President Nixon convened an extensive afternoon meeting in the Oval Office with his key economic advisors, including George Shultz, John Connally, Arthur Burns, and Paul Volcker, to deliberate on pressing fiscal and monetary policy issues. The discussion focused on addressing the nation's ongoing economic instability, involving high-level strategy sessions with administration officials and cabinet members. These deliberations were critical in shaping the Nixon administration's approach to inflation and international monetary concerns, ultimately informing the direction of domestic economic policy.
Audio for this conversation has not yet been released by the National Archives.
NARA DescriptionOn May 4, 1971, President Richard M. Nixon, Manolo Sanchez, John D. Ehrlichman, George P. Shultz, unknown person(s), Ronald L. Ziegler, H. R. ("Bob") Haldeman, White House operator, Stephen B. Bull, Walter E. Washington, Arthur F. Burns, Paul W. McCracken, Paul A. Volcker, Richard G. Kleindienst, and John B. Connally met in the Oval Office of the White House from 3:07 pm to 6:19 pm. The Oval Office taping system captured this recording, which is known as Conversation 490-024 of the White House Tapes.
Nixon Library Finding AidPresident's schedule
-Upcoming meeting
Bull left at 12:03 pm.No transcript is available for this conversation.