Nixon shock
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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
Richard Nixon in 1971
U.S. Treasury Secretary John Connally, photographed on the day Nixon's policies were announced, was the primary political force behind them.
John Connally
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John Bowden Connally Jr. was an American politician who served as the 39th governor of Texas from 1963 to 1969 and as the 61st United States secretary of the treasury from 1971 to 1972. He began his c
Nixon shock
…as well as an annual inflation rate of 5.84%. To combat these problems, Nixon consulted Federal Reserve chairman Arthur F. Burns, Treasury Secretary John Connally, and Paul Volcker. On the afternoon of Friday, August 13, 1971, Nixon, Burns, Connally, Volcker, and twelve other high-ranking White House and Treasury…
Connally in 1961
Governor Connally signing the bill that separated Arlington State College from the Texas A&M University System in 1965
Connally, seated in front of Kennedy, minutes before the assassination
Connally's official Treasury Department portrait