In August 1945 the Truman administration faced a host of dilemmas when it moved to demobilize the American economy and dismantle the system of wartime economic regulations. The new President and many of his top officials lacked executive experience, having assumed their positions less than six months earlier. Given Japan's sudden and surprising surrender, they also had not yet prepared detailed reconversion plans, since most had expected the Pacific War to continue for at least six months to a year longer. And within the administration there was no consensus on two key issues—whether price controls would help or hinder the transition to peacetime, and whether inflation or unemployment was the main threat to postwar prosperity.