Biden Dictates Prices President Joe Biden tried to position himself in last night’s State of the Union address as the bulwark against the rising tide of threats to democracy. Then he dictated to the banking industry how much they can charge for credit card late fees, threatened action against chip makers who try to sell more ounces at the same price, and is banning what he calls junk fees. He has also pushed for higher mandatory wages. The he bragged, “And I’m not stopping there.” The President’s obsession with “shrinkflation” is silly, and his focus on its occurrence in junk food is awkward. But he can’t use meat since processor margins in that industry are negative. Even in the chip aisle...

TAGS – North America, Macroeconomics