Larry Summers

Lawrence Henry Summers (born November 30, 1954) is an American economist. He served as the 71st United States Secretary of the Treasury from 1999 to 2001, the 27th president of Harvard University from 2001 to 2006, and the eighth director of the National Economic Council from 2009 to 2010. He was the Charles W. Eliot University Professor at Harvard Kennedy School until his resignation in February 2026. Summers became a professor of economics at Harvard University in 1983. He left Harvard in 1991, working as the chief economist of the World Bank from 1991 to 1993. In 1993, Summers was appointed Under Secretary for International Affairs of the United States Department of the Treasury under President Bill Clinton's administration. In 1995, he was promoted to Deputy Secretary of the Treasury under his long-time political mentor Robert Rubin. In 1999, he succeeded Rubin as Secretary of the Treasury. While working for the Clinton administration, Summers played a leading role in the American response to the 1994 economic crisis in Mexico, the 1997 Asian financial crisis, and the 1998 Russian financial crisis. He was also influential in the Harvard Institute for International Development and American-advised privatization of the economies of the post-Soviet states, and in the deregulation of the U.S. financial system, including the repeal of the Glass–Steagall Act. Following the end of Clinton's term, Summers served as the 27th president of Harvard University from 2001 to 2006. Summers resigned as Harvard's president in the wake of a no-confidence vote by Harvard faculty, which resulted in large part from Summers's conflict with Cornel West, financial conflict of interest questions regarding his relationship with Andrei Shleifer, and a 2005 speech in which he offered three reasons for the under-representation of women in science and engineering, including the possibility that there exists a "different...