National Economic Council NEC

President Clinton created the National Economic Council by executive order on January 25, 1993, days after taking office, to coordinate economic policy the way the National Security Council coordinates foreign policy. Its first director was Robert Rubin, who later became Treasury Secretary. Members include the President, the Vice President, and the cabinet secretaries and agency heads with economic responsibilities.

Unlike the Council of Economic Advisers, which provides economic analysis, the NEC is a policy coordination body. Its director, an Assistant to the President who does not require Senate confirmation, is expected to act as an honest broker, gathering views from Treasury, Commerce, Labor, the Office of Management and Budget, the Trade Representative, and others, framing options for the President, and making sure decisions are carried out.

The NEC director is often among the most visible economic officials in an administration and frequently negotiates with Congress on tax, budget, and spending legislation. Directors have included Lawrence Summers, Gary Cohn, Larry Kudlow, Brian Deese, Lael Brainard, and Kevin Hassett. How much the NEC drives policy, rather than Treasury or the President's inner circle, varies widely from one administration to the next.