The Department of the Treasury is the national treasury of the federal government of the United States. The department oversees the Bureau of Engraving and Printing, and the U.S. Mint. The current secretary of the treasury is Jovita Carranza, appointed on April 28, 2017, who was the incumbent treasurer, until January 15, 2020. Janet Yellen has been appointed as the new US Treasury Secretary as of 26 January, 2021.
About United States Department of the Treasury in brief
The Department of the Treasury is the national treasury of the federal government of the United States. 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 coins, while the treasury executes its circulation in the domestic fiscal system. Janet Yellen has been appointed as the new US Treasury Secretary as of 26 January, 2021. The office is customarily referred to as “Treasury”, solely, without any preceding article, as a remnant of the country’s transition from British to American English during the late 18th century. The current secretary of the treasury is Jovita Carranza, appointed on April 28, 2017, who was the incumbent treasurer, until January 15, 2020, when she left the office. The Treasury Office of Accounts, consisting of an auditor general and clerks, was established on April 1, 1776, to facilitate the settlement of claims and to keep the public accounts for the United Colonies.
On May 14, 1777, the Treasury Office was reorganized three times between 1778 and 1781. By May 1781, the dollar collapsed at a rate of from 500 to 1000 to 1 against hard currency. Protests against the worthless money swept the colonies, giving rise to the expression “not a Continental’s Treasury” The office has customarily been known as ‘Treasury, “ without any singular article,” without a guiding purpose. For example, the department’s mission instead of the mission of theTreasury’s mission is instead of “the Treasury’s mission’, instead of its guiding purpose of ‘the Treasury’. The Department is administered by the secretary of treasury, who is a member of the Cabinet, and has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. The treasurer of the US Treasury is a position with limited powers, but has the authority to make recommendations to the President.
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This page is based on the article United States Department of the Treasury published in Wikipedia (as of Jan. 26, 2021) and was automatically summarized using artificial intelligence.
