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National Economic Council
National Economic Council
The White House
Washington, DC 20502
Stephen Friedman is Assistant to the President for Economic Policy and
Director of the National Economic Council (NEC). The NEC was established
in 1993 within the Office of Policy Development and is part of the
Executive Office of the President. It was created for the purpose of
advising the President on matters related to U.S. and global economic
policy. By Executive Order, the NEC has four principal functions: to
coordinate policy-making for domestic and international economic issues,
to coordinate economic policy advice for the President, to ensure that
policy decisions and programs are consistent with the President's economic
goals, and to monitor implementation of the President's economic policy
agenda.
The purview of the NEC extends to policy matters affecting the various
sectors of the nation's economy as well as the overall strength of the
U.S. and global macro-economies. Therefore, the membership of the NEC
comprises numerous department and agency heads within the administration,
whose policy jurisdictions impact the nation's economy. Director Friedman
works in conjunction with these officials to coordinate and implement the
President's economic policy objectives. He is also supported in his
capacity as an adviser to President Bush by a staff of policy specialists
whose expertise pertains to the council's specific areas of decision-making.
Included on this staff are two Deputy Assistants to the President, whose
responsibilities are divided between domestic and international economic
issues, the latter additionally reporting to the National Security Adviser.
Furthermore, the NEC staff is comprised of several Special Assistants to
the President who report to the Director on the following economic policy
issues: agriculture, commerce, energy, financial markets, fiscal policy,
healthcare, labor, and Social Security. A number of Special Assistants to
the President who report directly to the National Security Adviser
additionally support and coordinate with the NEC Director.
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