Michael Faulkender, deputy US treasury secretary, throughout a Bloomberg Television interview outdoors the White House in Washington, DC, US, on Friday, April 11, 2025.
Stefani Reynolds | Bloomberg | Getty Images
U.S. Deputy Treasury Secretary Michael Faulkender is leaving the Trump administration lower than 5 months after being confirmed by the Senate, the Treasury Department stated.
Faulkender is the second Senate-confirmed official to depart the Treasury Department this month, following the departure of IRS Commissioner Billy Long, who stated he was being tapped as ambassador to Iceland.
U.S. Treasury Secretary Scott Bessent thanked Faulkender for his work on the division however gave no motive for his departure.
“Since January, he has played a critical role in overseeing the U.S. Department of the Treasury’s operations and executing on President Trump’s bold economic agenda,” Bessent stated in an announcement. (*2*)
Trump nominated Faulkender, a University of Maryland finance professor, in December to function the No. 2 official at Treasury, the place he had been assistant secretary of financial coverage throughout Trump’s first time period. He was confirmed by the Senate for the function on March 26.
At the tip of the primary Trump administration, Faulkender had returned to the University of Maryland’s Robert H. Smith School of Business, the place he has been a finance professor since 2008.
He had additionally served because the chief economist for 2 years on the America First Policy Institute, conservative assume tank that has helped form Trump’s coverage agenda.