President-elect Donald Trump is nominating an ally and member of his first administration as his deputy secretary of the U.S. Department of the Treasury.
On Dec. 4, in a statement posted to his Truth Social account, Trump said he is nominating Michael Faulkender as Scott Bessent’s deputy. Bessent was appointed to lead the U.S. Department of the Treasury on Nov. 22, pending Senate confirmation.
Trump said Faulkender previously served in the first Trump administration’s Treasury department as an assistant secretary for economic policy.
Faulkender is currently listed as the vice chair of the Center for American Prosperity and chief economist for the America First Policy Institute. Linda McMahon chairs the Institute. McMahon, a key financial supporter of both of Trump’s presidential campaigns, served as the administrator of the Small Business Administration in the first Trump administration and is currently nominated to serve as his incoming Secretary of Education.
According to a profile published on the Institute’s website, Faulkender is currently the dean’s professor of finance at the University of Maryland’s Smith School of Business.
