As the U.S. inflation rate ramps up, obvious to many people at the grocery store and the gasoline pump, President Joe Biden has asked the Federal Trade Commission and the Justice Department to investigate whether the exercise of market power by major corporations (“Big Food” and “Big Oil”) is responsible for the fastest commodity price increases in two decades.
Before inflation began rearing its ugly head, Washington’s trustbusters and some states’ attorneys general were more apprehensive about Big Tech, worries that may crystallize soon in opposition to Microsoft Corp.’s proposed $75 billion acquisition of video game giant Activision, the company’s first major step into the “metaverse.”
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