Trump Appoints Michael Faulkender as Treasury Deputy

President-elect Donald Trump has nominated economist Michael Faulkender as deputy secretary of the Treasury, a position he previously held in Trump's first term overseeing the Paycheck Protection Program (PPP) during the pandemic. Faulkender, a finance professor at the University of Maryland and chief economist at the America First Policy Institute, is expected to support Trump's 'America First agenda'. While the PPP was credited with saving millions of jobs, it faced criticism for benefiting wealthier taxpayers and being susceptible to fraud, with estimates of fraudulent loans exceeding $64 billion. If confirmed, Faulkender will work under Treasury Secretary nominee Scott Bessent to implement economic policies aimed at a 'Great Economic Boom' for the U.S. Concerns have been raised by FEMA officials about potential future redirection of disaster funds to support immigration initiatives under Trump's administration, which could hinder disaster recovery efforts. These developments come amid ongoing budget shortfalls for FEMA, complicating the agency's ability to respond to natural disasters.