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White House officials expect Lawrence Summers to leave his job as the president’s National Economic Council director after November’s congressional elections, according to three people familiar with the matter.
His departure would leave Treasury Secretary Timothy Geithner as the only member of President Barack Obama’s original top-tier economic team. Summers, 55, and the president have discussed his future plans, according to one person.
Administration officials are weighing whether to put a prominent corporate executive in the NEC director’s job to counter criticism that the administration is anti-business, one person familiar with White House discussions said. White House aides are also eager to name a woman to serve in a high-level position, two people said. They also are concerned about finding someone with Summers’ experience and stature, one person said.
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Summers has been a forceful advocate of his positions within the administration and also urged restraint on issues such as the economic stimulus and adoption of the “Volcker Rule,” which limits banks from engaging in proprietary trading, people familiar with discussions said.
In internal discussions, Summers has argued that the administration needs to make more overtures to the business community and has opposed political advisers who want the president to strike a more populist tone, one person said.
His departure would leave Treasury Secretary Timothy Geithner as the only member of President Barack Obama’s original top-tier economic team. Summers, 55, and the president have discussed his future plans, according to one person.
Administration officials are weighing whether to put a prominent corporate executive in the NEC director’s job to counter criticism that the administration is anti-business, one person familiar with White House discussions said. White House aides are also eager to name a woman to serve in a high-level position, two people said. They also are concerned about finding someone with Summers’ experience and stature, one person said.
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Summers has been a forceful advocate of his positions within the administration and also urged restraint on issues such as the economic stimulus and adoption of the “Volcker Rule,” which limits banks from engaging in proprietary trading, people familiar with discussions said.
In internal discussions, Summers has argued that the administration needs to make more overtures to the business community and has opposed political advisers who want the president to strike a more populist tone, one person said.
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