Sep 6, 2024

When a president swayed the decisions of the Federal Reserve

David McNew/Getty Images

We'll take a look back at the time President Richard Nixon strong-armed a Federal Reserve Chair.

Segments From this episode

Hiring was weaker than expected in August

by David Brancaccio

Payrolls grew by 142,000 people in August. July job numbers also got revised downward. Meanwhile, the unemployment rate went down slightly in August. Let’s discuss with Julia Coronado of MacroPolicy Perspectives.

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Election 2024

That time the Fed bowed to political pressure before an election

by David Brancaccio and Alex Schroeder

Sep 6, 2024

It was the lead-up to the 1972 presidential election. An era of "stagflation" was ahead. And President Richard Nixon had a plan.

After first winning the presidential election in 1968, Richard Nixon sought a boost to win reelection in 1972. So he devised a scheme to influence the Fed — and monetary policy — for a friendly economic environment in the lead-up.

AFP via Getty Images

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The team

David Brancaccio Host

Leanna Byrne Host, BBC

Kelly Silvera Executive Producer

Meredith Garretson Morbey Senior Producer

Alex Schroeder Producer

Erika Soderstrom Producer

Ariana Rosas Producer

Nic Perez Director/Producer

Dylan Miettinen Digital Producer

John Bruington Media Producer

Jesson Duller Media Producer

Brian Allison Technical Director

James Graham Producer, BBC

Jo Critcher Producer, BBC

Naomi Rainey Producer, BBC

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