Commerce Secretary Gina Raimondo is questioned by CNBC about President Biden's price-fixing plan and the causes of inflation.

Gina Raimondo, the Secretary of Commerce, rejected Vice President Harris' price-fixing plan, claiming it to be a "Republican talking point."

Eisen inquired, "You mentioned that Vice President Harris has a pro-business vision and is pro-business. However, some of our viewers and businesses we've spoken to have expressed concerns about price controls, going after price gouging, and corporate greed. Could you clarify what this means for businesses under a Harris administration?"

On Wednesday, the Harris campaign declared that she would implement a federal price-fixing plan as president to prevent "big corporations" from exploiting consumers.

Raimondo stated that she is not in favor of price fixing, which is a Republican talking point. She emphasized that everyone must adhere to the rules, and there should be no collusion, price gouging, or taking advantage of consumers. She vowed to pursue bad actors who attempt to circumvent the law.

"The commerce secretary stated that there has been a distortion of her view, and although she is not for price fixing, she is extremely serious about reducing costs for Americans and will utilize every tool at her disposal to achieve this goal."

Harris advocated for a federal prohibition on inflated pricing for food and medication, as Eisen highlighted.

The host stated that the government regulates the fair price of goods in that location.

The proposal of Harris was criticized by members of the media and prominent economists, including former Obama adviser Jason Furman, who stated that the plan was "not a sensible policy."

As long as companies adhered to the rules, Harris would not target them, according to Raimondo.

Raimondo emphasized the importance of focusing on facts rather than political rhetoric. He pointed out that many states, including Rhode Island where he served as governor, have anti-price gouging regulations. He also mentioned the existence of usury laws, antitrust laws, and how these laws have been in place for centuries to regulate the economy. Raimondo clarified that the proposed measures were not broad price controls but rather targeted actions against companies with evidence of wrongdoing. He praised the lawyer and prosecutor for their expertise and emphasized that their actions would be evidence-based.

Eisen raised doubts about whether corporations were truly responsible for the high inflation and rising grocery prices.

Raimondo stated that the initial price spikes were due to COVID-related disruptions in supply chains. However, since supply chains are now moving, they cannot claim this as the reason for price increases. Gas prices, food, and wages are all factors that contribute to price increases. If there is evidence of retailers price gouging, President Harris will take action to protect American consumers.

Catherine Rampell, a Washington Post columnist, criticized Harris' plan to implement federal price controls to stop "price gouging" on groceries.

"Rampell wrote in an op-ed that the policy is a near-total government control of prices across all industries, with supply and demand no longer determining prices or profit levels. Instead, far-off Washington bureaucrats would decide prices, as seen in the FTC's ability to dictate the acceptable price for milk at a Kroger in Ohio."

Rammpell later clarified that his initial statement was a general call for increased antitrust enforcement, which he supports.

Planet Chronicle' Jeffrey Clark contributed to this report.