He narrowly lost the presidential election to the Democratic challenger, former Georgia Governor Jimmy Carter. One of the first acts the new president took to deal with the economy was to create, by Executive Order on September 30, 1974, the Economic Policy Board. In October 1974, in response to rising inflation, Ford went before the American public and asked them to 'Whip Inflation Now'. As part of this program, he urged people to wear 'WIN' buttons.
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