The Biden administration unveiled a plan to reduce the downtime of ice cream machines at fast food restaurants. The unexpected move came as the economy registered an increase in inflation and the potential for increased rate hikes.
The Federal Trade Commission and the Department of Justice issued a letter calling for an exemption at the U.S. Copyright Office regarding fast food ice cream machines. Some restaurants, such as McDonald’s, are commonly known for having ice cream machines not working at a given time.
According to the letter, “renewing and expanding repair-related exemptions would promote competition in markets for replacement parts, repair and maintenance services, as well as facilitate competition in markets for repairable products.”
The letter cites long wait times at fast food restaurants for ice cream and that a “licensed repair technician charges over $300 per 15 minutes.”
The federal government has been investigating McDonald’s ice cream machines for the last three years.
NOT LOVIN' IT: The feds are demanding that the constantly broken-down ice cream machines at McDonald’s and other fast-food chains be more easily fixable. https://t.co/BBaIOoxdXO pic.twitter.com/rdw4mAA2oC
— Fox News (@FoxNews) March 16, 2024
The focus on ice cream machines comes during a time of increased concern about the American economy. Stocks ended the week lower after it was revealed that wholesale inflation had increased more than anticipated.
According to figures released Thursday, the producer price index increased 0.6% in February. his was double the 0.3% increase expected and the same 0.3% rate recorded in January. The index is a valuable tool for assessing inflation faced by American consumers because it measures the cost of goods used by manufacturers.
Overall, the core price index increased by 0.3% compared to the 0.2% expected. This core price does not count the volatile price of food and energy.
The index increased by 1.6% on a year-over-year measure, which is the highest amount in five months.
The increase in the rate of inflation could cause the Federal Reserve to reconsider possible rate cuts, which could happen as soon as this year. This also comes as the Fed may have to eventually raise rates to tamp down the rate of inflation should it increase again.
