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Simple English definitions for legal terms
Council of Economic Advisers
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A quick definition of Council of Economic Advisers:
The Council of Economic Advisers (CEA) is a group of three people who work for the President of the United States. Their job is to study and understand how the economy is doing and give advice to the President about what to do to make it better. The CEA was created in 1946 and is still around today. The President picks the members of the CEA and they have to be approved by the Senate.
A more thorough explanation:
The Council of Economic Advisers (CEA) is a group of three people who work in the Executive Office of the President. They are responsible for studying the national economy and giving advice to the President about economic issues.
The CEA was created in 1946 by the Employment Act. It now operates under Reorganization Plan No. 9 of 1953. The President chooses the members of the CEA, but they must be approved by the Senate.
For example, if the President wants to know how a new tax law will affect the economy, they might ask the CEA for advice. The CEA would study the law and give the President their opinion.
Another example is if the President wants to know if the country is in a recession. The CEA would look at data like unemployment rates and GDP to determine if the economy is in a recession.
These examples show how the CEA helps the President make informed decisions about the economy.