The Office of Economic Policy is responsible for analyzing and reporting on current and prospective economic developments in the U.S. and world economies and assisting in the determination of appropriate economic policies. The Assistant Secretary for Economic Policy reports directly to the Secretary of the Treasury and is responsible to him for the review and analysis of both domestic and international economic issues and developments in the financial markets.

The Office participates, along with the Council of Economic Advisers and the Office of Management and Budget, in the preparation of the Administration's budget. Economic Policy supports the Secretary of the Treasury in his roles as Chairman and Managing Trustee of the Social Security and Medicare Boards of Trustees. The Office conducts research to assist in the formulation and articulation of public policies and positions of the Treasury Department on a wide range of microeconomic issues. Recent examples include terror risk insurance, financial disclosure and auditing, stock options, parallel imports, health insurance, retirement income security, and long-term care.