The records, part of National Archives Record Group 459, consist of files accumulated during the Ford administration by Chairman Alan Greenspan, members Gary L. Seevers, William J. Fellner, Paul W. MacAvoy, and Burton G. Malkiel, and staff economists. The records document the Council's interest in a wide range of domestic and international economic policy topics, and include some files retained from the Nixon administration.

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The Council of Economic Advisers, established within the Executive Office of the President by the Employment Act of 1946, provided economic analysis and advice to the President and assisted him in developing and evaluating economic policies. The CEA consisted of a chairman and two members appointed by the President, with the advice and consent of the Senate and a supporting cast of economists, consultants, and assistants. They prepared regular reports on current economic conditions, forecasted future economic developments, and submitted recommendations for consideration in the formation of economic policy. CEA statistics and analyses on the performance of the nation's economy were published in the annual Economic Report of the President, which also included the "Annual Report of the CEA." The Council also prepared the monthly publication Economic Indicators. In carrying out its duties, the Ford CEA worked closely with federal agencies and departments, often participating in interagency groups.

The Role of the Ford CEA
Since its creation, the effectiveness of the CEA in shaping national economic policy has varied depending on the needs of the President and his relationship with the chairman. During the Ford administration, the Council played an active and direct advisory role. Chairman Alan Greenspan served as one of President Ford's chief advisers on domestic and international economic policy. He was a member of the Executive Committee of both the Economic Policy Board (EPB) and the Energy Resources Council. He headed the US delegation to the Economic Policy Committee of the Organization for Economic Cooperation and Development (OECD) and served as vice-chairman of that committee. He also participated in a series of "Troika" working groups, comprised of representatives of the CEA, the Treasury and the Office of Management and Budget, which evaluated economic performance and formulated detailed economic forecasts. Greenspan was aided by special assistant John Davis.

Council members coordinated their work with the chairman, assumed special subject area responsibilities, and supervised the work of the staff. Gary L. Seevers, succeeded in 1975 by Paul W. MacAvoy, assumed responsibility for the following areas:

  • energy and natural resources
  • commodity trade issues
  • food and agriculture
  • environmental problems
  • urban and national growth policy
  • transportation
  • regulatory reform
  • antitrust
  • health, education and welfare (MacAvoy, 1976 only)

Seevers and MacAvoy served as chairmen of the EPB's Food Deputies Group, and MacAvoy was co-chairman of the Domestic Council group on regulatory reform.

William J. Fellner, succeeded in 1975 by Burton G. Malkiel, assumed responsibility for the following areas:

  • business conditions analysis
  • short-term forecasting
  • monetary and fiscal policy
  • international trade and finance
  • manpower employment and labor market development
  • financial markets
  • housing
  • taxation and social security
  • health, education and welfare

Malkiel was chairman of a "Troika" sub-group and of the EPB Subcommittee on Economic Statistics, and served on the Economic Policy Committee of the OECD.

Senior and junior staff economists and statisticians supported the Council by conducting much of the basic research. Staff economists worked closely with a particular Council member and were responsible for research and reporting in specific subject areas. Staff members and their responsibilities were listed each year in the CEA's Annual Report.

The CEA Records
These records consist of files accumulated by President Ford's Council members and staff, and include some materials pre-dating his administration. The records are arranged under the name of the CEA member who accumulated them, with staff files placed at the end of the collection. Various materials originated by one CEA member may appear in the files of his successor.

The collection is a rich resource, documenting the direct involvement of the CEA in economic policymaking; contacts with business leaders, lobbyists, and economists from universities, federal agencies, and international organizations; the work of interagency groups; and the Council's detailed research on micro and macro economic policy issues. The records document CEA analysis and policy recommendations in such areas as agricultural and food policy, housing construction, environmental and energy policies, supplies of strategic materials, exploitation of ocean resources, management of timber resources, transportation problems and policies, functioning of the labor market and problems of the unemployed, proposals for health insurance and income maintenance, and needed improvements in government economic statistics.

Prior to the Ford administration, records generated by the chairman and members were considered personal papers to be disposed of as they chose. In March 1977, the National Archives accessioned the Council files as federal records and deposited them in the Gerald R. Ford Library. Portions of files of declined invitations and unanswered correspondence were appraised and disposed of as valueless. The Library received a large accretion of records of junior and senior staff economists in 1982.

