National Economic Council

How the IRS Takes the Gold After the Olympics

Team USA's biggest winner of the London Olympic Games may be the IRS. Our Olympic medalists will rake in handsome rewards for representing their country, but they will also have to give a chunk back to Uncle Sam in taxes -- even though they earned the cash overseas.

Obama to Name New Chief Economic Adviser Friday

President Barack Obama will likely name a new chief economic advisor to replace Lawrence Summers later this week as his administration looks for more effective ways to reduce an unemployment rate that remains near 10%, the Associated Press reported Wednesday.

More Top Obama Economic Aides to Step Down

Two of President Barack Obama%u2019s top economic advisers plan to quit. White House National Economic Council Deputy Director Diana Farrell and Treasury Department Assistant Secretary for Financial Institutions Michael Barr both plan to leave in the coming weeks, The Wall Street Journal reported.

Will Jeff Immelt Be Larry Summers' Replacement?

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?

Summers to Step Down as Obama's Economic Adviser

Lawrence Summers will step down from his role as President Obama's National Economic Council director and return to Harvard University after the midterm elections in November, according to reports.