What is the Council of Economic Advisors?

In 1946, the United States approved a job Act, which was created, among other things, a special Presidential Advisory Committee entitled Council for Economic Advisors (CEA). This Council would consist of three members, one of whom to chair the Council, and each advisor would decide on the presidential appointment, which then had to be confirmed by the US Senate. In the overview, the main objective of the Council of Economic Advisors was to evaluate the economy and government programs and how they influenced the economy. From this analysis they reported to the President and advised and helped develop economic policy on the basis of their findings.

In addition to the main leaders of the Council of Economic Advisors, CEA has great staff. Trained and respected economists, often those who have postgraduate titles in economics from well -known universities, fulfill the position of employees. There are usually 20 highly educated economists about employees and their work is to accumulate as much information as possible to help the Council give the President a complete overview of the economy.CEA also employs four statistics to evaluate “numbers” concerning these economists.

One thing the US President must do is to provide economic reports annually and these reports are created through the Council for Economic Advisors. These reports take into account current trends in the economy that collect the Council. Moreover, the Council of Economic Advisors must assess how current economic trends are positively or adversely affected or relatively influenced by current government policies in the economy, which may cause changes in the law or the president's urging of temporary laws, discounts and the like to stimulate the economy.

Given that members of the Council for Economi -groups are created by the presidential appointment, in the existence of the Council and its work are some inherent shortcomings. Economic assessment can lead to several interpretations and these InterpRettations tend to fall along the lines of political parties. In addition, it may be a recommendation to take steps to change the economy or approval of new legislation to change economic policy, based on the economic philosophy of the President's political party, resulting in proposed solutions or changes that may not be supported by a political party that does not hold the Presidency.

It is a bit more complicated, because even the analysis of the current economic condition and trends can be interpreted in different ways. How the economy is displayed and interpreted can affect what recommendations. The President who is trying to make an economic view of the country less bleak could prepare an economic report with the Economic Advisory Council, which focuses on small areas that is flourishing, and any reported reports may be partly in a way to reverse the facts or introduce facts in light that will not please the other political party. Proposed executive laws resultingThe CEA recommendations are not always accepted if there is a strong disagreement about the direction in which the government has to deal with the change or improvement of the economy, and especially if the President's political party is the opposite of the majority party in the US House of Representatives and the Senate.