1973 oil crisis - President Richard Nixon orders 90-day nationwide freeze on all wages, prices, salaries and rents

Time: Sunday Aug 15, 1971 warning

Place: U.S.

Details: U.S. Government institutes Phase I price controls. Invoking the powers granted to the president by the Economic Stabilization Act of 1970, President Richard Nixon orders a 90-day nationwide freeze on all wages, prices, salaries, and rents.

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