FTC seeks information about supply chain issues

The Federal Trade Commission announced Monday that it is ordering nine large retailers, wholesalers, and consumer good suppliers to provide detailed information to help understand the cause of supply chain problems and skyrocketing prices.

FTC seeks information about supply chain issues
The Federal Trade Commission announced Monday that it is ordering nine large retailers, wholesalers, and consumer good suppliers to provide detailed information to help understand the cause of supply chain problems and skyrocketing prices.Walmart, Amazon, Kroger, Procter & Gamble Co., Tyson Foods, Inc., and Kraft Heinz Co. are among the companies that will be required to turn over information. “Supply chain disruptions are upending the provision and delivery of a wide array of goods, ranging from computer chips and medicines to meat and lumber. I am hopeful the FTC’s new 6(b) study will shed light on market conditions and business practices that may have worsened these disruptions or led to asymmetric effects,” said Chair Lina M. Khan.The FTC says its study will also examine whether specific bottlenecks, shortages, or anticompetitive practices are contributing to rising consumer prices.President Joe Biden met with the CEOs of major companies on Monday to discuss supply chain issues. The CEO of Walmart said Biden's push to improve the situation at ports has helped ease bottlenecks.