In response to this vexing national problem, President Gerald Ford unveiled his WIN program on Oct. 8, 1974.
President Gerald Ford’s WIN (Whip Inflation Now) program, announced Oct. 8, 1974, was launched in response to a high inflation rate. Consumer prices rose 12.2 percent in 1974. The WIN program, introduced by Ford to a national television audience, included tax and spending assistance to hard-pressed industries, a five percent tax surcharge, reduced federal spending and tight monetary policies. During 1974 unemployment jumped from 5 percent to more than 7 percent, interest rates climbed to 12 percent, the stock market fell 28 percent, automobile sales collapsed. In 1974 real economic growth was negative 5 percent.
