White House economist says antitrust guidance is important to ensure competition and lower consumer costs.
The Department of Justice (DOJ) and the Federal Trade Commission (FTC) jointly released new guidelines for large company mergers this month, marking the latest effort by President Biden’s administration to expand antitrust policy. The guidelines are not legally binding, but clarify and make public how federal agencies will enforce current antitrust law, focusing primarily on maintaining accountability for the pricing of companies and the hiring of new employees.
“For too long, unchecked consolidation has meant big corporations getting bigger, giving them the power to raise prices for Americans and provide consumers with fewer options,” stated National Economic Council Director Lael Brainard. She added that the new guidance “is an important step to lower costs for consumers, ensure a level playing field for small businesses, and ensure antitrust enforcement is fit for purpose in today’s economy,”
As the Lord Leads, Pray with Us…
- For Director Brainard as she oversees the White House National Economic Council.
- For Justice Department officials as they seek to enforce U.S. antitrust laws.
- For members of the Federal Trade Commission to be wise in their investigation of mergers.
Sources: The Hill, JDSupra
