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Conversation 270-009

TapeTape 270StartTuesday, August 3, 1971 at 4:50 PMEndTuesday, August 3, 1971 at 4:56 PMTape start time00:34:49Tape end time00:50:22ParticipantsNixon, Richard M. (President);  Shultz, George P.Recording deviceOld Executive Office Building
AI Summary

President Nixon and George P. Shultz consulted on messaging strategy for an upcoming press conference regarding the state of the national economy. The two discussed positive economic indicators, specifically noting strength in retail sales and housing markets, while weighing how to address ongoing concerns about inflation and the Consumer Price Index. Nixon directed Shultz to synthesize these data points and determine the administration's next steps in publicizing the economic narrative.

Economic PolicyInflationConsumer Price IndexPublic RelationsRetail SalesHousing Market
AudioNARA Description

On August 3, 1971, President Richard M. Nixon and George P. Shultz met in the President's office in the Old Executive Office Building from 4:50 pm to 4:56 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 270-009 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 270-9

Date: August 3, 1971
Time: 4:50 pm - 4:56 pm
Location: Executive Office Building

The President talked with George P. Shultz.

     Forthcoming press conference
          -Possible question
               -National economy
                     -Figures
                     -Indicators
                           -Retail sales
                           -Housing
                           -Construction
                           -Stock Market
                           -Inflation
                                 -Consumer Price Index [CPI]
                                       -Figures
          -Preparation
               -Timing
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 Do not cite this transcript as authoritative.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.

George, what, if you were to answer a question on the safety of the Republican Corps, that's a positive point.
Everybody is being made to know what's going on.
For those people, to be honest with you, I don't have any.
They don't have any strong fears.
They are strong.
Okay, good.
Yes, they retail certainly strong.
Right.
Good.
Housing strong.
That's right.
Yeah.
Yeah.
Also, if we get a... say it goes up to six, then that's our problem.
Now, uh, you can also read the information.
I guess the... the SEP, the rate of inflation is slower than... from 5.5 in 1973, from 9 in the first month of 1970.
Well, I don't know.
I don't know.
I don't know.
Yeah.
Weird, huh?
That's up there.
Well, that's not that now.
Yeah, yeah.
Right, right, right.
Okay.
Good.
And if you get that, figure out what you want to do next.
Okay, okay.
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