Harry S. Truman photo

Statement by the President Upon Nominating Edwin G. Nourse as a Member of the Council of Economic Advisers.

July 29, 1946

I HAVE TODAY nominated Mr. Edwin G. Nourse to be a member of the Council of Economic Advisers, provided for by the Employment Act of 1946, and purpose to designate him as chairman.

I consider that this act constitutes a distinct and vitally important new step in the history of this country. It is the function of the Council to formulate and recommend national economic policies to promote employment, production, and purchasing power under free competitive enterprise.

One of its primary functions is "fact-finding." It will piece together a complete and consistent picture of the economic state of the nation. The next function of the Council will be to interpret all available facts and then to present the soundest possible diagnosis as to the state of the nation's economic health.

Our country is capable of maintaining an economy free from the evils of both inflation and deflation. With such an economy, our country can go forward to greater heights of prosperity and full employment than have yet been achieved. This policy must be predicated upon a program of fair dealing and justice to all our people.

The Council will be in a position to present to the nation a clearer and more comprehensive analysis than we have ever had regarding the economic state of the nation and all factors which tend to retard prosperity.

Note: Earlier, at his news conference on July 25, the President announced the appointment of John D. Clark and Leon H. Keyserling as the other members of the Council.

The first report of the Council, dated and released by the White House on December 18, is printed in Senate Document 6 (80th Cong., 1st sess.).

Harry S. Truman, Statement by the President Upon Nominating Edwin G. Nourse as a Member of the Council of Economic Advisers. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/231941

Filed Under

Categories

Attributes

Simple Search of Our Archives