National Economic Council (United States)

National Economic Council
Agency overview
Formed	January 25, 1993
Headquarters	Eisenhower Executive Office Building
Employees	25
Agency executive	Lael Brainard, Director;
Parent agency	Office of Policy Development, Executive Office of the President of the United States
Website	National 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 February 21, 2023, that position has been held by Lael Brainard.

History and mission

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 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.^[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

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]

Structure and membership of the United States National Economic Council (As of March 2024^[update])
Chair	Joe Biden (President)
Director	Lael Brainard (assistant to the president for economic policy)
Deputy Director	Brendan Danaher (deputy assistant to the president and deputy director for Labor & Economy)
	Navtej Dhillon (deputy assistant to the president and deputy director for Industrial Policy)
	Jon Donenberg (deputy assistant to the president and deputy director for Competition & Policy)
	Daniel Hornung (deputy assistant to the president and deputy director for Economic & Tax Policy)
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) Adrianne Todman (Acting 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)

Directors of the National Economic Council

	Start	End
Bob Rubin	January 25, 1993	January 11, 1995	Bill Clinton
Laura Tyson	February 21, 1995	December 12, 1996
Gene Sperling	December 12, 1996	January 20, 2001
Larry Lindsey	January 20, 2001	December 12, 2002	George W. Bush
Steve Friedman	December 12, 2002	January 10, 2005
Allan Hubbard	January 10, 2005	November 28, 2007
Keith Hennessey	November 28, 2007	January 20, 2009
Larry Summers	January 20, 2009	January 20, 2011	Barack Obama
Gene Sperling	January 20, 2011	March 5, 2014
Jeff Zients	March 5, 2014	January 20, 2017
Gary Cohn	January 20, 2017	April 2, 2018	Donald Trump
Larry Kudlow	April 2, 2018	January 20, 2021	Donald Trump
Brian Deese	January 20, 2021	February 21, 2023	Joe Biden
Lael Brainard	February 21, 2023	January 20, 2025	Joe Biden
Kevin Hassett	January 20, 2025	Designate	Donald Trump

References

^ "The National Economic Council". Advanced Manufacturing National Program Office. Archived from the original on September 26, 2022. 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).

External links

National Economic Council (Archive)

[1] "The National Economic Council". Advanced Manufacturing National Program Office. Archived from the original on September 26, 2022. Retrieved January 19, 2022.

[2] "Federal Register :: Agencies - National Economic Council".

[3] "National Economic Council". The White House. Retrieved January 19, 2022.

[4] "Should you be the next Larry Summers? | Fortune.com". February 2, 2017. Archived from the original on 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).

[8] "National Economic Council Membership, U.S Government Manual".

[9] "The National Economic Council, The White House Transition Project" (PDF).

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Authority control databases
International	VIAF 2
National	United States 2 Israel

History and mission

Structure and membership

Directors of the National Economic Council

References

Further reading

External links