Russia’s war, inflation prompt major economies to bring back price controls

An economic relic is coming back in an effort to fight global inflation. Price controls haven’t been largely used in almost 50 years, but with prices rising around the world and Russia’s war in Ukraine sparking fears of an energy crisis, they could be making a comeback. Matt Phillips, a markets correspondent at Axios, joined CBS News to discuss what price controls are and their potential pitfalls.

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