George P. Shultz and Milton Friedman met to deliberate on economic policy, foreign trade strategies, and the potential legal implications of forthcoming administration actions. The discussion centered on specific trade matters, including wheat deals and unilateral actions coordinated with Peter G. Peterson, alongside preparations for a significant economic policy announcement scheduled for October 15, 1971. The participants examined legal alternatives to current regulatory constraints while also briefly addressing scheduling matters for the President.
On September 24, 1971, George P. Shultz, Milton Friedman, and unknown person(s) met in the Cabinet Room of the White House at an unknown time between 9:53 am and 11:03 am. The Cabinet Room taping system captured this recording, which is known as Conversation 077-003 of the White House Tapes.
Nixon Library Finding AidConversation No. 77-3
Date: September 24, 1971
Time: Unknown after 9:53 am until 11:03 am
Location: Cabinet Room
George P. Shultz and Milton Friedman [?] met
[General conversation/Unintelligible]
Work
Legal action
Foreign trade
-Wheat deal [?]
-Terms
-Post-1969 action
-Meeting with Peter G. Peterson
-Unilateral action
The economy
-Proposed October 15, 1971 action
An unknown man entered at an unknown time after 10:29 am
The President’s schedule
Shultz, et al. left at 11:03 amThis 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 Do not cite this transcript as authoritative.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.