How Gerald Ford Tried to Fight Inflation

Just two months after becoming president and a month after pardoning Richard Nixon following the Watergate scandal, President Gerald Ford turned his attention to another challenge facing the country: high inflation.

The Republican president’s solution, unveiled in an October 8, 1974 speech to Congress, was Whip Inflation Now, or WIN — an enthusiastic White House effort.

The program called on companies to maintain or reduce prices and citizens to do their part by spending less and saving energy. It also included a host of proposed policy changes aimed at tackling inflation, such as a temporary 5% tax surtax on corporations and high-income earners, and a target to cut oil imports by $1 million. barrels per day in response to strong “cartel prices.

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