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White House Says Reports on Larry Summers 'Ridiculous'

The White House on Friday refuted reports that Larry Summers, head of the National Economic Counsel, is thinking about leaving the Obama administration.

"This rumor is ridiculous," a White House spokesperson told CNBC. "Larry is focused every day helping the President get Americans back to work, and he's enjoying the job."

The reports, originally aired on the Fox Business television network, cited unnamed sources who said Summers may be leaving because he's unhappy with the job.