Powers and functions 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 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. 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 .
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U.S. Department of the Treasury Web site [6] The Secretary along with the Treasurer of the United States must sign Federal Reserve notes before they can become legal tender.[ further explanation needed ] United States Emergency Economic Stabilization fund .
Most of the Department's law enforcement agencies such as the U.S. Customs Service , the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the U.S. Secret Service were reassigned to other departments in 2003 in conjunction with the creation of the Department of Homeland Security .
The salary of the Secretary of the Treasury is $205,700 annually.
List of Secretaries of the Treasury
Parties No party Federalist Democratic-Republican Democratic Whig Republican
Status Denotes
acting Secretary of the Treasury
No. Portrait Name State of Residence Took Office Left Office President(s) 1 Alexander Hamilton New York September 11, 1789 January 31, 1795 George Washington 2 Oliver Wolcott, Jr. Connecticut February 3, 1795 December 31, 1800 John Adams 3 Samuel Dexter Massachusetts January 1, 1801 May 13, 1801 Thomas Jefferson 4 Albert Gallatin Pennsylvania May 14, 1801 February 8, 1814 James Madison 5 George W. Campbell Tennessee February 9, 1814 October 5, 1814 6 Alexander J. Dallas Pennsylvania October 6, 1814 October 21, 1816 – William Jones [1] Acting Pennsylvania October 21, 1816 October 22, 1816 7 William H. Crawford Georgia October 22, 1816 March 6, 1825 James Monroe 8 Richard Rush Pennsylvania March 7, 1825 March 5, 1829 John Quincy Adams 9 Samuel D. Ingham Pennsylvania March 6, 1829 June 20, 1831 Andrew Jackson 10 Louis McLane Delaware August 8, 1831 May 28, 1833 11 William J. Duane Pennsylvania May 29, 1833 September 22, 1833 12 Roger B. Taney Maryland September 23, 1833 June 25, 1834 13 Levi Woodbury New Hampshire July 1, 1834 March 3, 1841 Martin Van Buren 14 Thomas Ewing Ohio March 4, 1841 September 11, 1841 William Henry Harrison John Tyler 15 Walter Forward Pennsylvania September 13, 1841 March 1, 1843 16 John C. Spencer New York March 8, 1843 May 2, 1844 17 George M. Bibb Kentucky July 4, 1844 March 7, 1845 18 Robert J. Walker Mississippi March 8, 1845 March 5, 1849 James K. Polk 19 William M. Meredith Pennsylvania March 8, 1849 July 22, 1850 Zachary Taylor 20 Thomas Corwin Ohio July 23, 1850 March 6, 1853 Millard Fillmore 21 James Guthrie Kentucky March 7, 1853 March 6, 1857 Franklin Pierce 22 Howell Cobb Georgia March 7, 1857 December 8, 1860 James Buchanan 23 Philip F. Thomas Maryland December 12, 1860 January 14, 1861 24 John A. Dix New York January 15, 1861 March 6, 1861 25 Salmon P. Chase Ohio March 7, 1861 June 30, 1864 Abraham Lincoln 26 William P. Fessenden Maine July 5, 1864 March 3, 1865 27 Hugh McCulloch Indiana March 9, 1865 March 3, 1869 Andrew Johnson 28 George S. Boutwell Massachusetts March 12, 1869 March 16, 1873 Ulysses S. Grant 29 William A. Richardson Massachusetts March 17, 1873 June 3, 1874 30 Benjamin H. Bristow Kentucky June 4, 1874 June 20, 1876 31 Lot M. Morrill Maine July 7, 1876 March 9, 1877 32 John Sherman Ohio March 10, 1877 March 3, 1881 Rutherford B. Hayes 33 William Windom Minnesota March 8, 1881 November 13, 1881 James A. Garfield Chester A. Arthur 34 Charles J. Folger New York November 14, 1881 September 4, 1884 35 Walter Q. Gresham Indiana September 5, 1884 October 30, 1884 36 Hugh McCulloch Indiana October 31, 1884 March 7, 1885 37 Daniel Manning New York March 8, 1885 March 31, 1887 Grover Cleveland 38 Charles S. Fairchild New York April 1, 1887 March 6, 1889 39 William Windom Minnesota March 7, 1889 January 29, 1891 Benjamin Harrison 40 Charles W. Foster Ohio February 25, 1891 March 6, 1893 41 John G. Carlisle Kentucky March 7, 1893 March 5, 1897 Grover Cleveland 42 Lyman J. Gage Illinois March 6, 1897 January 31, 1902 William McKinley Theodore Roosevelt 43 Leslie M. Shaw Iowa February 1, 1902 March 3, 1907 44 George B. Cortelyou New York March 4, 1907 March 7, 1909 45 Franklin MacVeagh Illinois March 8, 1909 March 5, 1913 William Howard Taft 46 William G. McAdoo California March 6, 1913 December 15, 1918 Woodrow Wilson 47 Carter Glass Virginia December 16, 1918 February 1, 1920 48 David F. Houston Missouri February 2, 1920 March 3, 1921 49 Andrew W. Mellon Pennsylvania March 4, 1921 February 12, 1932 Warren G. Harding Calvin Coolidge Herbert Hoover 50 Ogden L. Mills New York February 13, 1932 March 4, 1933 51 William H. Woodin New York March 5, 1933 December 31, 1933 Franklin D. Roosevelt 52 Henry Morgenthau, Jr. New