(FTC) Chair Lina Khan to investigate greedflation

[butters]

why the yuge corps are very very afraid of Lina Khan and why i love her politically un-biased stance:

Federal Trade Commission (FTC) Chair Lina Khan said Thursday that her agency will be investigating the high cost of groceries in the U.S. as chain supermarkets bring in “enormous profits.”

“But we also know that in the years since, costs have fallen, and supply chains have improved,” she said. “Many items though, are still too costly, and many large grocery chains are still raking in enormous profits. The FTC is determined to understand why. To make sure we can do so, I’ll be asking [the] commission to join me in launching an inquiry into grocery prices, to shed light on why it is that prices and profits remain so high, even as costs appear to have come down.”

this from a report released earlier this year by the FTC:

“Some firms seem to have used rising costs as an opportunity to further hike prices to increase their profits, and profits remain elevated even as supply chain pressures have eased. Larger retailers and wholesalers with considerable leverage over their suppliers were able to take more aggressive action to protect themselves,” FTC researchers stated.

https://thehill.com/business/4808280-ftc-federal-probe-high-grocery-prices-inflation/

 

[adrina]

It's about time.