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Monday, December 27, 2010

Obama may name new econ adviser


Lawrence Summers (left) announced his resignation as head of the National Economic Council (NEC) in September. -- PHOTO: AFP

WASHINGTON - US PRESIDENT Barack Obama likely will announce a replacement for key economic adviser Lawrence Summers by mid-January, White House spokesman Robert Gibbs said on Sunday.

Mr Gibbs, appearing on CNN's 'State of the Union' programme, also said there were no expectations for major changes in Mr Obama's cabinet.


Mr Summers announced his resignation as head of the National Economic Council (NEC) in September but has continued in the job.

'I expect the president will make a new announcement on a new NEC director probably the first week or two weeks after Congress comes back into session,' Mr Gibbs said.

Members of the new Congress, which will have a Republican majority in the House of Representatives and a smaller Democratic majority in the Senate, will be sworn in on Jan 5.

Mr Summers, who served as treasury secretary under President Bill Clinton and is a former president of Harvard University, was known for his blunt style and was seen by some liberal Democrats as being too close to Wall Street. -- REUTERS

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