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Biden to form ‘strike force’ to go after price-gouging
Posted on 3/5/24 at 9:55 am
Posted on 3/5/24 at 9:55 am
President Biden will announce the formation of a “strike force” Tuesday to hold companies accountable for price-gouging practices.
The announcement comes days before the State of the Union address, when Biden is expected to make his economic pitch to Congress and voters ahead of the 2024 election.
The strike force, which will be co-chaired by the Department of Justice and the Federal Trade Commission (FTC), aims to coordinate the Biden administration’s efforts to rein in anti-competitive and unfair practices and lower prices in key sectors including food, prescription drugs and transportation.
“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,” National Economic Council Director Lael Brainard told reporters. “Instead, some corporations are tacking on extra fees, hiding costs and sometimes even breaking the law.”
Assistant Attorney General Jonathan Kanter described the strike force as an “important next step and new chapter in a fight against unfair and anti-competitive pricing.”
LINK
The announcement comes days before the State of the Union address, when Biden is expected to make his economic pitch to Congress and voters ahead of the 2024 election.
The strike force, which will be co-chaired by the Department of Justice and the Federal Trade Commission (FTC), aims to coordinate the Biden administration’s efforts to rein in anti-competitive and unfair practices and lower prices in key sectors including food, prescription drugs and transportation.
“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,” National Economic Council Director Lael Brainard told reporters. “Instead, some corporations are tacking on extra fees, hiding costs and sometimes even breaking the law.”
Assistant Attorney General Jonathan Kanter described the strike force as an “important next step and new chapter in a fight against unfair and anti-competitive pricing.”
LINK
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Posted on 3/5/24 at 9:57 am to Jbird
Remember that one time we saved .16¢ on July 4th!
Posted on 3/5/24 at 9:58 am to Jbird
Diocletian did the same centuries ago.
Posted on 3/5/24 at 9:58 am to Jbird
Biden doesn't have a clue about a "strike force". Even if he knew about it this morning he has already forgotten it
Posted on 3/5/24 at 9:58 am to Jbird
Start in the Ukraine please.
Posted on 3/5/24 at 9:58 am to Jbird
He needs to arrest himself.
Crazy SOB.
Crazy SOB.
Posted on 3/5/24 at 9:58 am to tom
quote:
Shakedown squad
Posted on 3/5/24 at 9:58 am to Jbird
Why wage war on Starbucks now? Distraction?
Posted on 3/5/24 at 9:59 am to Jbird
I assume this strike force will be instructed to overlook such insignificant details in running a business, such as higher costs of labor, increased cost of goods, higher transportation costs, increased insurance, rent, utilities, etc.
Posted on 3/5/24 at 10:00 am to Jbird
Commie squad. Of course the enforcers always get their commie kickbacks while the plebs suffer.
Posted on 3/5/24 at 10:00 am to Jbird
Why doesn't he send the "strike force" to the IRS and put an end to the government gouging our income to pay for the freeloaders in this country....not to mention the so-called "newcomers".
Posted on 3/5/24 at 10:03 am to Lutcher Lad
1st target - that discount home insurance company that only raised rates 300% instead of the nation average of 400%.
Posted on 3/5/24 at 10:04 am to Lutcher Lad
The White House on Monday seized on Cookie Monster’s post complaining about “shrinkflation.”
“C is for consumers getting ripped off,” the official White House account on X, formerly known as Twitter, posted in response to an earlier post by the “Sesame Street” character. “President Biden is calling on companies to put a stop to shrinkflation.”
On Monday, Cookie Monster’s account on X posted that “shrinkflation” was getting him down.
“Me hate shrinkflation! Me cookies are getting smaller,” he wrote, with a sad emoji.
“Shrinkflation” refers to companies making their products smaller while keeping the same price.
The White House criticized “shrinkflation” last month in a video before the Super Bowl.
“Some companies are trying to pull a fast one by shrinking their products little by little and hoping you won’t notice,” Biden said in the video. “Give me a break. The American public is tired of being played for suckers. I’m calling on companies to put a stop to this.”
Inflation reached a 40-year high of 9.1 percent June 2022, but it has since fallen to 3.1 percent as of January, per the Department of Labor’s consumer price index (CPI).
“C is for consumers getting ripped off,” the official White House account on X, formerly known as Twitter, posted in response to an earlier post by the “Sesame Street” character. “President Biden is calling on companies to put a stop to shrinkflation.”
On Monday, Cookie Monster’s account on X posted that “shrinkflation” was getting him down.
“Me hate shrinkflation! Me cookies are getting smaller,” he wrote, with a sad emoji.
“Shrinkflation” refers to companies making their products smaller while keeping the same price.
The White House criticized “shrinkflation” last month in a video before the Super Bowl.
“Some companies are trying to pull a fast one by shrinking their products little by little and hoping you won’t notice,” Biden said in the video. “Give me a break. The American public is tired of being played for suckers. I’m calling on companies to put a stop to this.”
Inflation reached a 40-year high of 9.1 percent June 2022, but it has since fallen to 3.1 percent as of January, per the Department of Labor’s consumer price index (CPI).
Posted on 3/5/24 at 10:04 am to tom
LOL..so instead of admitting that putting spending trillions of dollars and printing money recklessly did not cause inflation, Biden's election plan is to paint the corporations as the villain. The same corporation's that started paying everyone $18/hr to flip burgers. So now with everything in their supply chain costing more, and having to pay employees more, they are expected to not raise their prices. Which is going to lead to shortages and closures. Biden is the gift that keeps on giving, at least in the sense of destroying the Democrat party.
Posted on 3/5/24 at 10:05 am to Jbird
STRIKE
FORCE
Led by a couple former Brookings Institution fellows that look like they escaped from an institution.
Lael Brainard
Jonathan Kanter
FORCE
Led by a couple former Brookings Institution fellows that look like they escaped from an institution.
Lael Brainard
Jonathan Kanter
Posted on 3/5/24 at 10:06 am to Jbird
My inflation sucks but it's not my doing, it's the big bad business monsters.
Posted on 3/5/24 at 10:06 am to LuckyTiger
4chubbies and powerputz.
Posted on 3/5/24 at 10:08 am to Jbird
He’s gonna crush the Ticketmaster fees
Thanks Joe !
So glad you’re doing the important stuff !!!
Thanks Joe !
So glad you’re doing the important stuff !!!
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