September 22, 2010
- A d v e r t i s e m e n t
President Obama’s top economic adviser, Lawrence H. Summers, will step down as director of the National Economic Council after the November elections and return to a teaching post at Harvard University, the White House announced Tuesday.
The departure of Summers, 55, will complete the turnover of three of Obama’s four top economic advisers as the administration struggles with the political fallout of a stubbornly weak economy.
Summers’s exit had been in the works for months, White House officials said. A Treasury secretary in the Clinton adminstration who later served as president of Harvard, Summers initially agreed to join the Obama White House for just one year to help the new president navigate the worst economic crisis since the Great Depression.