Larry Summers to retire from Harvard amid Epstein scandal
Larry Summers, the economist and former Treasury Secretary, revealed his intention to step down from his professorship at Harvard University by the end of the academic year. The decision comes as the institution examines his connections to Jeffrey Epstein, the convicted sex offender. Summers expressed gratitude for the students and colleagues he has worked with over the years, calling the retirement a “difficult decision” in a statement.
According to Harvard spokesperson Jason Newton, Summers has also resigned from his position as co-director of the Mossavar-Rahmani Center for Business and Government. The dean of the Harvard Kennedy School accepted his resignation “in connection with the ongoing review by the university of documents related to Jeffrey Epstein that were recently released by the government.” Summers will remain on leave until the academic year concludes and will not be teaching or mentoring new students.
News of Summers’ planned exit was first shared by the Harvard Crimson student newspaper. He previously served as Treasury secretary under President Bill Clinton from 1999 to 2001 and later joined the White House as director of the National Economic Council during Barack Obama’s presidency. His policies played a pivotal role in stabilizing the US economy post-Great Financial Crisis.
Recent disclosures have intensified scrutiny on Summers, linking him to a series of documents that question the judgment of several prominent figures. In November, he admitted feeling “deeply ashamed” about his relationship with Epstein and paused public appearances to “rebuild trust and repair relationships.” This led to his lifetime ban from the American Economic Association and resignations from advisory roles at OpenAI and Spanish bank Santander.
Documents released in recent months detail Summers’ years of communication with Epstein, including emails that revealed sexist remarks and requests for romantic guidance. Harvard has not disclosed whether firing Summers was under consideration or the specifics of his financial package. “Free of formal responsibility, as President Emeritus and a retired professor, I look forward to engaging in research, analysis, and commentary on global economic issues,” he stated in a blockquote.
“Free of formal responsibility, as President Emeritus and a retired professor, I look forward to engaging in research, analysis, and commentary on a range of global economic issues,” Summers said.
CNN’s MJ Lee contributed to this report.
