The First Public Meeting of the Strike Force on Unfair and Illegal Pricing: What Happened and What’s Next

On August 1, the Federal Trade Commission (FTC) and the Department of Justice (DOJ) jointly hosted the inaugural public meeting of the multiagency Strike Force on Unfair and Illegal Pricing, which focuses on antitrust and consumer protection enforcement. The Strike Force was established following President Joe Biden’s March announcement, where he vowed to crack down on companies that violate the law while keeping prices high for American consumers. In addition to the FTC and DOJ, six other federal agencies participated: the Department of Agriculture (USDA), Department of Health and Human Services (HHS), Department of Transportation (DOT), Securities and Exchange Commission (SEC), Federal Communications Commission (FCC), and Consumer Financial Protection Bureau (CFPB). During the meeting, the agencies detailed recent initiatives aimed at addressing rising prices across various industries, reflecting the Biden administration’s commitment to a whole-of-government approach to enforcement.

The public session featured remarks from senior officials across all eight agencies, who outlined their efforts to reduce consumer costs as part of the Strike Force.

FTC Chair Lina Khan opened the meeting by highlighting the administration’s achievements, including saving Americans millions by reducing credit card fees, capping insulin costs, and making hearing aids more affordable. She also announced the FTC’s plan to investigate grocery prices to examine how major grocery chains may be inflating prices and driving profits at consumers’ expense. Khan emphasized, “Grocery prices soared during the pandemic, largely due to increased costs and supply chain issues … [but] despite improvements, many items remain overpriced, and large grocery chains continue to report substantial profits. The FTC is committed to uncovering the reasons behind this trend.”

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