DEFINITION of 'Treasury Secretary'

The Secretary of the Treasury is a member of the Presidential cabinet. This person is the acting head of the Department of the Treasury, and deals with all financial and monetary matters directly relating to the government. The secretary is the principal economic advisor of the President and plays a major role in formulating economic policy.

BREAKING DOWN 'Treasury Secretary'

The Secretary of the Treasury position is roughly equivalent to the finance minister post found in many foreign governments. In 2003, a number of agencies were split away from the Department of the Treasury and reassigned to the Department of Homeland Security. The Bureau of Alcohol, Tobacco and Firearms, Customs Service and the Secret Service were among those sent over.

The Treasury Secretary is fifth in the presidential line of succession

RELATED TERMS
  1. U.S. Treasury

    Created in 1798, the United States Department of the Treasury ...
  2. Monetary Accord Of 1951

    A 1951 agreement between the U.S. Secretary of the Treasury and ...
  3. Treasury Yield

    The return on investment, expressed as a percentage, on the debt ...
  4. Treasury General Account

    The general checking account used by the Department of the Treasury. ...
  5. Treasury Direct

    The online market where investors can purchase federal government ...
  6. 30-Year Treasury

    A U.S. Treasury debt obligation that has a maturity of 30 years. ...
Related Articles
  1. Insights

    What Are the Duties of the Treasury Secretary?

    The Secretary of the Treasury is one of the most powerful positions in the U.S. federal government.
  2. Insights

    What Are the Duties of the US Secretary of Labor?

    The position of US Secretary of Labor is a Cabinet-level post. What exactly does he or she do exactly?
  3. Insights

    What Does the U.S. Secretary of Commerce Do?

    The Commerce Secretary overseas a vast business and commerce engine that drives the U.S. economy.
  4. Insights

    What Does the Secretary of Energy Do?

    There's more to this cabinet position than championing the American oil and gas industry.
  5. Investing

    What Does the HUD Secretary Do?

    The HUD is responsible for the living conditions of millions of Americans.
  6. Investing

    The Treasury And The Federal Reserve

    Find out how these two agencies create policies to stimulate the economy in tough economic times.
  7. Investing

    What is Treasury Stock?

    Treasury stock is a company’s own stock that it holds in its treasury for later use.
  8. Investing

    Understanding Treasury Yield

    Treasury yield refers to the return on an investment in a U.S. government debt obligation, such as a bill, note or bond.
  9. Investing

    The Importance Of U.S. Treasury Rates

    U.S. Treasury bond interest rates affect more than just bondholders! It impacts the day to day lives of all consumers.
RELATED FAQS
  1. What are the economic impacts of specialization?

    Read about the economic impacts of specialization and the division of labor, and see why individuals, firms and even countries ... Read Answer >>
  2. Which economic factors impact treasury yields?

    Discover the economic factors that impact Treasury yields. Treasury yields are the benchmark yield for the rest of the world, ... Read Answer >>
  3. Why are treasury bond yields important to investors of other securities?

    Learn about the wide-ranging impact of U.S. Treasury Bond yields on all other interest-bearing instruments in the economy ... Read Answer >>
  4. How are treasury bills taxed?

    Read about how the Internal Revenue Service collects taxes on treasury bills purchased from the United States government ... Read Answer >>
Hot Definitions
  1. Stop-Loss Order

    An order placed with a broker to sell a security when it reaches a certain price. A stop-loss order is designed to limit ...
  2. Acid-Test Ratio

    A stringent indicator that indicates whether a firm has sufficient short-term assets to cover its immediate liabilities. ...
  3. Floating Exchange Rate

    A country's exchange rate regime where its currency is set by the foreign-exchange market through supply and demand for that ...
  4. Taxes

    An involuntary fee levied on corporations or individuals that is enforced by a level of government in order to finance government ...
  5. Impaired Asset

    A company's asset that is worth less on the market than the value listed on the company's balance sheet. This will result ...
  6. Solvency Ratio

    One of many ratios used to measure a company's ability to meet long-term obligations. The solvency ratio measures the size ...
Trading Center