The news at the time ranged from people reporting that someone raised their rent on down to some laundramat charging an extra quarter do their laundry. What a disaster Nixon pulled on that one. And yes, conservatives did tell him NOT to do it, but he caved to the liberal's way of thinking.
The Economic Stabilization Act of 1970 (Title II of Pub.L. 91–379, 84 Stat. 799, enacted August 15, 1970,[2] formerly codified at 12 U.S.C. § 1904) was a United States law that authorized the President to stabilize prices, rents, wages, salaries, interest rates,