Economic Team

Anne Mulchay May Take Over for Larry Summers

Former Xerox Chief Anne Mulcahy is the leading contender to replace Larry Summers as the head of the National Economic Council. The highly controversial Summers, who played a key role in the stimulus plan and financial regulation, is going back to Harvard at the end of the year, he announced Tuesday. Obama reportedly wants to tap a corporate leader to beat back criticism that he’s anti-business. Mulcahy, who serves on the President’s Economic Advisory Board, had dinner with White House adviser Valerie Jarrett Friday night. Other people who might be tapped for the post include Deputy National Economic Council Director Diana Farrell, and Berkeley economist Laura Tyson.