Council of Economic Advisers

From Freepedia

The Council of Economic Advisers is a group of economists set up to advise the President of the United States. It is a part of the Executive Office of the President of the United States, and provides much of the economic policy of the White House. Its current chairman is Ben Bernanke, whom President Bush recently nominated to succeed Alan Greenspan as Chairman of the Federal Reserve. The other two seats on the council are presently vacant, but it has recently been reported that Bush is planning to nominate Katherine Baicker and Matthew Slaughter, both of whom are economists at Dartmouth College. Members are nominated by the President and approved by the Senate.

The recent past chairs of the Council are:

Janet Yellen 1997 - 1999
Martin N. Baily 1999 - 2001
R. Glenn Hubbard 2001 - 2003
N. Gregory Mankiw 2003 - 2005

Other influential past members are

Otto Eckstein 1964-1966
Alan Greenspan 1974 - 1977 (chair)
Paul Krugman 1982 - 1983
Joseph E. Stiglitz 1993 - 1997 (chair from 1995 - 1997)
Laura D'Andrea Tyson 1993 - 1995 (chair)

The Council of Economic Advisers was established by the Employment Act of 1946 to provide the President with objective economic analysis and advice on the development and implementation of a wide range of domestic and international economic policy issues. Every year the Council is instrumental in preparing the Economic Report of the President. The staff of the council includes about 20 academic economists, plus four permanent economic statisticians.