Biden to launch joint FTC-DOJ task force to crack down on ‘unfair and illegal pricing’

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.