or for coverage on our audio app c-span now. c-span is your unfiltered view of government. we are funded by this television companies and more, including cox. >> committed to providing eligible families access to affordable internet. bridging the digital divide one connected and engaged student at a time. cox, bringing us closer. >> cox supports c-span as a public service. giving you a front row seat to democracy. >> president biden met with administration officials to discuss efforts to reduce inflation and create more competition between companies and businesses. this is 10 minutes.

>> president biden: hello everyone, please sit down. it is good to see you all. let's have a cabinet meeting. really, thank you for what you all are doing. we have a lot more good things to do as well. back in july i signed an

adjective order to promote competition and build an economy that works for everybody. not just a few. competition results in lower prices for families. it results in fair wages for workers and as you all know, competition encourages companies to innovate but what we have seen over the last few decades is less competition, more concentration, that literally holds the economy back. in too many industries, a handful of giant companies dominate the entire market. we see it in big agriculture. big tech, big pharma, the list goes on and rather than competing for customers, they are consuming their competitors. rather than doing what they should be doing, they are doing

the opposite and having a negative impact. between generating higher prices and lower wages, lack of competition costs, the median family household -- $5,000 per year is the median income. my executive order is changing that as everyone at this table knows. it included 72 specific actions for federal agencies and helps nourish competition in our economy. it includes creating a competition counsel. and it is comprised of cabinet members and several independent agencies to coordinate and monitor our progress across the entire federal government. in six months since i issued the order, we have met every deadline so far. here are just a few examples,

the right to repair, it sounds a little safety -- silly saying it that way. too many areas if you don't -- if you own a product from a smartphone to a tractor, you don't have the freedom to choose how or where to repair that item you purchased. it is broken -- what do i do about it? if it is broken, you had to go to the dealer and pay the dealer's cost. their prize. if you try to fix it yourself, some manufacturers actually void the warranty or disable the features on that product they sold to you. denying the right to repair raises prices for consumers and that means independent repair shops can't compete for your business and my executive order announced that support for the rights of pair -- repair.

i was pleased to see the federal trade commission unanimously announced it would ramp up enforcement against illegal repair restrictions. companies voluntarily agreed to change their restrictions on repairs. what happened was a lot of these companies said we will voluntarily do it. you don't have to order us to do it. apple and microsoft are changing their policies so people will be able to repair their phones and laptops themselves. i am not sure i know how to do that -- whenever i have a problem on my phone, i call my daughter but it will make it easy for millions of americans to repair their electronics instead of paying an arm and a leg. hearing it, roughly 48 million people suffer from hearing losses in america.

but to get the hearing aid, people have to go see a specialist and then get a prescription. then they pay thousands of dollars for a pair of hearing aids. that is a big part of why only one in five people who could benefit from a hearing it actually use one. my competition executive order changes that. the food and drug administration released a new proposal that would make it possible for hearing aids to be sold over-the-counter without a prescription. we expect this will lower costs for hearing aids for thousands of dollars -- from thousands of dollars to hundreds of dollars. saving people hundreds and hundreds of dollars. people can pick them up at a local pharmacy, saving time and money and helping the tens of millions of people with hearing loss who don't have hearing aids now. in too many industries, big companies, big companies can use

their power to squeeze out smaller competitors. they can stifle new competition, raise prices, reduce the choice for customers and exploit their workers. i have said it before, capitalism without a petition is not capitalism. it is exploitation. the department of justice has ramped up their efforts to scrutinize these mergers. it includes challenging or blocking mergers that are bad for the economy and your pocketbook. that apartment of justice just took action to block a bigger merger that would have resulted in two brokerages dominating the insurance industry that would have resulted in customers having fewer choices, higher prices and lower quality services. the bottom line, this is not just about quick wins, it is about reversing decades of concentration that have hurt workers, consumers and small businesses.

it has been over a long time. this is just the beginning. americans can expect to see more protections for farmers and ranchers selling party -- selling things like beef and pork and poultry. more clarity in the actual price you will pay for high-speed internet services and airline tickets. we will also keep pushing on other priorities like addressing the noncompete causes that affect one in five workers. one in five workers has to sign a noncompete clause. it stuns me that this is how this came about, this whole compete of counsel. i knew it was all going on but when i realized how many people out there with no special insight to having access to patents or anything else had to sign a noncompete clause. people making hourly wages all

designed to keep prices down -- keep wages down and prices up. one in five workers had to give the company the power over their careers. the bottom line is our economy should not be about people working for capitalism. it should be about capitalism working for people, not everyone. i will turn this over to brian to get this meeting started. thank each and everyone of you on this counsel. even when we decided to do this counsel, you all thought it was a good idea but i would be surprised if some of you did not go i did not realize how restrictive some of this was. you are going to make a difference in ordinary people's lives. ordinary people's lives are going to make a difference. the floor is yours, brian.

>> you never report on why i call the media. i had a very good meeting. we will talk about it later. thank you. that is great. more inflation. what a stupid son of a -- >> at least six presidents recorded conversations while in office. here many of those conversations . >> season one focuses on the

presidency of lyndon johnson. you will hear about the acting 64 civil rights act, the march on selma and the war in vietnam. not everyone knew that they were being recorded. >> certainly johnson's secretaries know because they were tasked with transcribing many of those conversations. they were the ones who made sure the conversations were taped as johnson would signal to them through an open door between his office and theirs. >> you will also hear some blood talk. >> i want a report on the number of people that signed the day he died. if i can't ever go to the bathroom, i won't go. i won't go anywhere. i will stay right behind his blankets. >> presidential recordings, find it on the c-span now mobile app or wherever you get your podcast.

>> c-span's washington journal, everyday we take your calls live on the air on the news of the day and discussed policy issues that impact you. coming up tuesday morning. the manhattan institute senior fellow discusses his book, the cloud revolution detailing how technology and automation will change the future of work and it could spur an economic boom. and then discussion on efforts to prohibit congressional members from training individual stocks while in office. watch washington journal live at 7:00 p.m. is to on tuesday morning on c-span or c-span now, our new mobile app. join the discussion with your phone calls, facebook comments, text messages and tweets. over the weekend, robert f kennedy junior compared covid-19 exit