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Egg prices reached another record high last month. It now costs American shoppers an average of $6.23 for a dozen eggs — nearly a five-fold increase since 2020.Yet while families have been squeezed by grocery sticker shock, agriculture corporations have been raking in record profits. Cal-Maine, the country’s largest egg producer, took in $509 million this quarter alone, tripling its profits from a year ago.Gouging consumers is bad enough. But it gets worse: Cal-Maine and other ag companies were breaking the bank at the same time they were also quietly getting millions in taxpayer-funded relief payments from the federal government....

During a town hall on CNN on Wednesday, 2024 Democratic presidential candidate Vice President Kamala Harris responded to a question on how her plan to combat “price gouging” on groceries “during emergencies or times of crisis” would help with the fact that grocery prices have just been high every day for years by stating that there should be accountability “when companies are taking advantage of the desperation and the need of the American people,” and stating that “most” companies don’t gouge. Host Anderson Cooper asked, “I looked at your plan. You talk about going after price gougers, and I’m quoting...

Senate Democrats attacked McDonald’s on Tuesday for price gouging while it continues to “grow” profits and serve the needs of customers. The letter, written by Sens. Ron Wyden (D-OR), Bob Casey (D-PA), and Elizabeth Warren (D-MA), underscores the success of former President Donald Trump’s campaign stop on Sunday when he worked a McDonald’s drive-thru window in Pennsylvania. Images and video of the former president helping customers to McDonald’s finest foods nearly broke the internet. Many of Trump’s critics heralded the gesture as great retail politics and a stroke of political genius.

Fans at Florida’s Disney World theme park are furious and offended over the extremely high prices of the food at a new bakery opening this fall with a single slice of cake priced as high as $26, and a Coca Cola at $8 a cup.

LOS ANGELES, California — Gov. Gavin Newsom (D) traveled to Baldwin Hills to sign legislation restricting oil and gas facilities — and removing the pumpjacks behind him, ending a century of the oil and industry’s role in the area. AB 2716 will close the Baldwin Hills oil facilities, which existed prior to the surrounding area becoming developed for residential use, but which now sit inside what has become L.A.’s most prominent middle-class black neighborhood. AB 3233 will give local authorities more power to prohibit oil and gas drilling. AB 1866 will expand on existing law and increase and accelerate the...

Kamala Harris wants to outlaw the very mechanism that enables consumers to buy what they need most in a time of scarcity. What gives?

During an interview with CBS News on Monday, Rep. Jennifer McClellan (D-VA) responded to criticisms of 2024 Democratic presidential candidate Vice President Kamala Harris’ “price gouging” proposal by stating that when Democrats are in the White House, “costs go down.” Host Lindsey Reiser asked, “Harris is receiving some criticism for her economic proposals unveiled Friday, particularly when it comes to the proposed federal price gouging ban. The Washington Post editorial board published an op-ed saying, ‘The times demand serious economic ideas. Harris supplies gimmicks.’ Economist Jason Furman, who was in the Obama administration, told [The New York Times], ‘I think...

On Friday’s broadcast of CNN’s “The Source,” Rep. Dan Goldman (D-NY) wouldn’t say if he backs 2024 Democratic presidential candidate Vice President Kamala Harris’ “federal ban on price gouging on groceries” proposal because “The devil’s in the details.” And “where do you end this? What are the details like? How do you define price gouging? That will be something that we’ll have to work through.” Host Kaitlan Collins asked, “On that economic plan, do you support a federal ban on price gouging on groceries?”

It’s hard to exaggerate how bad Kamala Harris’s price-gouging proposal is. “Price gouging” is the focus of Vice President Kamala Harris’s economic agenda, her presidential campaign says. She’ll crack down on “excessive prices” and “excessive corporate profits,” particularly for groceries. So what level counts as “excessive,” you might ask? TBD, but Harris will ban it. That’s the thing about price gouging: As has been said of hardcore pornography, you know it when you see it. It’s not hard to figure out where this proposal came from. Voters want to blame someone for high grocery bills, and the presidential candidates have...

Early in the pandemic, a local merchant I know in New York, an immigrant who owns a small stationary store, worked tirelessly to obtain the goods his customers all then believed were needed—masks, hand sanitizer, and so on. He paid a markup for these goods, not to mention the time it cost him to secure them, and naturally passed the higher prices on to his customers. But given the emergency, he faced a price limit on what he could sell the masks for, with steep fines if he didn't comply. He fought these mandates in court and nearly lost his...

