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The Under Secretary of the Treasury for International Affairs is a senior position within the United States Department of the Treasury responsible for advising the Secretary of the Treasury on international economic issues. The office of Under Secretary for International Affairs was vacant for nearly a year, following the November 2013 departure of Lael Brainard, who had been appointed by President Barack Obama in April 2010. On Wednesday, February 12, 2014, the White House Press Office announced that U.S. President Barack Obama had nominated D. Nathan Sheets, of Maryland, to the U.S. Senate for confirmation as her replacement. On September 18, 2014, Nathan Sheets was confirmed unanimously by the U.S. Senate for the position.
Contents
Overview
The Under Secretary has oversight of the following:
Former Under Secretaries
Notable former Under Secretaries include David H. McCormick, Timothy D. Adams, John B. Taylor, Timothy F. Geithner, David Mulford, and Lawrence H. Summers.
Duties
The Under Secretary leads the development and implementation of policies in the areas of international finance, trade in financial services, investment, economic development, international debt. It also leads the development of policies on U.S. participation in the International Monetary Fund, the World Bank, and the other multilateral development banks (including the Inter-American Development Bank, the African Development Bank, the Asian Development Bank, and the European Bank for Reconstruction and Development). The Under Secretary also coordinates financial market policy with the G7 industrial nations.