The US economy is improving despite setbacks, outgoing White House economic adviser Larry Summers said Tuesday. Summers, speaking at a conference on the US workforce, said the embattled US economy is "moving upwards" despite a series of challenges, including the European crisis that slowed global growth and a buildup of inventories at home. The adviser, which will be leaving his post as Director of the National Economic Council and Assistant to the President for Economic Policy at the end of the year to return to Harvard University as a professor, said the economy was "not fulfilling the promise" that it had shown in the spring because of the headwinds.
