Nixon White House Tapes › Tape 426 › Conversation 426-010

Nixon & Shultz on Price controls and Inflation

Thursday, March 29, 1973 · 5:11 PM–5:13 PM ET · Old Executive Office Building · 2 min

ParticipantsNixon, Richard M. (President); Shultz, George P.Conversation426-010 on Tape 426StartThursday, March 29, 1973 at 5:11 PMEndThursday, March 29, 1973 at 5:13 PMRecording deviceOld Executive Office BuildingSourceNixon Library record for 426-010 ↗

President Nixon and George Shultz discuss the administration's policy on price ceilings, aiming to maintain them indefinitely until consumer food prices decrease. Nixon emphasizes the importance of public rhetoric, instructing Shultz to signal that the ceilings will persist as long as necessary to stabilize the market. The two also coordinate their schedules for an upcoming meeting and a follow-up telephone call.

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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 5:11 pm to 5:13 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 426-010 of the White House Tapes.

Conversation No. 426-10

Date: March 29, 1973
Time: 5:11 pm - 5:13 pm
Location: Executive Office Building

The President talked with George P. Shultz.

[See Conversation No. 44-75]

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 Do not cite it as authoritative — verify against the audio and the finding aid.

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Yeah.
George, I just wanted to know in terms of, as I understand, with our ceiling deal, we plan to keep it in effect indefinitely.
The purpose is to keep it in effect until the prices are down.
Can I say that?
Yeah, yeah, I got that.
Well, like I said, these prices must, the way you've got it, these prices must not go higher.
With the help of the housewife and the farmer, they can and should go down.
And I want to add this sentence.
The ceiling will remain in effect as long as it's necessary to do the job.
You've got to keep prices down.
Too strong.
Okay.
Okay.
Bye.
Yeah.
Yeah.
Oh, yeah.
Get me the two names.
You'll come over, and then maybe while you're there, I'll make the call.
Well, that's right.
We're meeting in the morning.
And if we've got time, your meeting comes first.
But if we get through before, I'll make the call.
Thanks, George.
  • 044-073 4:53 PM · 18 sec — President Richard M. Nixon and the White House operator talked on the telephone at 4:53 pm.
  • 044-074 4:53 PM · 5 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 4:53 pm and 5:11 pm.
  • 426-008 4:55 PM · 11 min — President Richard M. Nixon, Rose Mary Woods, White House operator, and Henry A. Kissinger met in the President's office in the Old Executive Office Building from 4:55 pm to 5:10 pm.
  • 426-009 5:10 PM · 45 sec — President Richard M. Nixon and Rose Mary Woods met in the President's office in the Old Executive Office Building from 5:10 pm to 5:11 pm.
  • 044-075 5:11 PM · 2 min — President Richard M. Nixon and George P. Shultz talked on the telephone at an unknown time between 5:11 pm and 5:13 pm.
  • 044-076 5:11 PM · 6 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 5:11 pm and 5:13 pm.
  • 426-011 5:13 PM · 50 sec — President Richard M. Nixon and Rose Mary Woods met in the President's office in the Old Executive Office Building at an unknown time between 5:13 pm and 5:32 pm.
  • 426-012 5:13 PM · 8 sec — President Richard M. Nixon and unknown person(s) met in the President's office in the Old Executive Office Building at an unknown time between 5:13 pm and 5:32 pm.

Conversation 426-010, March 29, 1973. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/426-010 (accessed October 29, 2026).