lawrence summers

President Barack Obama will likely name a new chief economic adviser 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.

Roger Altman, former deputy treasury secretary and founder of Evercore Partners Inc., is a top candidate to replace Lawrence Summers as director of President Obama's National Economic Council, Bloomberg News said. Altman, 64, met with Obama Tuesday to discuss the job, which involves coordinating...

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.

Of all the effects of 2008's economic meltdown, the most significant might be the growing belief that the country is now on the road to socialism. Within days of the government's 2008 bailout of Sallie Mae (SLM) and Freddie Mac (FRE), the media began to resound with complaints about the country's...

It's hard to blame Americans for their generally negative outlook for the U.S. auto industry. Decades of management errors and cost overruns; management that has failed to aggressively respond to competition; and a massive government bailout have soured U.S. consumers on American automakers. The...

If there's one thing you can say about President Obama, whether you like his policies or not, is that he's definitely keeping busy -- not surprising given the economy he inherited, the wars, the climate and so on. Next on his to-do list now is the credit card industry. The president is "going to...

Following Lawrence Summers' oddly inconclusive remarks yesterday to the Economic Club of Washington, the Treasury Department has asked banks to keep mum about the much-ballyhooed "stress tests" that they have undergone to determine their capital needs in difficult economic conditions. The apparent...

White House economic advisor Lawrence Summers sang another chorus of the Obama administration's lullaby about the economy today. Speaking to the Economic Club of Washington, Summers assured listeners that the "sense of a ball falling off the table" is receding, and that he is reasonably confident...