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Expanded The history section and added links and citations for the same
[td][/td] [td]==History==[/td]
[td]==History==[/td] [td]The Council of Economic Advisers (CEA) was formally established by the [[United States Congress|U.S. Congress]] through the [[Employment Act of 1946]], during [[Harry S. Truman|President Harry S. Trumanβ]]<nowiki/>s administration. Its creation marked a deliberate move away from the improvised economic policymaking of the wartime era toward a more structured and analytical approach. The Act authorized the formation of a three-member council within the [[Executive Office of the President of the United States|Executive Office of the President]], tasked with advising the President on economic trends, evaluating federal programs, and recommending national economic policies to promote employment, production, and purchasing power under a system of free competitive enterprise.[/td] [td][/td] [td]Initially, the CEA was designed to help the President prepare the annual Economic Report, analyze current and prospective economic developments, and assess how government activities aligned with national economic goals. Over time, the council became a key player in shaping [[Fiscal policy|fiscal policy,]] especially during periods of economic uncertainty. While it does not control monetary policyβthat responsibility lies with the Federal Reserveβthe CEA has historically supported Keynesian principles, such as deficit spending during recessions and policies that encourage free trade.[/td] [td][/td] [td]Throughout its history, the CEA has served under both Democratic and Republican administrations, maintaining a nonpartisan stance focused on empirical analysis. Many of its members have gone on to hold influential roles in economic governance, including positions at the [[Federal Reserve]] and the [[Treasury Department]]. The council continues to play a vital role in advising the President, particularly during economic crises, and remains a cornerstone of the Executive Branchβs economic strategy.<ref>{{Cite web |title=History of the CEA {{!}} CEA |url=https://bidenwhitehouse.archives.gov/cea/about/history-of-the-cea/ |access-date=2025-09-02 |website=The White House |language=en-US}}</ref><ref>{{Cite web |title=Council of Economic Advisers: Meaning and History |url=https://www.investopedia.com/terms/c/council_economic_advisors.asp |access-date=2025-09-02 |website=Investopedia |language=en}}</ref>[/td] [td][/td]
[td][/td] [td]=== Establishment ===[/td]
[td]=== Establishment ===[/td]
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[td][/td]Revision as of 08:14, 2 September 2025
[/td][td][/td] [td]==History==[/td]
[td]==History==[/td] [td]The Council of Economic Advisers (CEA) was formally established by the [[United States Congress|U.S. Congress]] through the [[Employment Act of 1946]], during [[Harry S. Truman|President Harry S. Trumanβ]]<nowiki/>s administration. Its creation marked a deliberate move away from the improvised economic policymaking of the wartime era toward a more structured and analytical approach. The Act authorized the formation of a three-member council within the [[Executive Office of the President of the United States|Executive Office of the President]], tasked with advising the President on economic trends, evaluating federal programs, and recommending national economic policies to promote employment, production, and purchasing power under a system of free competitive enterprise.[/td] [td][/td] [td]Initially, the CEA was designed to help the President prepare the annual Economic Report, analyze current and prospective economic developments, and assess how government activities aligned with national economic goals. Over time, the council became a key player in shaping [[Fiscal policy|fiscal policy,]] especially during periods of economic uncertainty. While it does not control monetary policyβthat responsibility lies with the Federal Reserveβthe CEA has historically supported Keynesian principles, such as deficit spending during recessions and policies that encourage free trade.[/td] [td][/td] [td]Throughout its history, the CEA has served under both Democratic and Republican administrations, maintaining a nonpartisan stance focused on empirical analysis. Many of its members have gone on to hold influential roles in economic governance, including positions at the [[Federal Reserve]] and the [[Treasury Department]]. The council continues to play a vital role in advising the President, particularly during economic crises, and remains a cornerstone of the Executive Branchβs economic strategy.<ref>{{Cite web |title=History of the CEA {{!}} CEA |url=https://bidenwhitehouse.archives.gov/cea/about/history-of-the-cea/ |access-date=2025-09-02 |website=The White House |language=en-US}}</ref><ref>{{Cite web |title=Council of Economic Advisers: Meaning and History |url=https://www.investopedia.com/terms/c/council_economic_advisors.asp |access-date=2025-09-02 |website=Investopedia |language=en}}</ref>[/td] [td][/td]
[td][/td] [td]=== Establishment ===[/td]
[td]=== Establishment ===[/td]
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