And and
it conveys the wrong idea. The word translated as "by" is the Greek word dia which means "through" and the word translated as "of" is the word "in". Thus it is not the faith "of" Christ but faith "in" Christ,
Strong's Concordance
dia: through, on account of, because of
Original Word: διά
Part of Speech: Preposition
Transliteration: dia
Phonetic Spelling: (dee-ah')
Short Definition: through, on account of
Definition: (a) gen: through, throughout, by the instrumentality of, (b) acc: through, on account of, by reason of, for the sake of, because of.
So it is really
"through faith in Jesus Christ" and that is how the NASV, NIV, ASV, RV, Holman Christian Standard Bible etc. have it. This is consistent with Gospel truth.
However, Calvinists falsely claim that the gift of God mentioned in Ephesians 2:8 is faith, whereas the verse says that it is salvation, which is not of works, but because of the grace of God, and our faith in Him and in Christ and His finished work of redemption. So where does this faith come from?
Faith is generated by the Gospel itself, which is called "the Word of God", so faith cometh by hearing and hearing by the Word of God (Rom 10:17). But the Gospel is never allowed to remain in isolation from the Holy Spirit, who convinces sinners that Christ died for them according to the Scripture, and rose again for their justification according to the Scriptures. And this is "saving faith". Whenever the full and true Gospel is preached, it is "the power of God unto salvation to them that believe".
But then, there is the spiritual gift of faith (1 Cor 12:9) which is given to some believers, and this would probably be an extraordinary faith to accomplish things for God. But we should also keep in mind that all one needs is faith as a grain of mustard seed in order to move mountains.