Investigating Food Supply Vulnerabilities

President Donald Trump signed an executive order Saturday establishing food supply chain security task forces within the Justice Department and Federal Trade Commission. The goal? Root out price fixing and anti-competitive behavior that may be inflating your grocery bill.

The order specifically targets what the administration sees as vulnerable sectors: meat processing, seed, fertilizer, and equipment. According to Trump, these industries are at risk of price manipulation and anti-competitive practices, particularly by foreign-controlled corporations. The task forces will dig into whether foreign control of these food-related sectors is driving up costs for American consumers or creating national security risks.

If investigators find evidence of anti-competitive behavior, the Attorney General and FTC Chairman have broad authority to respond. That could mean criminal proceedings, enforcement actions, or recommendations for new regulations.

The Affordability Crisis Debate

This move comes as grocery prices remain a sore spot for American households. The Trump administration has tried addressing food costs through tariff exemptions, but concerns about affordability keep mounting.

Moody's Analytics Chief Economist Mark Zandi isn't mincing words, warning that the U.S. faces a "serious affordability crisis." His take? That stubborn 3% inflation isn't coming from natural economic forces. Instead, he argues it's being driven by policy decisions, specifically higher tariffs and tighter immigration rules.

The data tells a somewhat mixed story. Earlier this month, Core PCE—the Fed's preferred inflation measure—eased from 2.9% to 2.8% for September. Meanwhile, personal income climbed 0.4%, beating the expected 0.3%, thanks to higher compensation and asset income. Monthly inflation for September came in at 0.3%, matching both August's pace and expectations.

This isn't Trump's first rodeo investigating food industry pricing. Back in November, he ordered the Justice Department to probe major meatpacking companies for suspected price manipulation in beef markets, citing worries about foreign ownership and market distortions affecting both ranchers and consumers.