Antitrust was as relevant as it had been in recent memory. Over the prior two years, inflation had soared to its highest level in decades, and politicians on both sides of the aisle called for stronger antitrust enforcement as a means of slowing it.

The Antitrust Division of the Department of Justice had recently made front page news when it brought a lawsuit against one of the biggest technology companies in the world. Publications like the New York Times marveled at the unusual attention antitrust was getting, noting the “new wave of anti-trustism” that had swept the country.