The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States,where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and the U.S. Mint. These two agencies are responsible for printing all paper currency and minting coins,while the treasury executes currency circulation in the domestic fiscal system. It collects all federal taxes through the Internal Revenue Service;manages U.S. government debt instruments;licenses and supervises banks and thrift institutions;and advises the legislative and executive branches on matters of fiscal policy. The department is administered by the secretary of the treasury,who is a member of the Cabinet. The treasurer of the United States has limited statutory duties,but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes.
Janet Louise Yellen is an American economist serving as the 78th United States secretary of the treasury. She was appointed to the role on January 26,2021. She previously served as the 15th chair of the Federal Reserve from 2014 to 2018. She is the first woman to hold either post,and has also led the White House Council of Economic Advisers. Yellen is the Eugene E. and Catherine M. Trefethen Professor of Business Administration and Economics at the University of California,Berkeley.
Jacob Joseph Lew is an American attorney and diplomat serving as the United States ambassador to Israel. He was the seventy-sixth United States secretary of the treasury from 2013 to 2017. A member of the Democratic Party,he also served as the twenty-fifth White House chief of staff from 2012 to 2013 and as director of the Office of Management and Budget in both the Clinton administration and Obama administration.
Anne Melissa Milgram is an American attorney and academic who currently serves as Administrator of the Drug Enforcement Administration (DEA) since 2021. She previously served as the 57th Attorney General of New Jersey from 2007 to 2010.
Lael Brainard is an American economist serving as the 14th director of the National Economic Council since February 21,2023. She previously served as the 22nd vice chair of the Federal Reserve between May 2022 and February 2023. Prior to her term as vice chair,Brainard served as a member of the Federal Reserve Board of Governors,taking office in 2014. Before her appointment to the Federal Reserve,she served as the under secretary of the treasury for international affairs from 2010 to 2013.
Carried interest,or carry,in finance,is a share of the profits of an investment paid to the investment manager specifically in alternative investments. It is a performance fee,rewarding the manager for enhancing performance. Since these fees are generally not taxed as normal income,some believe that the structure unfairly takes advantage of favorable tax treatment,e.g. in the United States.
Michael S. Barr is an American legal scholar who has been serving as second vice chair of the Federal Reserve for supervision since 2022. From 2009 to 2011,he was assistant secretary of the treasury for financial institutions under President Barack Obama. At the University of Michigan,he has been serving as faculty member since 2001,professor of law since 2006,professor of public policy since 2014.
Sarah Bloom Raskin is an American attorney and financial markets policymaker who served as the 13th United States Deputy Secretary of the Treasury from 2014 to 2017. Raskin previously served as a member of the Federal Reserve Board of Governors from 2010 to 2014. She also was Maryland Commissioner of Financial Regulation. She was a Rubenstein Fellow at Duke University. She is currently the Colin W. Brown Distinguished Professor of the Practice of Law at Duke Law School. She is also a Senior Fellow at the Duke Center on Risk. She also serves as a Partner at Kaya Partners,Ltd.,a climate advisory firm.
Alison Julie Nathan is an American lawyer who has served as a United States circuit judge of the United States Court of Appeals for the Second Circuit since 2022. She served as a United States district judge of the United States District Court for the Southern District of New York from 2011 to 2022. She previously served as associate White House counsel for President Barack Obama.
The Assistant Secretary of the Treasury for Economic Policy is the head of the Office of Economic Policy in the United States Department of the Treasury. The position is held by Ben Harris. President Joe Biden announced he would nominate Ben Harris to the role on March 11,2021. Harris was confirmed by the Senate on November 3,2021 and sworn in on November 15,2021
Betsey Ayer Stevenson is an economist and Professor of Economics and Public Policy at the University of Michigan Gerald R. Ford School of Public Policy. Additionally,she is a fellow of the Ifo Institute for Economic Research in Munich,a research associate at the National Bureau of Economic Research and servers on the board of the American Economic Association. The Obama Administration announced her appointment as a Member of the Council of Economic Advisers,a post she served from 2013 through 2015. She previously served as Chief Economist of the U.S. Department of Labor under Secretary Hilda Solis from 2010 to 2011. Previously,she was an assistant professor of Business and Public Policy,at the Wharton School of the University of Pennsylvania.
Nancy Christine Staudt is the Frank and Marcia Carlucci Dean of the Pardee RAND Graduate School and the Vice President of Innovation at RAND Corporation. She is a scholar in tax,tax policy,and empirical legal studies.
Michael J. Desmond is an American tax attorney and former federal government official. He previously served as the 48th Chief Counsel of the U.S. Internal Revenue Service (IRS) and Assistant General Counsel in the Department of the Treasury. He was confirmed by the Senate on February 27,2019 and began serving as Chief Counsel on March 4,2019. Shortly before the Inauguration of Joe Biden,Desmond resigned from his position as Chief Counsel effective January 20,2021,succeeded by Acting Chief Counsel William M. Paul.
Kimberly Clausing is an American economist. She is the Eric M. Zolt Chair in Tax Law and Policy at the UCLA School of Law and a nonresident senior fellow at the Peterson Institute for International Economics. From 2021 to 2022,she was the deputy assistant secretary for tax analysis at the United States Department of the Treasury. Clausing is known for her work on international trade and tax policy,particularly the taxation of multinational corporations.
Donald Cyril Lubick was an American attorney and tax policy expert. He served every Democratic President—from John F. Kennedy to Barack Obama—and was the Assistant Secretary for Tax Policy at the Department of the Treasury under both President Carter and President Clinton.
Sharon Block is an American attorney,government official,labor policy advisor and law professor who served during the Biden administration as the Associate Administrator delegated the duties of the Administrator of the Office of Information and Regulatory Affairs from January 20,2021,to February 1,2022. During the Obama administration,Block served on the National Labor Relations Board and in the United States Department of Labor and the White House. She currently serves as a professor of practice and the executive director of the Labor and Worklife Program at Harvard Law School.
Melissa Erica Murray is an academic and legal scholar who is the Frederick I. and Grace Stokes Professor of Law at NYU Law,where she has been a member of the faculty since July 1,2018. Murray was previously the interim dean of the UC Berkeley School of Law.
Elizabeth Rosenberg is a former American government official who served as Assistant Secretary of the Treasury for Terrorist Financing in the Biden administration,having been confirmed on December 18,2021,by the United States Senate.
Graham Scott Steele is an American attorney,policy advisor,and government official. In July 2021,Steele was nominated by President Joe Biden to serve as Assistant Secretary of the Treasury for Financial Institutions. He was confirmed by the Senate and served in the position until January 2024.
