The Nixon administration implemented wage and price controls, imposed tariffs on imports, and increased government spending in an attempt to alleviate the issues caused by stagflation, but these measures were not considered effective in the long term as they led to distortions in the economy and did not address the underlying causes of stagflation.
shorter
The Nixon administration implemented wage and price controls, tariffs on imports, and increased government spending, but these measures were not effective in addressing the issues caused by stagflation.
