Malerba’s appointment by Biden will also allow Yellen’s signature to be added to the US currency, as this was prohibited without a US treasurer in place. Dollar notes have been printed since Yellen took office last year with the former treasury secretary Steven Mnuchin’s signature on them.
The treasurer position has been vacant since January 2020, when Jovita Carranza left to become small business administrator in the Trump administration. The US treasurer directly oversees the US Mint, the Bureau of Printing and Engraving, and storage of about $270bn worth of gold at Fort Knox, and is a liaison with the Federal Reserve.
Yellen’s visit to the Rosebud Sioux reservation marks the first time that a treasury secretary has visited a tribal nation – department officials said they could find no record of a prior visit.
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