A more thorough explanation:

The National Economic Council (NEC) is a part of the Office of Policy Development (OPD) in the Executive Office of the President. It was created in 1993 by Executive Order 12859.

The NEC advises the President on economic policy and coordinates economic policy-making across different government agencies. It works closely with the Domestic Policy Council, which focuses on social policy issues.

For example, the NEC might advise the President on how to stimulate economic growth, reduce unemployment, or address income inequality. It might also work with the Department of Treasury, the Federal Reserve, or other agencies to implement economic policies.

Overall, the NEC plays an important role in shaping the economic policies of the United States government.