Federal Trade Commission Chair Lina Khan testifies before a House Judiciary Committee hearing on Oversight of the Federal Trade Commission, on Capitol Hill in Washington, D.C., July 13, 2023.
Kevin Wurm | Reuters
President Joe Biden on Tuesday will launch a new task force to take on “unfair and illegal” corporate pricing, which Biden sees as a major reason why consumers are not yet feeling the impact of cooling inflation rates and a strong economy.
The task force will be jointly led by the Federal Trade Commission and the Department of Justice, two agencies at the forefront of the Biden administration’s aggressive regulatory agenda over the past three years.
“We’re excited to be co-chairing the president’s new Strike Force on Unfair and Illegal Pricing, which builds on the FTC’s far-reaching work to promote competition and tackle unlawful business practices that are inflating costs for Americans,” FTC Chair Lina Khan told reporters on a call Monday.
Assistant Attorney General for Antitrust Jonathan Kanter will co-chair the strike force along with Khan.
“Here at the Justice Department, we are confronting some of the world’s most powerful corporations so that we can improve the lives of American families, Kanter said on the call.
Jonathan Kanter, Assistant Attorney General for the Antitrust Division at the Department of Justice, arrives at federal court on September 12, 2023 in Washington, DC.
Kevin Dietsch | Getty Images
On Tuesday afternoon, Biden will convene the sixth formal meeting of the White House Competition Council, a group of top official throughout the administration who are tasked with rooting out anti-competitive practices across a wide range of industries.
“Over the last year supply chains have returned to normal and inflation has come down,” said National Economic Council Director Lael Brainard on the call. “Some corporations aren’t passing those savings on to consumers…President Biden is fed up with corporate practices that unfairly raise costs for…
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