The information normally contained in the Economic Report of the President includes:

• Current and Foreseeable Trends: Statistics and forecasts on topics such as employment, production, real income and Federal budget outlays.


• Labor Force Outlook: Employment objectives for significant groups of the labor force.


• Annual Numerical Goals: More or less specific objectives for relevant economic variables.


• Place of Action: Public policies designed to carry out program objectives.

Included in the Economic Report of the President is the Annual Report of the Council of Economic Advisers. This is a report on its activities during the previous calendar year in accordance with the requirements of the Congress.

The Council of Economic Advisers includes three members who are appointed by the President, by and with the advice and consent of the Senate. The President designates one of the members as Chairman.

A Distinguished Cast

• N. Gregory Mankiw: He is a well-respected Professor of Economics at Harvard University, a prolific writer and a regular participant in academic and policy debates.


• Joseph E. Stiglitz: He shared the Nobel Prize in Economics in 2002 for his analyses of markets with asymmetric information.


• Martin Feldstein: He also served as President of the National Bureau of Economic Research and is noted for his work on the study of tax policies and the federal deficit.


• Alan Greenspan: He is most noted as Chairman of the Board of Governors of the Federal Reserve System. He has also served as Chairman of the Conference of Business Economists, President and Fellow of the National Association of Business Economists, and Director of the National Economists Club.


• Arthur F. Burns : In addition to his work on business cycles at the National Bureau of Economic Research, he also spent a little time as Chairman of the Federal Reserve System, President of the NBER, President of the American Economic Association, and even U.S. Ambassador to Germany.