Two of Nixon’s biggest problems during his presidency were the rising inflation and unemployment. Which was a double whammy that economists had never seen before .A new term,staglation cropped up to describe to phenomenon.

Nixon tried to halt stagflation through a plan he developed in 1971 called the New Economic Policy. This policy called for temporary wage and price freezes,tax cuts , a 10 percent import tax, and measures to devalue American currency. The economy recovered briefly,just long enough for his reelection in 1972 , but was on the downturn again 1973…

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