Biden criticizes corporate "price gouging" amid economic concerns

President Biden criticized corporate "price gouging" in response to voter discontent over the economy. He approved a plan to rebuke firms for not lowering prices despite record profits. Biden's remarks come as corporate profits exceeded labor costs, accounting for over 15% of national income. The White House aims to pressure large companies to lower prices and pass on savings to consumers. However, economists disagree on the impact of corporate "greed" on inflation.