Michael Faulkender, the Treasury Department's number two, leaves the Trump administration

Michael Faulkender, the number two at the Treasury Department, resigned after just five months in the post. The agency has not yet explained the reasons for his departure and the hitherto deputy secretary did not express himself on the matter. Donald Trump will be in charge of appointing a successor, who will have to be confirmed by the Senate.

Faulkender, a professor of finance at the University of Maryland and with a past in the first Trump Administration, had been confirmed by the Upper House last March 26. He was sworn in in mid-April. Since then, he oversaw the day-to-day tasks of the Treasury and was active in the media.

During Trump's first four years, he served as Treasury undersecretary for Economic Policy, where he advised the secretary, then Steve Mnuchin, on domestic and international economic issues. He was also involved in formulating public policy to respond to the COVID-19 pandemic.

"I would like to thank Deputy Secretary Faulkender for his dedication and service. 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" Treasury Secretary, Scott Bessent wrote in a statement.

"His important work has supported the passage of the historic Big Beautiful Bill and GENIUS Act, and the leveling of sanctions against our adversaries," he added.

Faulkender became the second Senate-confirmed official to leave the Treasury Department. The first was Billy Long, who lasted two months as commissioner of the Internal Revenue Service (IRS). Prior to Long, the hitherto undersecretary served briefly as IRS commissioner.

The first to report the departure of the Treasury's number two was Laura Loomer, a MAGA activist, who said he would return as a professor at the University of Maryland next semester.