Faulkender Resigns from Treasury Department

Michael Faulkender, who was appointed as Deputy Director, has departed from the agency just under five months after a Senate confirmation.

According to two anonymous sources, it has been confirmed that Faulkender, who was approved by the Senate in late March, has resigned from his position at the Treasury Department, as reported first by the Wall Street Journal. His exit from the Treasury will occur in two weeks.

On a related note, President Donald Trump dismissed former IRS Commissioner Billy Long on August 8.

In a statement, a representative expressed gratitude for Faulkender’s commitment and service, noting that he had been overseeing the U.S. Treasury operations since January and had played a crucial role in advancing President Trump’s economic initiatives.

The representative added that Faulkender’s contributions significantly aided in the passage of major legislation and implementing sanctions against adversaries.

Prior to his role at the Treasury, Faulkender served as a professor at various prestigious institutions, including the Wharton School at the University of Pennsylvania and the Kellogg School at Northwestern University. From 2022 until January 2025, he acted as Chief Economist at the American First Policy Institute.

In another development, Trump also dismissed Labor Statistics Committee member Erika McEntarfer on August 1, shortly after the disappointing job report for July was released. He announced on August 11 that Dr. Eji Antoni, a conservative economist, would replace McEntarfer as the next BLS commissioner.

The Treasury Department has yet to respond to requests for comment regarding Faulkender’s departure.