President Gerald Ford became vice president in 1973 and then president in 1974 after Nixon resigned. He faced major issues like inflation, recession, and energy shortages. Ford aimed to curb inflation, stimulate the economy, and reduce taxes and government spending. His decision to pardon Nixon was unpopular. In foreign policy, Ford negotiated with the Soviets and Chinese while withdrawing from Vietnam. However, the lagging economy and Nixon pardon contributed to his defeat in the 1976 election by Jimmy Carter.