Nixon White House Tapes › Tape 5 › Conversation 005-066
Nixon phone call with an unidentified caller on Economic policy and Inflation
Monday, June 14, 1971 · 4:34 PM–6:46 PM ET · White House Telephone · 7 sec
AI Summary
President Nixon consulted with Office of Management and Budget Director George Shultz to review the current economic climate and address concerns regarding inflation and business confidence. The discussion focused on analyzing labor costs, productivity metrics, retail sales performance, and the complexities of monitoring unemployment trends, particularly regarding veterans. Nixon sought clarification on these economic indicators to better inform his upcoming meetings with the Quadriad and other advisors regarding potential wage and price control policies.
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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 Do not cite it as authoritative — verify against the audio and the finding aid.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 June 14, 1971, President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 4:34 pm and 6:46 pm. The White House Telephone taping system captured this recording, which is known as Conversation 005-066 of the White House Tapes.
Nixon Library Finding Aid
Conversation No. 5-66
Date: June 14, 1971
Time: Unknown between 4:34 pm and 6:46 pm
Location: White House Telephone
The President talked with the White House operator.
[See Conversation No. 519-16]
Call to George P. Shultz
Conversation
Conv. No. 5-66
No.
(cont.)
5-67
Date: June 14, 1971
Time: 6:46 pm - 6:57 pm
Location: White House Telephone
The President talked with George P. Shultz.
[See Conversation No. 519-17A]
President's schedule
-Meeting with Quadriad
-John B. Connally
Economy
-Expansion
-Inflation
-Arthur F. Burns’ figures
-Budget and monetary policy
-Wage and labor cost figures
-US businessmen's lack of confidence in US
-Burns’ opinion
-Previous meeting of Business Council
-Impact of increase in output per manhour on labor costs
-National City Bank report in H.R. (“Bob”) Haldeman's office
-Paul W. McCracken
-Economic condition of Armor division of Greyhound Corporation
-Shultz's conversation with unknown man
-Plant-equipment expenditures in American business
-Inventory expansion
-Sales
-Retail sales (May 1971 figures)
-McCracken's memo to President
-Revising of figures
-Sears, Montgomery Ward, J.C. Penney's
-Unemployment and expansion of U.S. economy
-Decline of actual unemployment
-Seasonal factors in unemployment
-Armed forces discharges and employment of veterans
-Wage and price control system
-Costs
-NoveltyAlso recorded on June 14, 1971
- 519-010 3:01 PM · 27 sec — President Richard M. Nixon, Stephen B. Bull, and unknown person(s) met in the Oval Office of the White House at an unknown time between 3:01 pm and 3:02 pm.
- 519-011 3:02 PM · 1 hr 25 min — President Richard M. Nixon, Stephen B. Bull, John B. Connally, George P. Shultz, Paul W. McCracken, Arthur F. Burns, Manolo Sanchez, and Alexander P. Butterfield met in the Oval Office of the White House from 3:02 pm to 3:29 pm.
- 519-012 3:29 PM · 3 sec — President Richard M. Nixon and unknown person(s) met in the Oval Office of the White House at an unknown time between 3:29 pm and 4:30 pm.
- 519-013 4:30 PM · 2 min — President Richard M. Nixon, Stephen B. Bull, Alexander P. Butterfield, and James D. Hodgson met in the Oval Office of the White House from 4:30 pm to 4:34 pm.
- 005-065 4:33 PM · 1 min — President Richard M. Nixon and Rose Mary Woods talked on the telephone from 4:33 pm to 4:34 pm.
- 519-016 4:34 PM · 3 sec — President Richard M. Nixon and the White House operator met in the Oval Office of the White House at an unknown time between 4:34 pm and 6:46 pm.
- 519-014 5:30 PM · 38 min — President Richard M. Nixon, Rose Mary Woods, Leslie C. Arends, Gerald R. Ford, Clark MacGregor, William E. Timmons, and Alexander M. Haig, Jr. met in the Oval Office of the White House from 5:30 pm to 6:10 pm.
- 519-015 6:10 PM · 27 min — President Richard M. Nixon, Rose Mary Woods, Henry A. Kissinger, [David] Kenneth Rush, and Manolo Sanchez met in the Oval Office of the White House from 6:10 pm to 6:45 pm.
Cite this conversation
Conversation 005-066, June 14, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/005-066 (accessed October 12, 2026).