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Office of the Press Secretary

For Immediate Release June 28, 1995
            The President names Joseph Stiglitz as CEA Chair
                      and Alicia Munnell as Member

President Clinton today designated Joseph Stiglitz as Chair of the President's Council of Economic Advisors (CEA). He also intends to nominate Alicia Munnell as a member of the CEA. The appointments were announced today at the White House by Chief of Staff Leon Panetta.

Stiglitz has been a member of the Council since August of 1993.

"I am pleased to name Joe Stiglitz to this important post," the President said. "One of the nation's leading economists and educators, he has been an invaluable member of the CEA team over the past two years -- providing me with expert advice in economic and budgetary matters. I look forward to his confirmation."

"I am also pleased to name Alicia Munnell to the Council," the President continued. "I am confident her background, skills and expertise will provide objective, professional economic guidance and analysis."

The Council of Economic Advisors was established by Congress in the Employment Act of 1946. Every President since Harry Truman has looked to the CEA for independent economic analysis and advice. The CEA provides the President with advice on a range of issues including macroeconomic performance, labor market and wage trends, technology and productivity, international trade issues, environmental regulations, agriculture and resource management, the Clinton Administration's "reinventing government" efforts and the economic effects of extraordinary events such as California's Northridge earthquake.

Biographies of Joseph Stiglitz and Alicia Munnell are attached.