Nixon White House Tapes — Conversation 484-007
Date: Wednesday, April 21, 1971 at 12:27 PM
Participants: Nixon, Richard M. (President); Shultz, George P.
Recording device: Oval Office
Source: https://www.easynixon.org/tapes/484-007

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Do not cite it as authoritative.

[0:00] Oh, okay.
[0:05] We have a, uh, uh, conservative price index in March.
[0:09] Oh, yeah.
[0:09] It's, uh, non-adjusted 0.3, seasonally adjusted 0.2.
[0:13] That's a surprise.
[0:19] I thought it was going to go down, but I thought we'd get 0.4.
[0:25] It definitely counts, of course.
[0:29] That's three months in a row, 0.2 or less.
[0:34] We have a 0.3 and 2.2.
[0:36] Which was a .2?
[0:40] About 2.2s.
[0:42] Yeah, anyway, finally it's good.
[0:46] This is the lowest quarterly seasoning adjustment for the average, the lowest since the first quarter of 1967.
[0:55] Here's 1970's quarterly ratings.
[0:57] We had 6.2, 6.1, 4.2, 5.5, so this is way down.
[1:01] This is half of what it was running.
[1:02] Less than half of what it was running this time last year.
[1:06] So it's really very unadjusted.
[1:10] It was 2.4 of the seasonal indefinite action rates.
[1:19] So I thought you'd agree on that.
[1:27] You get some good news.
[1:28] Good.
[1:28] Thanks.
[1:28] We'll do this again.
[1:28] I would like to accidentally misconvict him to let McCracken respond.
[1:31] In other words, there doesn't need to be so...
[1:34] Right.
[1:37] You don't need to say a word.
[1:39] What do you do?
[1:39] I don't know.
[1:40] I'm going to pay a point.
[1:40] I'm going to let him do this one.
[1:41] All right.
[1:41] I'm going to call a magnum.
[1:44] That's a three-four positive.
[1:44] Three-four positive lines.
[1:46] All right.