“Corporate price gouging” is the Biden administration’s latest narrative to displace the responsibility of soaring costs. President Joe Biden, who falsely claimed twice in two weeks that inflation was at nine percent when he assumed office, is transitioning to another tack, albeit a strategy he has used before. “President Biden’s top economic priorities are fighting inflation and lowering costs for the American people,” White House deputy press secretary Andrew Bates claimed. “Standing up to corporate price gouging is at the core of that fight.”

During an interview with CBS’s “The Takeout” podcast that took place before the release of the February inflation numbers, acting Labor Secretary Julie Su said that there is price gouging and “One reason for inflation is that companies are taking advantage of market forces or just charging more in a way that increases their profit, but has nothing to do with worker’s wages.”

On Tuesday’s broadcast of CNBC’s “Money Movers,” White House National Economic Council Director Lael Brainard reacted to the January CPI inflation report by stating that there are probably “some anomalies in today’s report” and that overall data on the economy is good. She also argued that grocery corporations are gouging. Brainard said, “You know what, I always look at the data picture. I don’t overly weight one data point. And the overall picture looks good. Growth above 3, unemployment below 4, and inflation down by two-thirds, now, of course, we want to keep working to lower costs for the American...

California Gov. Gavin Newsom (D) claimed victory Tuesday over oil companies with the signing of a law that caps their profits and punishes price gouging — though there is little evidence they are engaged in the practice. California gas prices are usually the highest in the nation, a fact that became painfully clear during nationwide price surges last summer. But as been widely documented, including by the New York Times, that has to do with state taxes and with climate change regulations. One oil company CEO responded last year to claims of price gouging by noting that California has a...

California lawmakers voted on Thursday to advance a bill that would penalize oil companies for “price gouging” — a first-of-its-kind legislation pushed forward in recent months by Gov. Gavin Newsom (D). The SBX1-2 bill, sponsored by state Sen. Nancy Skinner (D), received the approval of the California State Senate in an Extraordinary Session convened to fast-track the legislation on Thursday morning. The bill could head to the State Assembly as early as Monday and receive the governor’s signature shortly after that, a source familiar with the matter told The Hill. Newsom commended the state Senate’s “quick action” following the vote,...

The House voted Thursday to pass Democrats’ bill aimed at combating “price gouging” on gasoline. The bill passed 217-207, with no Republicans voting for it and four Democrats voting against it: Reps. Stephanie Murphy (Fla.), Lizzie Fletcher (Texas), Kathleen Rice (N.Y.) and Jared Golden (Maine).

The Port Authority of New York and New Jersey recently announced a number of new measures to rein in pricing at airports after a traveler saw beer being sold at LaGuardia Airport for $28 last year. Authorities said the Aviation Department has “significantly enhanced” compliance with the fair market pricing policy for goods sold in airport concessionaires. This means that no item should be sold above local “street prices” with a 10% maximum surcharge. The policy also requires vendors to offer lower-priced options. The most popular craft brewery in every state, according to Yelp Revisions to the Concessionaire Street Pricing...

On Monday’s broadcast of MSNBC’s “MTP Daily,” Senate Majority Whip Sen. Dick Durbin (D-IL) stated that “we’re dealing with a transitional economy, coming from a shutdown economy under COVID-19, reemerging, creation of jobs at record levels, but with it, comes the fires of inflation.” And there’s also “a lot” of price gouging. Durbin stated that poor poll numbers for Democrats reflect “history’s reality that off-year elections are not kind to the president’s party. That’s the starting point. Secondly, we’re dealing with a transitional economy, coming from a shutdown economy under COVID-19, reemerging, creation of jobs at record levels, but with...

Wednesday on CNBC’s “Squawk Box,” Rep. Jan Schakowsky (D-IL) blamed oil companies for record-high gas prices across the United States. Schakowsky argued that “Americans are suffering right now at the pump” due to oil companies raising their prices during the war in Ukraine. She also asserted the companies could be producing more oil than they currently are.

BREITBART On Friday’s broadcast of ABC’s “GMA3,” economist, Harvard Professor, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers called on the Federal Reserve to raise interest rates and signal that further interest rate increases are coming and argued that the Federal Reserve can’t blame inflation on the coronavirus pandemic or the war in Ukraine, and the Biden administration can’t blame corporate greed for inflation because, at its core, the issue is about “managing the level of demand in the economy.”