U.S. Treasury

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Definition of 'U.S. Treasury'

The U.S. Treasury is the federal government's fiscal agent. It is responsible for managing the government's finances, including collecting taxes, issuing debt, and managing the federal budget. The Treasury also plays a role in regulating the financial system and promoting economic growth.

The Treasury is headed by the Secretary of the Treasury, who is appointed by the President and confirmed by the Senate. The Secretary of the Treasury is responsible for carrying out the laws and regulations governing the Treasury and for advising the President on economic and financial matters.

The Treasury is divided into several bureaus and offices, each of which is responsible for a specific area of financial management. These bureaus and offices include:

* The Bureau of the Fiscal Service, which is responsible for collecting taxes, issuing government checks, and managing the government's debt.
* The Bureau of the Public Debt, which is responsible for issuing and managing Treasury securities.
* The Office of the Comptroller of the Currency, which is responsible for regulating banks and other financial institutions.
* The Internal Revenue Service, which is responsible for collecting taxes.

The Treasury also plays a role in regulating the financial system. It does this by issuing regulations and guidelines that govern the activities of banks, other financial institutions, and securities markets. The Treasury also works with other government agencies, such as the Federal Reserve, to promote economic growth and stability.

The U.S. Treasury is a major player in the global financial system. It is the world's largest sovereign issuer of debt and the largest holder of foreign exchange reserves. The Treasury's policies have a significant impact on the global economy, and its actions are closely watched by investors and financial markets around the world.

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