White House National Economic Council

In 1993, President Clinton created, via Executive Order, the National Economic Council (NEC). It is a United States government agency situated within the Office of Policy Development, which is in the Executive Office of the President. The NEC was created to advise the President on matters related to U.S. and global economic policy.

The Director of the NEC is also Assistant to the President for Economic Policy. This appointment does not have to be confirmed by the Senate.

The NEC has four principal functions:

1. to coordinate policy-making for domestic and international economic issues;
2. to coordinate economic policy advice for the President;
3. to ensure that policy decisions and programs are consistent with the President's economic goals;
4. to monitor implementation of the President's economic policy agenda.

Membership of the NEC includes numerous Administration department and agency heads whose policy jurisdictions affect the nation's economy.

Related Executive Bodies

Domestic Policy Staff (1977-1992)
Established in the Executive Office of the President by Reorganization Plan 1 of 1977 to assure that the needs of the President for prompt and comprehensive advice were met with respect to matters of economic and domestic policy. A staff authorization was initially established in 1978 (92 Stat. 2448). Headed by an executive director, who was an assistant to the President, the Domestic Policy Staff was incorporated into the Office of Policy Development in 1981. It was abolished in a February 1992 presidential statement.

Office of Policy Development (1981-1992; 1996- )
A renamed Domestic Policy Staff, the Office of Policy Development continued to advise and assist the President in the formulation, coordination, and implementation of economic and domestic policy. Headed by the assistant to the President for economic and domestic policy, it was abolished in February 1992 by the President’s reorganization statement, effective May 1992. Reinstituted in 1996 to consist of the Domestic Policy Council, established in 1993 by E.O. 12859, and the National Economic Council, created in 1993 by E.O. 12835.

Domestic Council (1970-1977; 1993- )
Established in the Executive Office of the President by Reorganization Plan 2 of 1970 to formulate and coordinate domestic policy recommendations for the President. Chaired by the President, the council included among its members the Vice President; the Attorney General; the Secretary of Agriculture; the Secretary of Commerce; the Secretary of Health, Education, and Welfare; the Secretary of Housing and Urban Development; the Secretary of the Interior; the Secretary of Labor; the Secretary of Transportation; the Secretary of the Treasury; and such other officers of the executive branch as the President might direct. The council was abolished by Reorganization Plan 1 of 1977 and its functions were transferred to the Domestic Policy Staff. The council was recreated with E.O. 12859 of August 16, 1993, and was included within the Office of Policy Development when it was reinstituted in 1996.

NEC Directors

• Robert Rubin (1993-1995)
• Laura D'Andrea Tyson (1995-1996)
• Gene Sperling (1996-2000)
• Lawrence Lindsey (2001-2002)
• Stephen Friedman (2002-2005)
• Allan Hubbard (2005-2007)
• Keith Hennessey (2007-2009)
• Lawrence Summers (2009- )

Deputy Directors for Domestic Affairs

• Gene Sperling (1993-1996)
• Sally Katzen (1998-1999)
• William Dauster (1999-2000)
• Sarah Rosen Wartell (2000)
• D. Marc Sumerlin (2001-2002)
• Keith Hennessey (2002-2007)
• Charles Blahous III (2007-2008)

Deputy Directors for International Affairs

• Daniel Tarullo (1993-1998)
• Lael Brainard (1998-2000)
• Gary Edson (2001- )

Sources:

• The Executive Office of the President: An Historical Overview (PDF)
• White House Statement
• Wikipedia