Biden Aims to Spur Economic Competition — and Lower Prices — With New Task Force
By:
Julia Glum
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Kaitlin Mulhere
Kaitlin Mulhere
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As the Federal Reserve continues to work on curbing inflation, the White House is attacking the high prices stretching Americans' budgets in another way: with a new "strike force."
President Joe Biden announced the interagency effort, formally called the Strike Force on Unfair and Illegal Pricing, on Tuesday. According to a fact sheet, its mission is to "root out and stop illegal corporate behavior that hikes prices on American families through anti-competitive, unfair, deceptive or fraudulent business practices."
The ultimate goal? Billions in savings on junk fees, plus lower prices on everyday goods like gas and groceries.
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