Feb 11

Past Event

The Council of Economic Advisers: 70 years of advising the president

Event Materials



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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 marked 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.

You can join the conversation and tweet questions for the panelists at #CEAat70.

former CEA chairs and members

Event Agenda

  • 2:00 - 2:05


    • Furman

      Jason Furman


      The White House Council of Economic Advisors

      Former Senior Fellow & Director of the Hamilton Project

      The Brookings Institution

  • 2:05 - 2:20

    Opening Remarks

    • Porter

      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

  • 2:20 - 3:05

    Panel 1: The CEA in Moments of Crisis

    • Moderator

    • greenspan

      Alan Greenspan


      Greenspan Associates, LLC

    • Goolsbee

      Austan Goolsbee

      Robert P. Gwinn Professor of Economics

      The Booth School of Business at the University of Chicago

    • Hubbard

      Glenn Hubbard

      Dean & Russell L. Carson Professor of Finance and Economics

      Columbia Business School

    • Krueger

      Alan Krueger

      Bendheim Professor of Economics and Public Affairs

      Princeton University

  • 3:05 - 3:15


  • 3:15 - 4:00

    Panel 2: The CEA and Policymaking

    • Moderator


      Ruth Marcus


      The Washington Post

    • Abraham

      Katharine Abraham


      Maryland Center for Economics and Policy


      The University of Maryland

    • Portrait: Martin Baily

      Martin Neil Baily

      Senior Fellow, Economic Studies

      Bernard L. Schwartz Chair in Economic Policy Development

    • Feldstein

      Martin Feldstein

      George F. Baker Professor of Economics

      Harvard University

    • Kroszner

      Randall Kroszner

      Norman R. Bobins Professor of Economics

      The University of Chicago Booth School of Business

  • 4:00 - 4:45

    Panel 3: Current Economic Policy Issues

    • Moderator


      Alan Murray


      Fortune Magazine

    • Ben S. Bernanke

      Distinguished Fellow in Residence, Economic Studies

    • Boskin

      Michael Boskin

      Senior Fellow

      Hoover Institution

      T.M. Friedman Professor of Economics

      Stanford University

    • Obstfeld

      Maurice Obstfeld

      Class of 1958 Professor of Economics

      University of California, Berkeley

      Chief Economist

      International Monetary Fund

    • Stiglitz

      Joseph Stiglitz

      University Professor

      Columbia University

  • 4:45 - 5:00

    Concluding Comments

    • Furman

      Jason Furman


      The White House Council of Economic Advisors

      Former Senior Fellow & Director of the Hamilton Project

      The Brookings Institution


February 11, 2016

2:00 PM - 5:00 PM EST

Brookings Institution

Falk Auditorium

1775 Massachusetts Avenue NW


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