President Biden on Friday signed an executive action that seeks to
rein in corporate powerhouses and boost competition across a slew of major industries.
The sprawling action, which includes 72 different directives, is meant to address growing concerns from Democrats about corporate consolidation in the U.S. economy and add scrutiny to the ways airline fees, prescription drug costs and Internet service are priced.
Yet the executive order largely relies on federal agencies to enact the changes, and it could take months for any concrete actions to surface. Still, Biden’s order could mark the beginning of a set of policy shifts that redraw how the federal government focuses on corporate behavior and the impacts for consumers.