What is the National Economic Council?
The National Economic Council is a Federal agency that operates within the United States of America that is responsible for considering economic policy matters that are said to be separate from matters relating to domestic policy—which are primarily handled by the Domestic Party Council. The National Economic Council forms a fundamental part of the Office of White House Policy, which contains the National Economic Council, the DPC and various subordinate offices, such as the Office of National AIDS Policy.
National Economic Council Quick Facts:
The following details outline the administration of the National Economic Council:
The National Economic Council was created on January 25, 1993, through the Executive Order 12835.
The Director of the National Economic Council is titled the Assistant to the President for Economic Policy and Director of the National Economic Council.
The headquarters of the National Economic Council are located in the Eisenhower Executive Office Building in Washington, D.C.
The National Economic Council is comprised of several department and agency heads, each possessing administration over jurisdictions that impact the nation’s economy. The National Economic Council Director works in pair with these officials to coordinate and implement the President’s numerous economic policy objectives. Furthermore, the Director is supported by a staff of policy specialists in various fields including: commerce, energy, the financial markets, fiscal policy, agriculture, labor, healthcare and Social Security.
Gene Sperling is the current director of the National Economic Council
History of the Economic Council:
The National Economic Council, as stated before, was created on January 25, 1993 by Executive Order 12835; the National Economic Council was created to coordinate the general economic policy making process and to provide policy advice to the President.
The creation of the National Economic Council fulfilled a major campaign pledge of former President Bill Clinton to put the then current economic situation of the country at the forefront of federal policy making.
Functions of the National Economic Council:
The National Economic Council has four primary functions: to coordinate economic policy advice for the President of the United States, to coordinate policy-making decisions and processes for both domestic and international economic issues, to ensure that such policy decisions and procedures meet the President’s stated economic goals, and to monitor the implementation of such programs and decisions of the President’s overall policy agenda.
Government Agency of the Executive Branch:
Government agencies are defined as organizations, councils, and offices operating under the jurisdiction of the Federal Government of the United States of America; each federal agency retains specific administrative jurisdiction over specific facets latent within the operations of the United States Government.