The White House Council of Economic Advisers (CEA) was created by Congress in 1946 to advise the president on ways “to foster and promote free competitive enterprise” and “to promote maximum employment, production and purchasing power.” President Truman, who signed the Employment Act of 1946 into law, was unenthusiastic about the Council and didn’t nominate members for nearly six months. Yet the CEA, comprised of three individuals whom Congress says are to be “exceptionally qualified,” has not only survived but also prospered for 70 years and remains an important part of the president’s economic policy decisionmaking.
On February 11, the Hutchins Center on Fiscal and Monetary Policy at Brookings will mark this anniversary by examining the ways the CEA and other economists succeed and fail when they set out to advise elected politicians and tap the expertise of some of the “exceptionally qualified” economists who have chaired the Council over the past four decades.
Event Agenda:
Welcome:
* Jason Furman, Chairman, The White House Council of Economic Advisors, Former Senior Fellow & Director of the Hamilton Project, The Brookings Institution
* David Wessel, Director, The Hutchins Center on Fiscal and Monetary Policy, Senior Fellow, Economic Studies
Opening Remarks:
* Roger Porter, IBM Professor of Business and Government, Mossavar-Rahmani Center for Business and Government, The John F. Kennedy School of Government at Harvard University
Panel 1: The CEA in Moments of Crisis:
* Moderator: David Wessel, Director, The Hutchins Center on Fiscal and Monetary Policy, Senior Fellow, Economic Studies
* Alan Greenspan, President, Greenspan Associates, LLC,,Former CEA Chairman (Ford: 1974-1977)
* Austan Goolsbee, Robert P. Gwinn Professor of Economics, The Booth School of Business at the University of Chicago
* Glenn Hubbard, Dean & Russell L. Carson Professor of Finance and Economics, Columbia Business School, Former CEA Chairman (GWB: 2001-2003)
* Alan Krueger, Bendheim Professor of Economics and Public Affairs, Princeton University, Former CEA Chairman (Obama: 2011-2013)
Panel 2: The CEA and Policymaking:
* Moderator: Ruth Marcus, Columnist, The Washington Post
* Katharine Abraham, Director, ,Maryland Center for Economics and Policy, Professor, The University of Maryland
* Martin Neil Baily, Senior Fellow, Economic Studies, Bernard L. Schwartz Chair in Economic Policy Development
* Martin Feldstein, George F. Baker Professor of Economics, Harvard University
* Randall Kroszner. Norman R. Bobins Professor of Economics - The University of Chicago Booth School of Business
Panel 3: Current Economic Policy Issues:
* Alan Murray, Editor, Fortune Magazine
* Ben S. Bernanke, Distinguished Fellow in Residence, Economic Studies
* Michael Boskin, Senior Fellow, Hoover Institution, T.M. Friedman Professor of Economics, Stanford University
* Maurice Obstfeld, Class of 1958 Professor of Economics, University of California, Berkeley, Chief Economist, International Monetary Fund
* Joseph Stiglitz, University Professor, Columbia University, Former CEA Chairman,(Clinton: 1995-1997)
Concluding Comments
* Jason Furman, Chairman, The White House Council of Economic Advisors, Former Senior Fellow & Director of the Hamilton Project, The Brookings Institution
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