What the Secretary of the Treasury does
The government's chief money manager and top economic advisor to the President.
Common misconceptions(3)
- Prints U.S. dollarsActually: The Federal Reserve — an independent central bank — controls the money supply and sets interest rates, not Treasury.
- Sets the federal budgetActually: Congress writes and passes the budget. Treasury manages the money after Congress decides how to spend it.
- Controls Wall StreetActually: The SEC regulates stock markets. Treasury oversees banks alongside the Fed and OCC, but doesn't run the markets.