FTC Chair Lina Khan has been the subject of several House probes as she ramps up antitrust enforcement.
The GOP-led House Oversight Committee is launching an investigation into President Joe Biden's newly established task force on corporate-pricing practices, according to a letter obtained by CNBC.
Biden launched the Strike Force on Unfair and Illegal Pricing in March, to be jointly led by the FTC and the DOJ, which have been at the front lines of the Biden administration's antitrust agenda over the past several years. The House committee is demanding FTC documents related to the establishment of the task force, along with other antitrust investigations like the proposed merger of Kroger and Albertsons.
"The timing of the Strike Force announcement, in an election year, raises the likelihood that political motivations rather than the interests of American consumers drove the action," House Oversight Committee Chair Rep. James Comer, R-Ky., said in the letter."To use the FTC as a tool in a political witch hunt against U.S. businesses would be a shocking misuse of the agency's power.
But Biden's logic that companies are the ones responsible for high prices, not his economic agenda, could be taking hold with voters. AFriday's biggest analyst calls: Apple, Amazon, Tesla, Microsoft, Boeing, First Solar, Schwab & moreThis AI stock could fall 50% and has an ‘exaggerated artificial intelligence narrative,’ Morningstar says
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