The Council of Economic Advisers is a three-member body inside the Executive Office of the President that gives the President objective, evidence-based advice on domestic and international economic policy. It analyzes economic trends, appraises federal programs, and prepares the annual Economic Report of the President. It is purely advisory and has no regulatory authority over outside parties.
Created by Congress under the Employment Act of 1946 (15 U.S.C. § 1023; Pub. L. 79-304, ch. 33, § 4, 60 Stat. 24), it acts within the authority that statute grants. Its actions are subject to judicial review and to congressional oversight and funding.
