What is the Treasury doing in the wake of the coronavirus pandemic?
So, as you saw, the Treasury Department announced on Monday that they're going to be borrowing $3 trillion in order to help pay for some of the initiatives around the coronavirus pandemic. That's just in the second quarter alone. In the third quarter, they're going to borrow an additional $677 billion. The Congressional Budget Office, the CBO, predicts that the federal budget deficit is going to hit a record $3.7 trillion this year alone.
What is the mission of the Treasury Department?
So, the mission of Treasury is to promote economic prosperity and to also ensure the financial security of the United States. That can range in a wide array of activities, everything from advising the president on economic matters to promoting economic sustainable growth, as well as ensuring the security and stability of the financial system.