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 February 21, 2023, that position has been held by Lael Brainard.
The National Economic Council[3] 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.[4] 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.[5]
Prior to the creation of the National Economic Council, economic policy staff had existed since the 1960's. 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.[6]
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.[7]
Structure and membershipedit
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:[8][9]
President George W. Bush meets with his economic advisors on February 25, 2003.
Structure and membership of the United States National Economic Council (As of November 2023[update])
Lael Brainard (Assistant to the President for Economic Policy)
Deputy Director
Aviva Aron-Dine (Deputy Assistant to the President and Deputy Director, National Economic Council for Economic & Tax Policy)
Deputy Director
Brendan Danaher (Deputy Assistant to the President and Deputy Director, National Economic Council for Labor & Economy)
Deputy Director
Jon Donenberg (Deputy Assistant to the President and Deputy Director, National Economic Council for Financial Reform & Consumer Protection)
Deputy Director
Joelle Gamble (Deputy Assistant to the President and Deputy Director, National Economic Council for Manufacturing, Innovation & Domestic Competitiveness)
^"The National Economic Council | Manufacturing.gov". www.manufacturing.gov. Retrieved January 19, 2022.
^"Federal Register :: Agencies - National Economic Council".
^"National Economic Council". The White House. Retrieved January 19, 2022.
^. February 2, 2017. Archived from the original on February 2, 2017. Retrieved January 19, 2022.
^"The National Economic Council: A Work in Progress". PIIE. April 21, 2016. Retrieved January 19, 2022.
^"Domestic Policy Council". The White House. Retrieved January 19, 2022.
^"The National Economic Council, The White House Transition Project" (PDF).
^"National Economic Council Membership, U.S Government Manual".
^"The National Economic Council, The White House Transition Project" (PDF).
Further readingedit
Sarah Rosen Wartell. "The White House: National Economic Council." In Change for America: A Progressive Blueprint for the 44th President. Edited by Mark Green and Michele Jolin, pp. 15–22. Washington: The Center for American Progress Action Fund, 2008.
External linksedit
National Economic Council (Archive)
February 15, 2024
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For another similarly sounding agency within the U S federal government see Council of Economic Advisers For identically titled councils in other countries see National Economic Council 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 1 which is within the Executive Office of the President of the United States 2 National Economic CouncilAgency overviewFormedJanuary 25 1993HeadquartersEisenhower Executive Office BuildingEmployees25Agency executiveLael Brainard DirectorParent agencyOffice of Policy Development Executive Office of the President of the United StatesWebsiteNational Economic Council WebsiteSince 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 February 21 2023 that position has been held by Lael Brainard Barack Obama meets with William M Daley Mark Zuckerman Gene Sperling Lael Brainard and Neal S Wolin 2011Contents 1 History and mission 2 Structure and membership 3 Directors of the National Economic Council 4 References 5 Further reading 6 External linksHistory and mission editThe National Economic Council 3 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 4 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 5 Prior to the creation of the National Economic Council economic policy staff had existed since the 1960 s 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 6 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 7 Structure and membership editAdditional 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 8 9 nbsp President George W Bush meets with his economic advisors on February 25 2003 Structure and membership of the United States National Economic Council As of November 2023 update Chair Joe Biden President Director Lael Brainard Assistant to the President for Economic Policy Deputy Director Aviva Aron Dine Deputy Assistant to the President and Deputy Director National Economic Council for Economic amp Tax Policy Deputy Director Brendan Danaher Deputy Assistant to the President and Deputy Director National Economic Council for Labor amp Economy Deputy Director Jon Donenberg Deputy Assistant to the President and Deputy Director National Economic Council for Financial Reform amp Consumer Protection Deputy Director Joelle Gamble Deputy Assistant to the President and Deputy Director National Economic Council for Manufacturing Innovation amp Domestic Competitiveness Regular attendees Kamala Harris Vice President Antony Blinken Secretary of State Janet Yellen Secretary of the Treasury Jared Bernstein Chair of the Council of Economic Advisers Gina Raimondo Secretary of Commerce Julie Su Acting Secretary of Labor Marcia Fudge Secretary of Housing and Urban Development Pete Buttigieg Secretary of Transportation Jennifer Granholm Secretary of Energy Xavier Becerra Secretary of Health and Human Services Additional participants Isabella C Guzman Administrator of the Small Business Administration Michael S Regan Administrator of the Environmental Protection Agency Shalanda Young Director of the Office of Management and Budget Katherine Tai United States Trade Representative Neera Tanden Assistant to the President for Domestic Policy Jake Sullivan Assistant to the President for National Security Affairs nbsp Barack Obama meets with advisors in the Oval Office Aug 10 2012Directors of the National Economic Council editImage Name Start End President nbsp Bob Rubin January 25 1993 January 11 1995 Bill Clinton nbsp Laura Tyson February 21 1995 December 12 1996 nbsp Gene Sperling December 12 1996 January 20 2001 nbsp Larry Lindsey January 20 2001 December 12 2002 George W Bush nbsp Steve Friedman December 12 2002 January 10 2005 nbsp Allan Hubbard January 10 2005 November 28 2007 nbsp Keith Hennessey November 28 2007 January 20 2009 nbsp Larry Summers January 20 2009 January 20 2011 Barack Obama nbsp Gene Sperling January 20 2011 March 5 2014 nbsp Jeff Zients March 5 2014 January 20 2017 nbsp Gary Cohn January 20 2017 April 2 2018 Donald Trump nbsp Larry Kudlow April 2 2018 January 20 2021 nbsp Brian Deese January 20 2021 February 21 2023 Joe Biden nbsp Lael Brainard February 21 2023 presentReferences edit The National Economic Council Manufacturing gov www manufacturing gov Retrieved January 19 2022 Federal Register Agencies National Economic Council National Economic Council The White House Retrieved January 19 2022 Should you be the next Larry Summers Fortune com February 2 2017 Archived from the original on February 2 2017 Retrieved January 19 2022 The National Economic Council A Work in Progress PIIE April 21 2016 Retrieved January 19 2022 Domestic Policy Council The White House Retrieved January 19 2022 The National Economic Council The White House Transition Project PDF National Economic Council Membership U S Government Manual The National Economic Council The White House Transition Project PDF Further reading editSarah Rosen Wartell The White House National Economic Council In Change for America A Progressive Blueprint for the 44th President Edited by Mark Green and Michele Jolin pp 15 22 Washington The Center for American Progress Action Fund 2008 External links editNational Economic Council Archive Retrieved from https en wikipedia org w index php title National Economic Council United States amp oldid 1200422219, wikipedia, wiki, book, books, library,
