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The National Economic Council (NEC) was established in 1993 to advise the President on U.S. and global economic policy. It is part of the Executive Office of the President. By Executive Order, the NEC has four key functions: to coordinate policy-making for domestic and international economic issues; to give economic policy advice to 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.
Working with many department and agency heads within the administration, the NEC Director coordinates and implements the President’s economic policy objectives. The Director is supported by a staff of policy experts in various fields including: infrastructure, manufacturing, research and development, small business, financial regulation, housing, technology and innovation, and fiscal policy.
President Biden has appointed Lael Brainard as the Director of the National Economic Council.