At the urging of big business opponents, President Biden appointed Lina M. Khan, an advocate for greater government control over the economy, to chair the Federal Trade Commission. The FTC has now declared that the agency has, and will exercise, extraordinary powers that it never before asserted.
On strict party lines, the FTC released a November 10 Policy Statement on enforcement against “unfair methods of competition” under Section 5 of the FTC Act. The statement claims “to assist the public, business community, and antitrust practitioners by laying out the key general principles that apply to whether business practices constitute unfair methods of competition.” In fact, the statement provides little guidance and no comfort.
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