← 022-015022-017 →

Conversation 022-016

TapeTape 22StartFriday, March 24, 1972 at 1:28 PMEndFriday, March 24, 1972 at 1:29 PMTape start time00:52:08Tape end time00:53:00ParticipantsNixon, Richard M. (President);  White House operator;  Haldeman, H. R. ("Bob")Recording deviceWhite House Telephone
AI Summary

President Nixon and H. R. Haldeman discussed the administration's strategic response to a recent increase in the prime interest rate. Conveying advice from John B. Connally, Haldeman suggested that the administration publicly criticize the banks' justification for the hike, which cited anticipation of future demand. Nixon agreed with this stance, emphasizing that the rate increase was premature and that the administration preferred to see interest rates decline.

Interest ratesPrime rateJohn B. ConnallyEconomic policyBanking
AudioNARA Description

On March 24, 1972, President Richard M. Nixon, White House operator, and H. R. ("Bob") Haldeman talked on the telephone from 1:28 pm to 1:29 pm. The White House Telephone taping system captured this recording, which is known as Conversation 022-016 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 22-16

Date: March 24, 1972
Time: 1:28 pm - 1:29 pm
Location: White House Telephone

The White House operator talked with the President.

     Call from H. R. (“Bob”) Haldeman

Haldeman talked with the President between 1:28 pm and 1:29 pm.

[See Conversation No. 326-19B]

     Interest rates
           -[John B. Connally’s] advice
                 -Link with demand
           -Administration’s views
           -Prime rate
                 -Statement
                 -Increase
                       -Reasons
Transcript (AI-Generated)

This transcript was generated automatically by AI and has not been reviewed for accuracy. Do not cite this transcript as authoritative. Consult the Finding Aid above for verified information.

Yeah.
Mr. Haldeman, sir.
Yeah.
There you are.
Hello.
Yeah.
He says that if you want to take it strong, which he thinks you should, that you should say from the ticker reports you've seen, they say they're doing this in anticipation of increased demand.
This is a poor justification for raising rates, that they should wait until the demand develops.
We're still concerned about interest rates.
We'd like to see them go down instead of up.
That's right.
Apparently, the statement they put out, they said they were raising the prime rate in anticipation of increased demand.
Okay.
And he thinks that's not a... they should wait until they get it and then raise it.
Good.
Okay.
← 022-015022-017 →