National Economic Council (United States)

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National Economic Council
Seal of the Executive Office of the President of the United States 2014.svg
Agency overview
FormedJanuary 25, 1993
HeadquartersEisenhower Executive Office Building
Employees25
Agency executives
  • Brian Deese, Assistant to the President for Economic Policy and Director of the National Economic Council
  • Sameera Fazili, Deputy Director of the National Economic Council
  • David Kamin, Deputy Director of the National Economic Council
  • Bharat Ramamurti, Deputy Director of the National Economic Council
  • Leandra English, Chief of Staff of the National Economic Council
Parent agencyOffice of Policy Development, Executive Office of the President of the United States
WebsiteNational Economic Council 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[1] which is within the Executive Office of the President of the United States.[2]

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, 2021, that position has been held by Brian Deese.

History and mission[edit]

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 membership[edit]

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 March 26, 2021)
Chair Joe Biden (President)
Director Brian Deese (Assistant to the President for Economic Policy)
Deputy Director Sameera Fazili (Deputy National Security Advisor and Deputy National Economic Council director)
Deputy Director David C. Kamin (Deputy Assistant to the President and Deputy Director, National Economic Council)
Deputy Director Bharat Ramamurti (Deputy Assistant to the President and Deputy Director, National Economic Council)
Regular attendees
Additional participants
Barack Obama meets with advisors in the Oval Office, Aug. 10, 2012

Directors of the National Economic Council[edit]

No. Image Officeholder Term start Term end President
1 Pr4262ls-treasury-rubin.jpg Robert Rubin January 25, 1993 January 11, 1995 Bill Clinton
2 Laura tyson.jpg Laura Tyson February 21, 1995 December 12, 1996
3 Gene Sperling (National Economic Council) (cropped).jpg Gene Sperling December 12, 1996 January 20, 2001
4 Governor Lawrence B Lindsey 140501.jpg Lawrence B. Lindsey January 20, 2001 December 12, 2002 George W. Bush
5 Stephen Friedman (cropped).jpg Stephen Friedman December 12, 2002 January 10, 2005
6 Allan B. Hubbard.jpg Allan B. Hubbard January 10, 2005 November 28, 2007
7 Keith Hennessey.jpg Keith Hennessey November 28, 2007 January 20, 2009
8 Lawrence Summers 2012.jpg Lawrence Summers January 20, 2009 January 20, 2011 Barack Obama
9 Gene Sperling (National Economic Council) (cropped).jpg Gene Sperling January 20, 2011 March 5, 2014
10 Jeffrey Zients official portrait.jpg Jeffrey Zients March 5, 2014 January 20, 2017
11 Gary Cohn at Regional Media Day (cropped).png Gary Cohn January 20, 2017 April 2, 2018 Donald Trump
12 White House Press Briefing (50322465258) (cropped).jpg Larry Kudlow April 2, 2018 January 20, 2021
13 Brian Deese official portrait.jpg Brian Deese January 20, 2021 Incumbent Joe Biden

References[edit]

  1. ^ "The National Economic Council | Manufacturing.gov". www.manufacturing.gov. Retrieved January 19, 2022.
  2. ^ "Federal Register :: Agencies - National Economic Council".{{cite web}}: CS1 maint: url-status (link)
  3. ^ "National Economic Council". The White House. Retrieved January 19, 2022.
  4. ^ "Should you be the next Larry Summers? | Fortune.com". web.archive.org. February 2, 2017. Retrieved January 19, 2022.
  5. ^ "The National Economic Council: A Work in Progress". PIIE. April 21, 2016. Retrieved January 19, 2022.
  6. ^ "Domestic Policy Council". The White House. Retrieved January 19, 2022.
  7. ^ "The National Economic Council, The White House Transition Project" (PDF).{{cite web}}: CS1 maint: url-status (link)
  8. ^ "National Economic Council Membership, U.S Government Manual".{{cite web}}: CS1 maint: url-status (link)
  9. ^ "The National Economic Council, The White House Transition Project" (PDF).{{cite web}}: CS1 maint: url-status (link)

Further reading[edit]

  • 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 links[edit]