Support the fact-based journalism you rely on with a donation to Marketplace today. Give Now!

That time the Fed bowed to political pressure before an election

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

How promises to fix income inequality have played out after elections

Oct 28, 2020
Income inequality is on the minds of many voters right now, much like in the run-up to the 1968 presidential election.
We know from the Nixon White House tapes that he didn't really believe in wage and price freezes to get roaring inflation under control.
Keystone/Hulton Archive/Getty Images

Richard Nixon 'wanted to be a good prince'

Author looks into the psyche of the anxious introvert who was 37th president.
“Nixon's become kind of a cartoon to us," says author Evan Thomas. "We think he's wicked and evil. I just didn't believe that.”
National Archive/Newsmakers

On 40th anniversary, a look at the spillover effects of the 1973 Arab Oil Embargo

Oct 14, 2013
How did the 1973 oil crisis convince Americans to reduce energy consumption?

The Street of Eternal Happiness: Mr. Qiu meets the President

Oct 19, 2012
In this latest installment of a monthly series about the people who make their living along Changle Road in Shanghai, Qiu Huanxi remembers the week President Richard Nixon came to the Street of Eternal Happiness to change history.