White House Announces ‘Strike Force’ on Unfair and Illegal Prices
The Biden administration announced this week the creation of a new "strike force" that will facilitate interagency efforts to combat unfair and illegal pricing schemes, a move that doubles down on recent criticism of grocery stores and other retailers for deceptively raising prices on everyday products.
The strike force will be led by the Department of Justice and the Federal Trade Commission, two regulators tasked with enforcing laws against unfair, deceptive or fraudulent business practices.
"Over the last year, supply chains have returned to normal and inflation has come down, but even as prices have come down on important items like a gallon of milk and a dozen eggs, some corporations aren't passing those savings on to consumers," said Lael Brainard, director of President Joe Biden's National Economic Council, at a press conference.
"Instead, some corporations are tacking on extra fees, hiding costs and sometimes even breaking the law," she added. "President Biden is fed up with corporate practices that unfairly raise costs for consumers, and he's taking action."