White House National Economic Council Deputy Director Diana Farrell and Treasury Department Assistant Secretary for Financial Institutions Michael Barr are planning to step down in the coming weeks -- the latest in a series of departures from Obama's economic team.
Herbert Allison, Assistant Secretary of the Treasury for Financial Stability, is the latest member of the Obama economic to leave ahead of what many expect to be crushing losses for the Democrats in November.
In theory, the role of the director of the White House National Economic Council is to present the president with an unbiased range of economic opinions. Larry Summers didn't do that -- he promoted his own views instead. But what will his successor do -- and will it make any difference?
After the midterm elections in November, Summers is expected to relinquish his role as President Obama's National Economic Council director and return to Harvard University.
Larry Summers, President Obama's chief economic adviser, says there are times when Americans fear excessive government, and other times, like the Great Depression, when they want more government involvement. He also believes that one of those times is... now.
The departure of Christina Romer as chair of President Obama's Council of Economic Advisers ought to prompt a rethink of U.S. economic policy -- but it won't, even though Friday's jobs numbers showed tepid progress on creating jobs for the millions put out of work by the recession.
Christina Romer is reportedly leaving the White House as Chair of the President's Council of Economic Advisers. Is she taking the fall for an unemployment rate that has remained stubbornly high?
In an exclusive interview with DailyFinance, the former Treasury Secretary, who now leads the White House's economic council, explains how the administration's reform plan would address several causes of the crisis.
Harvard alumni usually end up doing pretty well for themselves. But one alumnus, former U.S. Treasury Secretary and current Obama economic advisor Larry Summers has bequeathed a big financial problem to his alma mater - a massive losing gamble on interest rates.
