Sen. Elizabeth Warren on Thursday led the introduction of new legislation that would enable federal regulators to forcefully crack down on corporate price gouging, a practice that progressive lawmakers and economists say has played a major role in driving U.S. inflation to a 40-year high.
According to a one-page summary released by Warren's office, the Price Gouging Prevention Act of 2022 would "prohibit the practice of price gouging during all abnormal market disruptions—including the current pandemic—by authorizing the Federal Trade Commission (FTC) and state attorneys general to enforce a federal ban against unconscionably excessive price increases, regardless of a seller's position in a supply chain."
