Former U.S. Treasury Secretary Larry Summers Banned for Life from Top Economics Association

The American Economic Association (AEA) has permanently banned former U.S. Treasury Secretary Larry Summers from its membership. The association took this action after reviewing emails that showed a close professional relationship between Summers and the late financier Jeffrey Epstein. Epstein was a convicted sex offender who died in jail in 2019 while awaiting trial on new charges. The AEA stated that its decision reflects its commitment to ethical standards for economists. Summers served as Treasury Secretary under President Bill Clinton and as a top economic advisor to President Barack Obama. He also served as president of Harvard University. The AEA is the world's largest professional organization for economists. The ban means Summers cannot participate in AEA conferences or publish in its prestigious journals. He has not yet made a public statement regarding the lifetime ban.