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Conversation 426-010

TapeTape 426StartThursday, March 29, 1973 at 5:11 PMEndThursday, March 29, 1973 at 5:13 PMParticipantsNixon, Richard M. (President);  Shultz, George P.Recording deviceOld Executive Office Building
AI Summary

President Nixon and George Shultz discuss the administration's policy on price ceilings, aiming to maintain them indefinitely until consumer food prices decrease. Nixon emphasizes the importance of public rhetoric, instructing Shultz to signal that the ceilings will persist as long as necessary to stabilize the market. The two also coordinate their schedules for an upcoming meeting and a follow-up telephone call.

Price controlsInflationEconomic policyFood pricesExecutive scheduling
AudioNARA Description

On March 29, 1973, President Richard M. Nixon and George P. Shultz met in the President's office in the Old Executive Office Building from 5:11 pm to 5:13 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 426-010 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 426-10 (cont’d)
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 Do not cite this transcript as authoritative.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.
George, I just wanted to know in terms of, as I understand, with our ceiling deal, we plan to keep it in effect indefinitely.
The purpose is to keep it in effect until the prices are down.
Can I say that?
Yeah, yeah, I got that.
Well, like I said, these prices must, the way you've got it, these prices must not go higher.
With the help of the housewife and the farmer, they can and should go down.
And I want to add this sentence.
The ceiling will remain in effect as long as it's necessary to do the job.
You've got to keep prices down.
Too strong.
Okay.
Okay.
Bye.
Yeah.
Yeah.
Oh, yeah.
Get me the two names.
You'll come over, and then maybe while you're there, I'll make the call.
Well, that's right.
We're meeting in the morning.
And if we've got time, your meeting comes first.
But if we get through before, I'll make the call.
Thanks, George.
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