Related Materials (February 1995)
Extensive additional material concerning economic policy during the Ford administration may be found in various Library collections, particularly those of Assistant to the President for Economic Affairs L. William Seidman, Federal Reserve Board Chairman Arthur Burns, and Secretary of the Treasury William Simon. The papers of Paul W. McCracken, a CEA member during the Eisenhower administration and chairman for a portion of the Nixon administration, Gardner Ackley, a member and chairman during the Kennedy and Johnson administrations, and Warren L. Smith, a member during the Johnson administration, have been deposited in the Bentley Historical Library of the University of Michigan.

Extent

70.4 linear feet (ca. 140,800 pages)

Record Type
Textual
Donor

Council of Economic Advisers (accession numbers 78-62, 79-1, and 83-4)

Last Modified Date
Collection Type
Federal Records
Access

Open. Some items are temporarily restricted under terms of the general restrictions of the National Archives, a copy of which is available on request. The records are subject to the provisions of the Freedom of Information Act (5 U.S.C. 552).

Copyright

Works prepared by U.S. Government employees as part of their official duties are in the public domain. The copyrights to materials written by other individuals or organizations are presumed to remain with them.

Processed by

Paul Conway, September 1979; Revised by: Paul Conway, May 1983; William McNitt, February 1995
 

Biography

Alan Greenspan

Alan Greenspan was appointed by President Nixon but was not confirmed by the Senate until September 10, 1974, succeeding Herbert Stein as chairman. He was educated at New York University and was president of Greenspan-Townsend and Company, Inc. of New York, an economic consulting firm. Considered one of the nation's foremost economic forecasters, he served as consultant to numerous government organizations and private corporations and was active with the Nixon for President Committee in 1968. In January 1977, he returned to the presidency of his corporation.

Gary L. Seevers

Gary L. Seevers became a member of the CEA on July 23, 1973, replacing Ezra Solomon, who had resigned in March. Prior to his appointment he had served the CEA as a senior staff economist from 1970 to 1972 and as special assistant to Chairman Stein from 1972 to 1973. He received his education at Michigan State University and taught agricultural economics for two years at Oregon State University before joining the Council. Seevers remained a member until April 1975, when President Ford appointed him to the newly created Commodity Futures Trading Commission.

William J. Fellner

William J. Fellner became a Council member on October 31, 1973. He replaced Marina von Neuman Whitman, who had served since March 1972. While on the Council, he was on leave from the American Enterprise Institute (AEI), where he had been resident scholar. Fellner was born in Budapest, Hungary, and educated in European universities. His primary professional interests included economic theory, forecasting and policy, especially international economic reform. Fellner served until February 1975, when he resigned to resume his work with the AEI.

Paul W. MacAvoy

Paul W. MacAvoy became a member of the CEA on June 13, 1975, succeeding Gary Seevers. MacAvoy was educated at Yale University and taught economics at the University of Chicago and Massachusetts Institute of Technology. During the Johnson administration, he served briefly as senior staff economist on the Council and then served from 1969 to 1972 as a member of New York's Council of Economic Advisers. Prior to his appointment, MacAvoy had worked with the Energy Policy Studies Group at the MIT Energy Laboratory and had published works on regulatory reform. MacAvoy served on the Council until November 1976, when he resigned to join the faculty of Yale University.

Burton G. Malkiel

Burton G. Malkiel became a Council member on July 22, 1975, succeeding William Fellner. Educated at Harvard and Princeton, he joined the latter's faculty upon graduation. As a specialist in monetary economics, theories of capital markets and corporate finance, Malkiel directed Princeton's Financial Research Center. He served on the Council to the end of the Ford administration, thereafter joining the American Enterprise Institute. The Council of Economic Advisers, established within the Executive Office of the President by the Employment Act of 1946, provided economic analysis and advice to the President and assisted him in developing and evaluating economic policies. The CEA consisted of a chairman and two members appointed by the President with the advice and consent of the Senate, and a supporting staff of economists, consultants and assistants. They prepared regular reports on current economic conditions, forecasted future economic developments and submitted recommendations for consideration in the formation of economic policy. CEA statistics and analyses on the performance of the nation's economy were published in the annual "Economic Report of the President", which also included the "Annual Report of the CEA." The Council also prepared the monthly publication "Economic Indicators." In carrying out its duties, the Ford CEA worked closely with federal agencies and departments, often participating in inter-agency groups.