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

• President Joe Biden will launch a new strike force jointly led by the Federal Trade Commission and Department of Justice, to tackle "unfair and illegal" corporate pricing, which he blames for consumers' continued high costs of living.
• The FTC and DOJ have been among the central enforcers of Biden's regulatory agenda over the past three years.
• The White House will convene the sixth formal meeting of its Competition Council Tuesday afternoon.

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.

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