Nixon White House Tapes › Tape 2 › Conversation 002-082
Nixon phone call with Burns on International monetary policy
Tuesday, May 4, 1971 · 8:08 PM–8:10 PM ET · White House Telephone · 2 min
AI Summary
President Nixon and Federal Reserve Chairman Arthur F. Burns discussed the escalating international monetary crisis and the need for the administration to formalize a concrete policy strategy. Nixon pushed Burns, Paul Volcker, and Paul McCracken to develop a proactive plan rather than continuing to delay action, despite Burns' preference for postponing significant changes until later in the year. The President directed Burns to coordinate with Treasury Secretary John B. Connally regarding their ongoing communication with foreign officials.
- International monetary policy
- Arthur F. Burns
- John B. Connally
- Economic planning
- Paul Volcker
- Federal Reserve
Audio
Transcript (AI-generated)
This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Names and numbers are often wrong; speakers are not identified. Do not cite it as authoritative — verify against the audio and the finding aid.
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NARA Description
On May 4, 1971, President Richard M. Nixon and Arthur F. Burns talked on the telephone from 8:08 pm to 8:10 pm. The White House Telephone taping system captured this recording, which is known as Conversation 002-082 of the White House Tapes.
Nixon Library Finding Aid
Conversation No. 2-82
Date: May 4, 1971
Time: 8:08 pm - 8:10 pm
Location: White House Telephone
The President talked with Arthur F. Burns.
John B. Connally's statement on monetary policy
-Revaluation
-Burns’ conversation with foreign official
-Crisis
International monetary situation
-Paul A. Volcker
-Paul W. Mccracken
-Administration's possible policy
-Plan
-Burns’ forthcoming call to Connally
-Quadriad meetingAlso recorded on May 5, 1971
- 002-081 8:02 PM · 8 sec — President Richard M. Nixon and the White House operator talked on the telephone at 8:02 pm.
- 491-014 9:35 AM · 38 min — President Richard M. Nixon and H. R. ("Bob") Haldeman met in the Oval Office of the White House from 9:35 am to 10:15 am.
- 002-083 10:15 AM · 5 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 10:15 am and 10:30 am.
- 002-084 10:15 AM · 2 min — President Richard M. Nixon and Harry F. Byrd, Jr. talked on the telephone at an unknown time between 10:15 am and 10:30 am.
- 002-085 10:15 AM · 5 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 10:15 am and 10:30 am.
- 491-015 10:15 AM · 9 sec — President Richard M. Nixon and the White House operator met in the Oval Office of the White House at an unknown time between 10:15 am and 10:27 am.
- 491-016 10:15 AM · 2 min — President Richard M. Nixon and Harry F. Byrd, Jr. met in the Oval Office of the White House at an unknown time between 10:15 am and 10:27 am.
- 491-017 10:15 AM · 7 sec — President Richard M. Nixon and the White House operator met in the Oval Office of the White House at an unknown time between 10:15 am and 10:27 am.
Cite this conversation
Conversation 002-082, May 5, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/002-082 (accessed October 12, 2026).