U.S. Economy

SOURCE www.nytimes.com
President Biden is blaming big corporations for price increases due to 'shrinkflation' - reducing package sizes while keeping prices high. He is considering executive actions and new legislation to address this issue.

Key Points

  • President Biden is blaming companies for reducing package sizes without reducing prices
  • Consumer advocate Edgar Dworsky has influenced Biden's stance on 'shrinkflation'
  • Biden may take executive actions and support new legislation to address this issue

Pros

  • Addressing consumer concerns over 'shrinkflation'
  • Taking action against corporate practices that harm consumers

Cons

  • Potential backlash from corporations and business interests