President Nixon and George P. Shultz met to refine the messaging and strategy for an upcoming presidential address concerning economic policy, specifically the implementation of price controls and ceilings to combat inflation. They discussed the political necessity of restraining domestic spending and federal budget growth, while also addressing the public's anxiety regarding food and energy crises. The participants finalized the tone and content of the speech, aiming to frame the administration’s actions as a decisive effort to stabilize the economy without appearing to commit to an open-ended regulatory freeze.
On March 29, 1973, President Richard M. Nixon and George P. Shultz met in the President's office in the Old Executive Office Building from 9:20 am to 9:33 am. The Old Executive Office Building taping system captured this recording, which is known as Conversation 424-019 of the White House Tapes.
Nixon Library Finding AidConversation No. 424-19
Date: March 29, 1973
Time: 9:20 am -9:33 am
Location: Executive Office Building
The President met with George P. Shultz.
Price controls
-Freeze
-Implementation
-Base date
-Statement
-Prices
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NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. Aug.-2010)
Conversation No. 424-19 (cont’d)
-Rollback
-Phase I
-1972 attempts
-Demands by George Meany
President's address
-Tariffs
-Trade
-John D. Ehrlichman, H. R. (“Bob”) Haldeman, Roy L. Ash
-President's vetoes
-Counterattack
-Price freeze
-Tariffs
-Price ceiling
-Operation
-Tone
-Drafting
-Ehrlichman
-Effects of freeze
-Budget
-Domestic spending
-Increases
-Congress
-Taxes
-Restraint
-Price ceiling
-Compared with price freeze
-Wording
-Appeal to public
-Budget
-Future conflicts
-Effects of Vietnam War
-Cost of living
-Four years of progress
-President's actions
-Inflation
-Cuts in rates
-Imports, domestic production
-Imposition of price ceiling
-President's recommendation to Congress
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NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. Aug.-2010)
Conversation No. 424-19 (cont’d)
-Removal of tariffs
-Press conference
-Food crisis
-Energy crisis
-Imports
-Comments on President's economic program
-Edward Calvin [?]
-Republican
-Meat prices [?]
-Budget
-Price freeze on food
-Credit to President
-Housewives’ role
-Removal
-Cattlemen
-Reactions
-Duration of freeze
-Shultz's statement
-Impact of President's address
-Shultz's briefing
-Advice of Ronald L. Ziegler
-Abe Bartlett [?]
-Public response
-Meat prices
-Pork
-Chickens, turkeys
-Eggs
-Soybean prices
-Chicken prices
-Production levels
-Freeze
-Call to John B. Connally
-President's address
-Contents
-Use of term “ceiling”
Shultz left at 9:33 am.
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NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. Aug.-2010)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.