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What was the name of the financial event Connally oversaw as Treasury Secretary?

  • Silver Surge

  • Nixon shock

  • Currency Crash

  • Dollar Dip

Answer

The "Nixon shock" refers to a series of economic measures undertaken by the Nixon administration in August 1971, including the suspension of the direct convertibility of the US dollar to gold, a 10% import surcharge, and a temporary freeze on domestic wages and prices. These measures sought to address trade imbalances, inflation, and the overall strength of the dollar in the global economy.
The Connally Conundrum: A Journey through the Life of John Connally

The Connally Conundrum: A Journey through the Life of John Connally

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