President-elect Trump announced economist Michael Faulkender as his pick for deputy secretary of the Treasury on Wednesday, the second-highest ranking position at the department.
If confirmed, Faulkender would serve under Scott Bessent, Trump's nominee to be Treasury secretary.
During Trump’s first term, Faulkender ran the Paycheck Protection Program (PPP) at the Treasury, a stimulus policy that sent out nearly $800 billion in loans to businesses to keep workers on the payroll during the pandemic, almost all of which were forgiven.
Faulkender is currently a professor of finance at the University of Maryland’s business school. He’s also the........