Council of Economic Advisors

Council of Economic Advisors

A committee of three members charged with advising the President of the United States on economic matters. Among its duties are helping the President formulate policy, interpreting data, and generally serving as the White House's resident experts on the economy. Each year, the Council prepares a report, which gives information on the state of the economy of the previous year and contains predictions for the coming year. The Council consists of a chairperson and two members, who are appointed by the President upon approval by the Senate. It has been the subject of criticism at times because political considerations have been known to color its reports.

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Council of Economic Advisors (CEA). The Council of Economic Advisors' job is to assist and advise the president of the United States on economic policy. The CEA differs from other government agencies in its academic orientation and emphasis on contemporary developments in economic thought.

The Council consists of a chairman and two staff members, appointed by the president and confirmed by the Senate, plus a staff of about ten economists and ten younger scholars. The Council's chairman frequently speaks on behalf of the administration on economic issues and policies.