At any time when the secretary and the deputy secretary of the treasury have both died, resigned, or cannot serve as secretary for other reasons, the order designates which Treasury officers are next in line to serve as acting secretary. On August 16, 2016, President Barack Obama signed Executive Order 13735, which changed the order of succession for filling the Treasury Secretary's role when necessary. The secretary of the treasury is fifth in the presidential line of succession, following the secretary of state and preceding the secretary of defense. 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.ĭenotes an acting secretary of the treasury No.įormer flag of the Secretary of the Treasury, originating from the 19th century. 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. 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 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 current secretary of the treasury is Janet Yellen, who is the first woman to hold the office. The secretary of state, the secretary of the treasury, the secretary of defense, and the attorney general are generally regarded as the four most important Cabinet officials, due to the size and importance of their respective departments. residents' foreign financial assets and liabilities, was -16.12 trillion at the end of the fourth quarter of 2022, according to statistics released today by the U.S. Under the Appointments Clause of the United States Constitution, the officeholder is nominated by the president of the United States, and, following a confirmation hearing before the Senate Committee on Finance, is confirmed by the United States Senate. net international investment position, the difference between U.S. The secretary is, by custom, a member of the president's cabinet and, by law, a member of the National Security Council. The secretary of the treasury serves as the principal advisor to the president of the United States on all matters pertaining to economic and fiscal policy. The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States.
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