President Nixon surprises nation with 90-day freeze 40 years ago today

Nixon Ends Bretton Woods International Monetary System

(Sunday, August 15, 1971, 9 p.m. EDT) — U.S. President Richard Nixon charted a new economic course tonight by ordering a 90-day freeze on wages, prices and rents, requesting Federal tax cuts and making a broad range of domestic and international moves designed to strengthen the dollar.

Leave a Reply

Your email address will not be published. Required fields are marked *