Federal Trade Commission launches investigation into reports baby formula firms engaged in deceptive practices and price gouging and whether the GOVERNMENT contributed to supply chain chaos that caused widespread shortage

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  • The body is asking for public input on whether state or federal agencies have contributed to the fragile baby formula supply chain
  • FTC Chair Lina Khan said the shortage is ‘causing enormous anxiety, fear, and financial burden for American families’ in a statement on Tuesday
  • Last week roughly 45 percent of formula products nationwide were out of stock
  • The Biden administration was criticized for not acting fast enough to avert the crisis, which has been linked to multiple recent baby hospitalizations
  • President Biden signed a number of emergency measures for the shortage 

The Federal Trade Commission on Tuesday launched an investigation into the ongoing baby formula shortage that’s put a strain on American families across the country.

The body will look into whether formula suppliers engaged in ‘deceptive, fraudulent, or otherwise unfair business practices’ to ‘take advantage’ of Americans as well as what elements contributed to the fragility of the product’s supply chain and concentration of the majority of the market into a few companies.

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It also encourages Americans to speak out on whether the believe any policies created by the federal and state governments contributed to the crisis, as the Biden administration desperately works to alleviate the strain after being criticized for not acting sooner.

www.dailymail.co.uk/news/article-10850973/Bidens-FTC-launches-investigation-reports-baby-formula-firms-engaged-deceptive-practices.html

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