Larry Summers to retire from Harvard amid Epstein scandal

Larry Summers to retire from Harvard amid Epstein scandal

Harvard University’s former president, economist Larry Summers, revealed his intention to step down on Wednesday, citing the ongoing scrutiny surrounding his associations with Jeffrey Epstein. The decision comes as new government-released documents scrutinize his past interactions with the convicted sex offender. Summers expressed gratitude for the students and colleagues who shaped his academic journey, calling the move a “difficult decision” in a statement shared by the university.

According to Harvard spokesperson Jason Newton, Summers has also tendered his resignation as co-director of the Mossavar-Rahmani Center for Business and Government. The university’s dean of the Kennedy School accepted the departure, linking it to an investigation into Epstein-related materials. Newton noted Summers will continue on leave until the academic year concludes, without teaching duties or new mentorship responsibilities.

“Free of formal responsibility, as President Emeritus and a retired professor, I look forward in time to engaging in research, analysis, and commentary on a range of global economic issues,” Summers said.

Summers’ career has seen significant roles, including Treasury Secretary under President Bill Clinton and later as director of the National Economic Council during Obama’s administration. His policies were pivotal in stabilizing the U.S. economy post-Great Financial Crisis. However, recent disclosures have cast doubt on his judgment, with emails revealing years of personal exchanges with Epstein, including sexist remarks and requests for romantic guidance.

Earlier this year, Summers admitted feeling “deeply ashamed” about his relationship with Epstein, temporarily halting public appearances to “rebuild trust and repair relationships.” His ties to the sex offender have led to his lifetime ban from the American Economic Association and his exit from advisory boards at OpenAI and Santander. While Harvard did not confirm if he faced termination, the institution remained silent on potential financial terms for his departure.

The news of Summers’ retirement first surfaced in the Harvard Crimson, the university’s student publication. As the scandal continues to ripple through academic and business circles, his departure marks another chapter in the ongoing fallout from Epstein’s influence.

CNN’s MJ Lee contributed to this report.