CNBC Television published this video item, entitled “LIVE: House hearing on baby formula safety and supply — 5/25/22” – below is their description.
The House Energy and Commerce Subcommittee holds a hearing on “Formula Safety and Supply: Protecting the Health of America’s Babies.”
The Federal Trade Commission is launching an investigation into whether mergers in the baby formula industry contributed to the current shortage.
The FTC also said it would use the full force of the law against individuals or businesses that are taking advantage of the shortage by price gouging parents.
President Joe Biden asked the FTC earlier this month to investigate the infant formula shortage to find out whether manufacturers contributed to it by keeping formula from smaller retailers.
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LIVE: House hearing on baby formula safety and supply — 5/25/22CNBC Television YouTube Channel
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