Conversation 063-002

On June 28, 1971, President Richard M. Nixon and members of the Cabinet Committee on Economic Policy, including Hendrick S. Houthakker, Herbert Stein, James D. Hodgson, John B. Connally, Peter M. Flanigan, Peter G. Peterson, George P. Shultz, John D. Ehrlichman, Ronald L. Ziegler, and H. R. ("Bob") Haldeman, met in the Cabinet Room of the White House at an unknown time between 9:12 am and 10:54 am. The Cabinet Room taping system captured this recording, which is known as Conversation 063-002 of the White House Tapes.

Conversation No. 63-2

Date: June 28, 1971
Time: Unknown between 9:12 am and 10:54 am
Location: Cabinet Room

Paul W. McCracken met with Hendrik S. Houthakker, Herbert Stein, James D. Hodgson, John B.
Connally, John D. Ehrlichman, Peter M. Flanigan, Peter G. Peterson, George P. Shultz, Ronald
L. Ziegler, and H. R. (“Bob”) Haldeman

     [General conversation/Unintelligible]

The President entered at 10:05 am

     Cabinet meeting, June 29, 1971

     San Clemente

     Administration economic policy
         -Future
         -Press

     Foreign policy
          -Henry A. Kissinger

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     Vietnam

[To listen to the segment (1m44s) declassified on 02/28/2002, please refer to RC# E-534.]

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     Possible memoranda to the President
          -Economic policy
               -Possible leaks
               -The President’s reading
               -Hodgson, George W. Romney
               -Importance
               -Memorandum from Federal Reserve Board
          -The President’s memoranda of conversations
          -Possible leaks
               -New York Times, Washington Post, Columbia Broadcasting System [CBS],
                      National Broadcasting Company [NBC], Time, Newsweek
               -Effects
          -Economic policy
               -Various solutions
               -Leaks
               -The President’s responsibility
          -Release
               -Defense Department and State Department’s memoranda

     The President’s economic policy
          -Wage and Price Board
          -”Jawboning”
          -Budget and tax policies
          -Need for stability
          -Spokesman
               -Connally
                      -Quadriad and Cabinet meetings
          -Role of economic advisors
               -Speeches
               -Connally’s and the President’s speeches
               -Chairman and members of Council of Economic Advisors [CEA]
               -Peterson, Shultz, Hodgson, and Romney
          -The President’s actions as Vice President

           -Leaks
                -Outcome
           -Responsibility
           -The President’s decisions
           -Role of economic advisors
                -Press contacts
           -Responsibility
                -Compared with foreign policy
                      -Congress
           -Role of economic advisors
                -Connally
                -Speeches
                      -Purpose
                -Flanigan, Ehrlichman

The President left at 10:21 am

     [General conversation/Unintelligible]

Recording was cut off at an unknown time before 10:54 am