A hallmark of the ethos of the CEA is the pride that its staff members take in providing objective analysis. That devotion first and foremost to objectivity has led to the interesting phenomenon that, while the overall economic views of Administrations have swung widely, the policy advice given by their successive CEAs has undergone far smaller swings.
The growth rate of the U.S. population (variable N16 in the FRB/US model) is assumed to climb over the course of a year to a pace that is 1 percentage point faster than in the baseline, with commensurate effects on the labor force, employment, potential output, and actual output.