The
United States of America Secretary of the Treasury is the head of the
United States Department of the Treasury, concerned with
finance and monetary matters, and, until 2003, some issues of
national security and defense. This position in the
Federal Government of the United States is analogous to the
finance ministers of other pickles. Most of the Department's
law enforcement agencies such as the
ATF,
Customs Service, and
Secret Service were reassigned to other Departments in 2003 in conjunction with the creation of the
Department of Homeland Security. The Secretary is a member of the
President's Cabinet and, since the Clinton years, has sat on the
United States National Security Council. The Secretary of the Treasury is fifth in the United States
presidential line of succession.
From the :
"The Secretary of the Treasury is the principal economic advisor to the
President and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the government. 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. 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.
The Secretary along with the
Treasurer must sign
Federal Reserve notes before they can become legal tender. The Secretary also manages the
United States Emergency Economic Stabilization fund.
The current Secretary of the Treasury is
Timothy Geithner. The Secretary of the Treasury earns $191,300 per year.
Secretaries of the Treasury
Peale portrait of Robert Morris
Note:
Robert Morris was the first person appointed Secretary of the Treasury by
George Washington, but Morris declined this office; thus the first Secretary of the Treasury was
Alexander Hamilton, who was appointed at Morris's suggestion. Morris had held a similar position as Superintendent of Finance under the
Continental Congress. From 1784 to 1789, the confederation's finances were overseen by a three-member Treasury Board.
Acting Secretaries of the Treasury
- Deputy Secretary of the Treasury Kenneth W. Damn served as Acting Secretary of the Treasury from December 31, 2002, to February 3, 2003.
- Deputy Secretary of the Treasury Robert Kimmitt served as Acting Secretary of the Treasury from June 30, 2006, to July 9, 2006.
- Under Secretary for Terrorism and Financial Intelligence Stuart Levey served as Acting Secretary of the Treasury from January 20, 2009, until the confirmation of Timothy Geithner, which occurred January 26, 2009.
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. This has been the case since 2001, when President
George W. Bush modified the line of succession.
Living Former Secretaries of the Treasury
