-
February 6 Time magazine reaches an agreement regarding job discrimination with 140 female employees.
-
-
Inflation reaches 6.1 percent, the highest rate since the Korean War (1950–53).
-
President Richard M. Nixon signs a $25-billion tax cut.
-
PepsiCo announces a deal to sell its products in the Soviet Union. -
The Nixon administration ends mandatory wage and price controls, except in the food, construction, and health-care industries.
-
President Gerald Ford announces his program to control inflation, called Whip Inflation Now (WIN) -
The federal government reports January unemployment at 8.2 percent, the highest level since 1941. This event had a huge impact on inflation at the time.
-
On September 15 American Bank and Trust Company fails, the fourth largest banking default in history. Having a huge effect on the economy.
-
On October 3 Three hundred American Airlines female flight attendants, fired for becoming pregnant between 1965 and 1970, receive a $2.7-million civil rights settlement. This had a huge impact on the civil rights settlement and the economy.
-
A 110-day coal miners' strike, the longest in U.S. history, ends with the signing of a new three-year contract. This strike affected the economy and gave higher inflation rates. Fun fact: Due to inflation, goods costing $100.00 in 1967 now cost $200.09.