Council of Economic Advisers


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Council of Economic Advisers

A group of economists appointed by the President of the United States to provide economic counsel and help prepare the president's budget presentation to Congress.

Council of Economic Advisers

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 of the Senate. It is the subject of criticism at times because political considerations have been known to color its reports.

Council of Economic Advisers

A group of three economists appointed by the President of the United States to advise the executive branch on domestic and foreign economic issues. The influence of the Council has varied widely depending upon the views of the President in office and the use he wishes to make of its advice.
References in periodicals archive ?
The Council of Economic Advisers, an agency within the Executive Office of the President, is charged with offering the President objective economic advice on the formulation of both domestic and international economic policy.
The Associated Press reports that David Sunding, who served on former President Bill Clinton's Council of Economic Advisers and currently an economics professor at the University of California-Berkeley, last week said the combination of rising energy prices and the demand for corn, which is used to produce ethanol, will continue to drive up commodity prices.
Mr Brown has appointed the Chief Rabbi Jonathan Sacks' daughter, Gila, to his council of economic advisers.
Feldstein was more spectacularly wrong as chairman of President Ronald Reagan's Council of Economic Advisers when he forecast an extraordinarily low growth rate for 1983 of 1.4 percent.
Greenspan, former chairman of President Gerald Ford's Council of Economic Advisers, served as head of a Social Security reform commission during the first Reagan administration, then took over the Fed from the great inflation buster Paul Volcker.
Niskanen is chairman of the Cato Institute and was a former member and acting chairman of President Reagan's Council of Economic Advisers.
The Columbia dean is a role model, having taken a leave of absence in 2001 to chair President Bush's Council of Economic Advisers. Currently, three Columbia business faculty members are on a one-year sabbatical for corporate jobs, including finance professor Laurie Hodrick, who is heading up equity research at Deutsche Bank.
Previously, she was a senior economist at the White House Council of Economic Advisers and a professor of economics at Brown University.
He was a member of the Council of Economic Advisers during the Clinton administration and was its chairman from 1995-97.
The other, a 1998 estimate prepared by the White House Council of Economic Advisers, concluded that the costs of implementing the protocol could be "as little as $7-12 billion a year in economic output, depending on the extent of international emissions trading allowed and the participation of developing countries."
Council of Economic Advisers, the White House expects the creation of approximately 2.6 million jobs in the United States during 2004.
The White House Council of Economic Advisers had predicted the economy would add 2.6 million new jobs by the end of the year, but last week it backed away from that forecast.

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