White House Calls Reports on Summers ‘Ridiculous’

The White House on Friday denied reports that Larry Summers, head of the National Economic Counsel, may leave the administration presumably after the mid-term elections.

“This rumor is ridiculous,” a White House spokesperson told CNBC. “Larry is focused every day helping the President get Americans back to work, and he’s enjoying the job.”

The reports, originally aired on the Fox Business Network, cited unnamed sources who said there’s been some speculation that Summers wanted to be appointed Fed Chairman and he may be leaving because he’s unhappy with the job.

Summers, who in 2005 suggested women had less “intrinsic aptitude” than men for science, served as Treasury Secretary during the Clinton Administration. His tenure is the briefest in 140 years.

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