Summers resigns as White House economic advisor

Larry Summers announced on Tuesday that he will be leaving his position as director of the White House National Economic Council to return to lecturing at Harvard. Summers has years of policy-making experience, and US President Barack Obama reportedly relied on him heavily to help steer the America through the Great Recession. Polls show that confidence in Obama's economic leadership is low, and analysts say he needs to take the economy in a new direction. Read more: Reuters