Lawrence Summers

Summers out of Fed chief chase

Summers out of Fed chief chase

For weeks, Lawrence Summers had been considered the leading candidate to succeed Ben Bernanke as Federal Reserve chairman. A renowned economist, Summers built close ties to President Barack Obama when he led the president’s National Economic Council in 2009 and 2010. In that role, he helped orchestrate the administration’s efforts to combat the financial crisis […]

Volcker ending term on Obama’s economic planel

Volcker ending term on Obama’s economic planel

Former Federal Reserve Chairman Paul Volcker is ending his term as chairman of President Barack Obama‘s economic advisory panel next month, a person familiar with the situation said Wednesday. Volcker is a highly regarded voice on financial policy and has been an occasional outside counselor to the White House both as head of the recovery […]

Obama-GOP tax bill passes key Senate hurdle

Obama-GOP tax bill passes key Senate hurdle

Far-reaching legislation to avert a Jan. 1 income-tax increase for millions won overwhelming support in a Senate test vote on Monday, backed by an uneasy and unusual alliance between the White House and lawmakers in both parties. Even before the vote was complete, President Barack Obama said the show of support “proves that both parties […]

Obama finds Jon Stewart show is nothing to laugh about

Obama finds Jon Stewart show is nothing to laugh about

President Barack Obama apparently thinks politics is no laughing matter, even when he’s staring down a comedian. Obama barely cracked any jokes during an appearance Wednesday on “The Daily Show” despite host Jon Stewart‘s attempts to draw out the president’s humorous side with a few of his own snarky wisecracks. Less than a week before […]

White House propaganda shades truth on slow job recovery

White House propaganda shades truth on slow job recovery

White House propagandists hit the talk show circuit Sunday to claim success in reversing the longest recession since the Great Recession but the glowing claims downplayed the economic reality of a slow recovery that will do little to help the millions of Americans who remain unemployed and have little hope of finding jobs in the […]