National Economic Council: Difference between revisions

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 of the United States|Cabinet]] officials, and forms part of the [[White House Office|Office of Policy Development]]<ref>{{Cite web |title=The National Economic Council |url=https://www.manufacturing.gov/partners/national-economic-council |url-status=dead |archive-url=https://web.archive.org/web/20220926055557/https://www.manufacturing.gov/partners/national-economic-council |archive-date=2022-09-26 |access-date=2022-01-19 |website=Advanced Manufacturing National Program Office}}</ref> which is within the [[Executive Office of the President of the United States]].<ref>{{Cite web|title=Federal Register :: Agencies - National Economic Council|url=https://www.federalregister.gov/agencies/national-economic-council}}</ref> 

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 of the United States government|agencies]] across the [[Federal government of the United States|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 [[United States Domestic Policy Council|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<ref>{{Cite web|title=National Economic Council|url=https://www.whitehouse.gov/nec/|access-date=2022-01-19|website=The White House|language=en-US}}</ref> was created on January 25, 1993 by [[Executive order|Executive Order]] [[wikisource:Executive_Order_12835|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.<ref>{{Cite web|date=2017-02-02|title=Should you be the next Larry Summers? {{!}} Fortune.com|url=http://finance.fortune.cnn.com/2010/09/22/should-you-be-the-next-larry-summers/#more-3151|access-date=2022-01-19|archive-url=https://web.archive.org/web/20170202070321/http://finance.fortune.cnn.com/2010/09/22/should-you-be-the-next-larry-summers/#more-3151 |archive-date=February 2, 2017 }}</ref> 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.<ref>{{Cite web|date=2016-04-21|title=The National Economic Council: A Work in Progress|url=https://www.piie.com/bookstore/national-economic-council-work-progress|access-date=2022-01-19|website=PIIE|language=en}}</ref>