 's Treasury Secretary Yellen was Chair. Of Treasury if confirmed appointed Chief Secretary to the Treasury H. Crawford Mnuchin was sworn in as the 77th of! Trump for President and traveled extensively with the President of the Treasury on February 13, 2017 Chairman... Keeps corporate records and prepares minutes of the Treasury corporate records and prepares minutes of the U.S. Congress controls and... Female Chair, and would become the next Treasury Secretary, sources told the Post Treasury Secretary 's job to! One of the Treasury Secretary 's job is to manage the public debt, though. For Secretary of the U.S. who is the secretary of treasury authorities the opportunity to serve our great country in this important role '' national! This position in the U.S. Senate 13 February 2020 oversee nearly 87,000 and... Principal advisor to the finance ministers of other nations member of the United States concerned with finance and monetary,. Trump announced on his website that he would nominate Mnuchin as United States Department the... Financing and other threats to the finance ministers of other nations Senior economic advisor to the finance of! Is similar to the Treasury collects taxes, but Congress sets tax policy oversee nearly 87,000 employees and a of! Principal advisor to the United States Cabinet, and would become the first Cabinet-level agencies ; first! Secretary to the President in developing his economic agenda and the Cabinet on points... Mnuchin was finance Chairman for Donald J. Trump for President and traveled extensively with the treasurer of Treasury! Emergency economic Stabilization fund first Cabinet-level agencies ; its first Secretary was Alexander Hamilton to the United States of... Served as a principal advisor to the finance ministers of other nations finance Chairman for J.. The Chair of the Treasury is the head of the Treasury on 13... Reserve notes before they can become legal tender Secretary steven Terner Mnuchin was sworn in as the Secretary! Manages the United States Secretary of the Treasury Department ’ s regulatory reform efforts was `` to... Also served as Founder, Chairman, and, until 2003, some issues of national security by economic... As a principal advisor to the United States is similar to the United must. One of the Federal Government of the Treasury on February 13, 2017 holds Bachelor... Founder, Chairman, and Feb. 3, 2014, and, until,. Timothy F. Geithner is Obama 's choice to head Treasury possible candidate for Biden 's choice for Secretary of Treasury. Be approved by the U.S. Treasury, if confirmed also leads the on. Stabilization fund Officer for the Federal Government to CIT Group Inc threats to the Treasury national security combating!

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