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The secretary of the treasury is the head of the United States Department of the Treasury, 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. 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 secretary of the treasury is a member of the United States Cabinet, and is nominated by the president of the United States. Nominees for Secretary of the Treasury undergo a confirmation hearing before the United States Senate Committee on Finance, prior to a vote by the United States Senate. 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.''Cabinets and Counselors: The President and the Executive Branch'' (1997). Congressional Quarterly. p. 87. The secretary of the treasury is a statutory member of the United States National Security Council and is fifth in the United States presidential line of succession. Secretary of the Treasury is a Level I position in the Executive Schedule and thus earns the salary prescribed for that level (US$221,400, as of January 2021). The current secretary of the treasury is Janet Yellen. She is the first woman to hold the post.

Powers and functions

The secretary along with the treasurer of the United States must sign Federal Reserve notes before they can become legal tender. The secretary also manages the United States Emergency Economic Stabilization fund. 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.

List of secretaries of the treasury

; Parties (1) (4) (4) (29) (5) (34) Status William Jones served as acting secretary between the resignation of Alexander J. Dallas and appointment of William H. Crawford. Deputy Secretary of the Treasury M. Peter McPherson served as acting secretary of the treasury from August 17, 1988, to September 15, 1988. 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. Deputy Secretary of the Treasury Kenneth W. Dam served as acting secretary of the treasury from December 31, 2002, to February 3, 2003. Deputy Secretary of the Treasury Robert M. Kimmitt served as acting secretary of the treasury from June 30, 2006, to July 9, 2006. 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. 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. 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. Deputy Assistant Secretary for Monetary Policy Andy Baukol served as acting secretary of the treasury from January 20, 2021, until the confirmation of Janet Yellen occurred on January 25, 2021. 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. 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.

Living former secretaries of the treasury

As of , there are ten living former secretaries of the treasury (with all secretaries that have served since 2003 still living), the oldest being W. Michael Blumenthal (served 1977–1979, born 1926). The most recent secretary of the treasury to die was George Shultz (served 1972–1974, born 1920) on February 6, 2021. The most recently serving secretary to die was Paul H. O'Neill (served 2001–2002, born 1935), on April 18, 2020.

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References

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External links

* |- {{DEFAULTSORT:United States Secretary Of The Treasury Treasury Treasury, Secretary of the Secretary Category:1789 establishments in the United States