Michael Faulkender

Michael Faulkender
Assistant Secretary for Economic Policy
U.S. Department of the Treasury

Dr. Michael Faulkender was confirmed as the Assistant Secretary of the Treasury for Economic Policy on August 1, 2019.

In this role, he advises the Secretary on current and prospective economic developments in the United States and world economies, and assists in the determination of appropriate economic policies.  The Assistant Secretary also serves as head of the Office of Economic Policy.  The Office conducts research to assist in the formulation and articulation of public policies and positions of the Treasury Department on a wide range of macroeconomic and microeconomic issues.

Prior to joining the Department, Dr. Faulkender was the Associate Dean of Masters Programs and a Professor of Finance at the Smith School of Business at the University of Maryland.  In addition, he held faculty positions at the Olin School at Washington University in St. Louis, the Kellogg School at Northwestern University, and the Wharton School at the University of Pennsylvania.  Dr. Faulkender’s research has been published in leading academic journals on topics such as capital structure, corporate liquidity, risk management, and executive compensation.  His publications have won numerous awards and been cited several times in the financial press.

Born and raised in California, Dr. Faulkender holds a B.S. in Managerial Economics (with high honors) from the University of California, Davis and a Ph.D. in Finance from Northwestern University.