Price controls set by the federal government help consumers during a time of high inflation by setting a maximum price for products or services. This ensures that prices do not rise too high, making goods and services more affordable for consumers. By limiting price increases, price controls can help prevent runaway inflation, which can be damaging to the economy and to consumers' purchasing power. However, it's worth noting that price controls can also have negative effects, such as creating shortages or reducing incentives for businesses to produce goods or services. Therefore, price controls should be used cautiously and in combination with other economic policies to promote stability and growth. The government does not set a minimum amount on how much an employee can be paid for work or give corporations money to keep prices low as part of price controls.