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President Richard Nixon. Nixonomics, a portmanteau of the words "Nixon" and "economics", refers either to the performance of the U.S. economy under U.S. President Richard Nixon [1] (i.e. the expansions in 1969 and from 1970 to 1973 during the broader Post–World War II economic expansion and the recessions from 1969 to 1970 and from 1973 to 1975) or the Nixon administration's economic policies.
The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States president Richard Nixon on 15 August 1971 in response to increasing inflation.
The President's Commission on Financial Structure and Regulation, also known as the Hunt Commission (and not to be confused with the Hunt Commission of 1980) was a United States Presidential Commission created by President Richard Nixon between April and June 1970 that was "[r]esponsible for recommending measures to improve operation of the nation's private financial system."
The Economic Stabilization Act of 1970 (Title II of Pub. L. 91–379, 84 Stat. 799, enacted August 15, 1970, [2] formerly codified at 12 U.S.C. § 1904) was a United States law that authorized the President to stabilize prices, rents, wages, salaries, interest rates, dividends and similar transfers [3] as part of a general program of price controls within the American domestic goods and labor ...
Consumer price increases have also accelerated in recent months. Trailing three-month inflation rose to 3.9% year-over-year in December, the fastest three-month inflation reading in around eight ...
Nixon's primary interests as president were in the world of diplomacy and foreign policy; by his own admission, domestic affairs bored him. His first Secretary of the Treasury, David M. Kennedy , was a soft-spoken Mormon businessman whom the president paid little attention to.
Nixon Cox found the little-known keepsake when his grandfather died in 1994 -- and he even revealed one of the rules that stuck with him: "Don't forget you should always have a way out of an issue."
In the first year of the Thatcher-led Tory government inflation rose to 15.3%, but then fell to 5% by the time of their election win in 1983. [11] However, the monetarist policies designed to curb inflation caused a recession in 1980 and resulted in a steep rise in unemployment from 5.4% (1,390,46 people) to 11.5% (3,104,66 people). [12]