What is Nixon shock?
The '''Nixon shock''' was a series of economic measures done by [[United States]] [[President of the United States|President]] [[Richard Nixon]] in 1971, in response to increasing [[inflation]]. He froze wage and price. He also directed the cancellation of the direct international [[convertibility]] of the [[United States dollar]] to [[gold]].<ref>{{cite news |last1=Lewis |first1=Paul |title=Nixon's Economic Policies Return to Haunt the G. O. P. |url=https://www.nytimes.com/1976/08/15/archives/nixons-economic-policies-return-to-haunt-the-gop-nixons-economic.html |access-date=25 March 2019 |work=The New York Times |date=15 August 1976}}</ref> ==References== {{reflist}} [[Category:1971 in the United States]] [[Category:Economic history]] [[Category:Richard Nixon]] {{Multistub|US|history}}