Description
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 which is within the Executive Office of the President of the United States.
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.
