Surf Wiki
Save to docs
geography/united-states

From Surf Wiki (app.surf) — the open knowledge base

National Economic Council (United States)

US federal government body chaired by the President for consideration of economic issues

US federal government body chaired by the President for consideration of economic issues

FieldValue
agency_nameNational Economic Council
sealSeal of the Executive Office of the President of the United States 2014.svg
formedJanuary 25, 1993
headquartersEisenhower Executive Office Building
employees25
chief1_nameKevin Hassett
chief1_positionDirector
parent_agencyOffice of Policy Development, Executive Office of the President of the United States
website

The National Economic Council (NEC) is the principal forum used by the president of the United States for the consideration of domestic and international economic policy matters with senior policymaking and Cabinet officials, and forms part of the Office of Policy Development which is within the Executive Office of the President of the United States.

Since the creation of the National Economic Council on January 25, 1993, its purpose is to coordinate domestic and international economic policy-making decisions; to advise the president on economic policy, with respect to domestic and international economic policy matters; to coordinate with various agencies across the federal government to establish consistent policy with the president's stated goals; and monitor the implementation of the economic agenda of the president.

The National Economic Council differs from the Domestic Policy Council, as it considers economic policy matters, while the Domestic Policy Council may consider anything which is related to domestic matters, with the exception of economic policy matters. It also differs from the Council of Economic Advisers, which provides research for the White House based on data, research, and evidence. The Council is also the principal arm of the president when coordinating his economic policies and goals among various other agencies.

The National Economic Council is headed by the assistant to the president for economic policy and director of the National Economic Council. Since January 20, 2025, that position has been held by Kevin Hassett.

History and mission

The National Economic Council was created on January 25, 1993 by Executive Order 12835 by President Bill Clinton, officially to coordinate the economic policy-making process with respect to domestic and international economic issues; to coordinate economic policy advice to the president; to ensure that economic policy decisions and programs are consistent with the president's stated goals, and to ensure that those goals are being effectively pursued; and to monitor implementation of the president's economic policy agenda. Clinton appointed Robert Rubin as assistant to the president for economic policy and director of the National Economic Council on January 25, 1993, the same day as the creation of the Council. The creation of the council also fulfilled a major promise by President Bill Clinton, to make the economy of the United States a priority.

Prior to the creation of the National Economic Council, economic policy staff had existed since the 1960s. President Lyndon B. Johnson assigned a senior aide to develop and organize domestic policy, of which economic policy was included. In 1970, President Richard M. Nixon issued an executive order which created the Office of Policy Development. President Clinton split the responsibilities of the Domestic Policy Council with the National Economic Council.

The Council is considered an important tool for presidential administrations to use to achieve their domestic, and international economic goals. Robert Rubin said that the purpose for the creation of the Council was to "fix a process problem" and according to Rubin, Clinton said that he believed that he needed to find "some process instrument" which would be able to perform the role and function necessary to advance the president's agenda, and allow agencies to deliberate, coordinate, and solve matters of economic importance. Rubin states another reason Clinton established the Council was "“integrate domestic and international economic policy and. . .integrate international economic policy and so-called foreign policy.” Instead of having two domestic and international domestic staff, the council would blend the two together.

Structure and membership

Additional members are added by the president of the United States, however the structure and membership of the National Economic Council, which is similar to that of the National Security Council, is as follows:

ChairDirectorDeputy DirectorRegular attendeesAdditional participants
Donald Trump (President)
Kevin Hassett (assistant to the president for economic policy)
Vacant (deputy assistant to the president and deputy director for Labor & Economy)
Vacant (deputy assistant to the president and deputy director for Industrial Policy)
Vacant (deputy assistant to the president and deputy director for Competition & Policy)
Vacant (deputy assistant to the president and deputy director for Economic & Tax Policy)
{{plainlist
{{plainlist

Directors of the National Economic Council

ImageNameStartEndPresident
[[File:Pr4262ls-treasury-rubin.jpg50px]]Democratic Party (United States)}};"
[[File:Laura tyson.jpg50px]]Democratic Party (United States)}};"
[[File:Gene Sperling (National Economic Council) (cropped).jpg50px]]Democratic Party (United States)}};"
[[File:Governor Lawrence B Lindsey 140501.jpg50px]]Republican Party (United States)}};"
[[File:Stephen Friedman (cropped).jpg50px]]Republican Party (United States)}};"
[[File:Allan B. Hubbard.jpg50px]]Republican Party (United States)}};"
[[File:Keith Hennessey.jpg50px]]Republican Party (United States)}};"
[[File:Lawrence Summers 2012.jpg50px]]Democratic Party (United States)}};"
[[File:Gene Sperling (National Economic Council) (cropped).jpg50px]]Democratic Party (United States)}};"
[[File:Jeffrey Zients official portrait.jpg50px]]Democratic Party (United States)}};"
[[File:Gary Cohn at Regional Media Day (cropped).png50px]]Democratic Party (United States)}};"
[[File:White House Press Briefing (50322465258) (cropped).jpg50px]]Republican Party (United States)}};"
[[File:Brian Deese official portrait.jpg50px]]Democratic Party (United States)}};"
[[File:Lael Brainard (14438068496).jpg50px]]Democratic Party (United States)}};"
[[File:Kevin Hassett official photo.jpg50px]]Republican Party (United States)}};"Incumbent

References

References

  1. "The National Economic Council".
  2. "Federal Register :: Agencies - National Economic Council".
  3. "National Economic Council".
  4. (2017-02-02). "Should you be the next Larry Summers? {{!}} Fortune.com".
  5. (2016-04-21). "The National Economic Council: A Work in Progress".
  6. "Domestic Policy Council".
  7. "The National Economic Council, The White House Transition Project.".
  8. "National Economic Council Membership, U.S Government Manual.".
  9. "The National Economic Council, The White House Transition Project.".
Info: Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

economy-of-the-united-states executive-office-of-the-president-of-the-united-states united-states-economic-policy united-states-national-commissions
Want to explore this topic further?

Ask Mako anything about National Economic Council (United States) — get instant answers, deeper analysis, and related topics.

Research with Mako

Free with your Surf account

Content sourced from Wikipedia, available under CC BY-SA 4.0.

This content may have been generated or modified by AI. CloudSurf Software LLC is not responsible for the accuracy, completeness, or reliability of AI-generated content. Always verify important information from primary sources.

Report