Summers is now taking a leave of absence from his teaching position at Harvard, where he was previously president.
Previously, Summers has announced that he is also stepping back from various public commitments, including his seat on Open AI's board.
When a large portion of Jeffrey Epstein's email correspondence was released by congressional politicians last week, Larry Summers' name came up many times. The two had been in contact for at least seven years, until July 2019. There, Summers, who was and is married, seeks advice on how to start a relationship with a woman he describes as a disciple.
"I am deeply ashamed of my actions and recognize the pain they have caused. I take full responsibility for my mistaken decision to continue communicating with Epstein," Summers said in a statement to the student newspaper The Harvard Crimson.
70-year-old Summers was Treasury Secretary under President Bill Clinton at the turn of the millennium, and later economic advisor under Barack Obama.
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