Larry Summers, former Obama official and Treasury Secretary under President Bill Clinton, talked about Obamacare and the economy Tuesday on CNN's "Erin Burnett OutFront."FULL STORY
(CNN) – In an interview with CNN's Fareed Zakaria, former President Bill Clinton stood by the Obama administration's pursuit of a deal with Russia for Syria to hand over its chemical weapons.
On a separate topic, Clinton called Larry Summers "a friend" but did not directly answer whether he should have removed his name Sunday from consideration for the chairmanship of the Federal Reserve.
New York (CNNMoney) - After months of contentious public debate, Larry Summers has withdrawn his name from consideration to become the next chairman of the Federal Reserve, sources familiar with the decision confirmed to CNN.
President Obama said he spoke with Summers earlier Sunday and accepted his decision.FULL STORY
Washington (CNN) - Two top financial voices from different sides of the aisle voiced outrage on Sunday over Standard & Poor's downgrade of the United States’ credit rating, but disagreed on whom to put the blame.
Steve Forbes, CEO of Forbes, Inc. and a former Republican presidential candidate called S&P's downgrade from AAA to AA+ Friday, "an outrageous move" given that the government can still pay the interest and principal on its bonds.
WASHINGTON DC (CNN) - President Obama's departing top economic advisor Larry Summers hit back at Democratic critics accusing him of exaggerating the consequences of failing to pass the president's tax bill.
Summers surprised some lawmakers Wednesday when he warned Congress that not supporting the legislation could lead to a double-dip recession in 2011.
WASHINGTON (CNN) - President Barack Obama's top aides on Wednesday defended the tax plan hammered out with Republican leaders, saying Democrats are coming around to the reality that the agreement contains plenty of good things despite proposals they dislike.
At the same time, senior White House economic adviser Larry Summers warned Congress that failing to approve the agreement could lead to a double-dip recession in 2011.
Washington (CNN) - Investment banker Roger Altman quietly slipped into the White House early Friday morning for a second round of meetings with top officials, fueling talk inside the administration that he may be on the inside track to replace Lawrence Summers as President Obama's senior economic adviser.
But I'm starting to pick up growing frustration from Democrats inside and outside the White House that the process to replace Summers is dragging on too long at a time when Obama is supposed to be focused like a laser on creating jobs. That could be hard to do when you don't have a new team in place.
President Obama's departing director of the National Economic Council, Larry Summers, says part of his reason for stepping down was out of a "desire to think fundamental thoughts."
In an email exchange with this reporter, Summers, who helped the President develop and implement his economic policy in the first two years of his administration, also seemed eager to return to his home state of Massachusetts.
He was a frequent flyer on the shuttle between Boston's Logan airport and Reagan National, sometimes spotted carrying a soft canvas bag and hailing a cab into town.
During one commute we shared a taxi to the White House.
(CNN) - The Obama administration's top economic adviser, Larry Summers, will be stepping down from his post at the end of 2010, the White House announced Tuesday.
Summers, the director of the National Economic Council, will return to Harvard University, the White House said. His departure comes as the administration is struggling with poor reviews of its stewardship of the economy after a deep recession that has unemployment at nearly 10 percent.
"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," President Barack Obama said in a statement on Summers' departure.
Updated 5:40 p.m.