The National Economic Council is a team of individuals who advise the President of the United States on economic matters. It operates within the Office of Policy Development, established by the President in 1993.
The National Economic Council (NEC) is a division of the Office of Policy Development (OPD) within the Executive Office of the President. Established in 1993 through Executive Order 12859, the NEC provides guidance to the President on matters of economic policy and facilitates coordination among various government agencies involved in policy-making. It collaborates closely with the Domestic Policy Council, which focuses on social policy matters. For instance, the NEC may offer recommendations to the President on strategies to stimulate economic growth, reduce unemployment, or address income inequality. Additionally, it collaborates with entities such as the Department of Treasury, the Federal Reserve, and other agencies to implement economic policies. Overall, the NEC holds a significant role in shaping the economic policies of the United States government.
The National Economic Council is a government agency in the United States that advises the President on economic policy.
The NEC’s role is to coordinate economic policy-making and provide economic advice to the President.
The NEC is typically chaired by the President’s chief economic advisor, who is a senior member of the President’s staff.
The NEC addresses a wide range of economic issues, including fiscal policy, monetary policy, trade policy, and regulatory policy.
The NEC works closely with other government agencies, such as the Treasury Department, the Federal Reserve, and the Department of Commerce, to develop and implement economic policies.
The NEC does not have decision-making authority, but it plays a key role in shaping economic policy and advising the President on economic matters.
The public can interact with the NEC through public hearings, public comment periods on proposed policies, and through advocacy groups that engage with the NEC on economic issues.
The NEC works closely with Congress to develop and implement economic policies, and its members may testify before congressional committees on economic matters.
As a government agency, the NEC may be subject to legal challenges, but its specific legal status and immunity may vary depending on the circumstances.
The NEC’s activities and policies are often reported in the news media, and the agency may also publish reports and other materials on its website for public access.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/national-economic-council/
- Modern Language Association (MLA):National Economic Council. dlssolicitors.com. DLS Solicitors. May 09 2024 https://dlssolicitors.com/define/national-economic-council/.
- Chicago Manual of Style (CMS):National Economic Council. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/national-economic-council/ (accessed: May 09 2024).
- American Psychological Association (APA):National Economic Council. dlssolicitors.com. Retrieved May 09 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/national-economic-council/
Our team of professionals are based in Alderley Edge, Cheshire. We offer clear, specialist legal advice in all matters relating to Family Law, Wills, Trusts, Probate, Lasting Power of Attorney and Court of Protection.
All author posts