FINANCIAL TIMES: Larry Summers, the Obama administration’s top economic adviser, will step down after the November midterm elections and return to Harvard University, the White House said on Tuesday.
Mr Summers’ exit would mark the third high-profile departure from President Barack Obama’s economic team since July. Tim Geithner, Treasury secretary, planned to stay on to help the president build a new economic team, senior administration officials said…
“I will always be grateful that at a time of great peril for our country, a man of Larry’s brilliance, experience and judgment was willing to answer the call and lead our economic team,” Mr Obama said in a statement. “Over the past two years, he has helped guide us from the depths of the worst recession since the 1930s to renewed growth.”… (more)
