United States Secretary of the Treasury

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The Secretary of the Treasury is a Cabinet member charged with developing fiscal policy for the United States of America and overseeing the Department of the Treasury. The position was established in 1789, giving it the distinction of being one of the two oldest Cabinet positions.[1] The first and most influential secretary was Alexander Hamilton (1789-1794), who established the new nation's finances on a sound bases, and to provide political support created the world's first voter-based political party, the Federalist Party, using the Treasury's national network of supporters.

The Secretary shares with the Chairman of the Federal Reserve System the status as the most powerful decision-maker in financial policy.[2]

In most countries this position is generally known as the Minister of Finance; Britain calls it the Chancellor of the Exchequer. The Secretary is fifth in the line of succession to the Presidency. The current Secretary is Timothy F. Geithner.


See also

Notes

  1. DOI history. Department of the Interior. Retrieved on 2007-11-17.
  2. The "Treasurer of the United States" is a separate position, mostly honorific and without power. The Treasurer and Secretary both have their signature on paper currency.