Dollar Diplomacy, foreign policy created by U.S. Pres. William Howard Taft (served 1909–13) and his secretary of state, Philander C. Knox, to ensure the financial stability of a region while protecting and extending U.S. commercial and financial interests there.
1The power of the Executive Branch is vested in thePresident of the United States, who also acts as head of state and Commander-in-Chief of the armed forces. ... Fifteen executive departments — each led by an appointed member of the President's Cabinet — carry out the day-to-day administration of the federal government