How did holding companies and trusts impact the US economy after the late 19th century?

Holding companies and trusts significantly shaped the U.S. economy after the late 19th century by facilitating the consolidation of industries, leading to monopolistic practices that stifled competition. This allowed a few powerful entities to control vast sectors of the economy, which often resulted in lower wages, higher prices for consumers, and reduced innovation. However, the concentration of economic power also prompted regulatory responses, such as the Sherman Antitrust Act of 1890, aimed at curbing monopolies and promoting fair competition. Ultimately, these structures played a crucial role in shaping the modern corporate landscape and economic policy in the United States.