Deputy Director Michael Faulkender Resigns from Treasury

Michael Faulkender, who recently took on the role of Deputy Director, has decided to leave the agency after less than five months following his Senate confirmation. Two anonymous sources confirmed the news on Friday, highlighting that his resignation comes just two weeks after he announced his departure.

Faulkender’s appointment was confirmed by the Senate in late March. His exit from the Treasury Department was initially reported by the Wall Street Journal. Interestingly enough, it seems that the implications of his leaving might echo larger changes within the department. Notably, President Donald Trump recently removed former IRS commissioner Billy Long from his position earlier this month.

A statement from the Treasury expressed gratitude towards Faulkender for his service, noting that he had been integral to overseeing the department’s operations and supporting the administration’s economic initiatives. Bessent, a spokesperson, remarked on Faulkender’s contributions, calling them significant regarding legislative efforts and sanctions against rivals.

Before joining the Treasury, Faulkender held academic positions at prominent institutions like the Wharton School and Northwestern University’s Kellogg School. He also served as the Chief Economist at the American First Policy Institute prior to his tenure at the Treasury.

Adding to these shifts, it’s worth mentioning the recent dismissal of Erika McEntarfer from the Bureau of Labor Statistics, which occurred just after a concerning employment report in July. Trump appointed Dr. Eji Antoni as her successor shortly thereafter.

The Treasury did not provide immediate comments regarding Faulkender’s resignation when contacted.