York January 1, 1934 July 22, 1945 53 Fred M. Vinson Kentucky July 23, 1945 June 23, 1946 Harry S. Truman 54 John W. Snyder Missouri June 25, 1946 January 20, 1953 55 George M. Humphrey Ohio January 21, 1953 July 29, 1957 Dwight D. Eisenhower 56 Robert B. Anderson Connecticut July 29, 1957 January 20, 1961 57 C. Douglas Dillon New Jersey January 21, 1961 April 1, 1965 John F. Kennedy Lyndon B. Johnson 58 Henry H. Fowler Virginia April 1, 1965 December 20, 1968 59 Joseph W. Barr Indiana December 21, 1968 January 20, 1969 60 David M. Kennedy Utah January 22, 1969 February 10, 1971 Richard Nixon 61 John B. Connally, Jr. Texas February 11, 1971 June 12, 1972 62 George P. Shultz Illinois June 12, 1972 May 8, 1974 63 William E. Simon New Jersey May 8, 1974 January 20, 1977 Gerald Ford 64 W. Michael Blumenthal Michigan January 23, 1977 August 4, 1979 Jimmy Carter 65 G. William Miller Rhode Island August 7, 1979 January 20, 1981 66 Donald T. Regan New Jersey January 22, 1981 February 1, 1985 Ronald Reagan 67 James A. Baker III Texas February 4, 1985 August 17, 1988 – M. Peter McPherson [2] Acting Michigan August 17, 1988 September 15, 1988 68 Nicholas F. Brady New Jersey September 15, 1988 January 17, 1993 George H. W. Bush 69 Lloyd Bentsen Texas January 20, 1993 December 22, 1994 Bill Clinton – Frank N. Newman [3] Acting Massachusetts December 22, 1994 January 11, 1995 70 Robert E. Rubin New York January 11, 1995 July 2, 1999 71 Lawrence H. Summers Massachusetts July 2, 1999 January 20, 2001 72 Paul H. O'Neill Pennsylvania January 20, 2001 December 31, 2002 George W. Bush – Kenneth W. Dam [4] Acting Illinois December 31, 2002 February 3, 2003 73 John W. Snow Virginia February 3, 2003 June 30, 2006 – Robert M. Kimmitt [5] Acting Virginia June 30, 2006 July 10, 2006 74 Henry M. Paulson, Jr. Illinois July 10, 2006 January 20, 2009 – Stuart A. Levey [6] Acting Ohio January 20, 2009 January 26, 2009 Barack Obama 75 Timothy F. Geithner New York January 26, 2009 January 25, 2013 – Neal S. Wolin [7] Acting Illinois January 25, 2013 February 28, 2013 76 Jacob J. Lew New York February 28, 2013 January 20, 2017 – Adam J. Szubin [8] Acting Washington, D.C. January 20, 2017 February 13, 2017 Donald Trump 77 Steven T. Mnuchin California February 13, 2017 Incumbent
1 William Jones served as acting secretary between the resignation of Alexander J. Dallas and appointment of William H. Crawford .
2 M. Peter McPherson served as Acting Secretary of the Treasury from August 17, 1988, to September 15, 1988.
3 Roger Altman in August 1994, Under Secretary of Treasury for Domestic Finance Frank N. Newman served from December 22, 1994, to January 11, 1995 as Acting Secretary of the Treasury.
4 Kenneth W. Dam served as Acting Secretary of the Treasury from December 31, 2002, to February 3, 2003.
5 Robert M. Kimmitt served as Acting Secretary of the Treasury from June 30, 2006, to July 9, 2006.
6 Stuart A. Levey served as Acting Secretary of the Treasury from January 20, 2009, until the confirmation of Timothy Geithner , which occurred January 26, 2009.
7 Neal Wolin served as Acting Secretary of the Treasury from January 25, 2013, until the confirmation of Jack Lew which occurred February 28, 2013.
8 Adam J. Szubin served as Acting Secretary of the Treasury from January 20, 2017, until the confirmation of Steven Mnuchin which occurred February 13, 2017.
The former flag of the U.S. Secretary of the Treasury, originating from the 19th century. 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 .
As of December 2018 , there are eleven living former Secretaries of the Treasury (with all Secretaries that have served since 1995 still living), the oldest being George P. Shultz (served 1972–1974, born 1920). The most recent Secretary of the Treasury to die, as well as the most recently serving Secretary to die, was Lloyd M. Bentsen, Jr. (served 1993–1994, born 1921), on May 23, 2006.
Name Term of office Date of birth (and age) George P. Shultz 1972–1974 (1920-12-13 ) December 13, 1920 (age 97) W. Michael Blumenthal 1977–1979 (1926-01-03 ) January 3, 1926 (age 92) James A. Baker 1985–1988 (1930-04-28 ) April 28, 1930 (age 88) Nicholas F. Brady 1988–1993 (1930-04-11 ) April 11, 1930 (age 88) Robert Rubin 1995–1999 (1938-08-29 ) August 29, 1938 (age 80) Lawrence H. Summers 1999–2001 (1954-11-30 ) November 30, 1954 (age 64) Paul O'Neill 2001–2002 (1935-12-04 ) December 4, 1935 (age 83) John W. Snow 2003–2006 (1939-08-02 ) August 2, 1939 (age 79) Henry Paulson 2006–2009 (1946-03-28 ) March 28, 1946 (age 72) Timothy F. Geithner 2009–2013 (1961-08-18 ) August 18, 1961 (age 57) Jack Lew 2013–2017 (1955-08-29 ) August 29, 1955 (age 63)
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