Treasury’s Faulkender Stepping Down as Bessent Lauds His Service

Deputy Treasury Secretary Michael Faulkender is stepping down from his post, after having played what Treasury Secretary Scott Bessent said was a “critical role” at the department.

Deputy US treasury secretary Michael Faulkender

Photographer: Graeme Sloan/Bloomberg

“I would like to thank Deputy Secretary Faulkender for his dedication and service,” Bessent said in a statement provided by the Treasury Department that didn’t specify why Faulkender is leaving. “He has played a critical role in overseeing the US Department of the Treasury’s operations and executing on President Trump’s bold economic agenda.”

Faulkender didn’t immediately respond to a call seeking comment. The Wall Street Journal earlier reported Faulkender’s departure. Trump ally ...