Sick of high prices and feel like companies are ripping you off? Well, so is President Biden. He issued an executive order yesterday, March 5th, that is intended to promote competition and root out illegal pricing. Under the executive order on promoting competition in the American economy, Biden formed a strike force that will focus on sectors where companies may be violating the law and keeping prices high, including prescription drugs and health care, food and grocery, housing, and financial services.
The Department of Agriculture finalized a rule to protect the farmers and ranchers who produce meat and poultry by cracking down on processing companies’ deceptive contracts, banning retaliatory practices that prevent small producers from raising concerns or coming together in associations, this will support more competition, which can lower food prices.
