Sen. Jack Reed is asking the Federal Trade Commission to investigate possible price gouging by big egg companies because of the high price of eggs.
to FTC Chair Lina Khan Tuesday asking the agency to open an investigation “to examine soaring profits to see if ‘fowl play’ or collusive pricing by industry giants could be unfairly harming consumers.”“At a time when food prices are high and many Americans are struggling to afford their groceries, we must examine the industry’s role in perpetuating high prices and hold those responsible accountable for their actions,” Reed wrote in the letter.
“Consumers are used to seeing some volatility in the egg pricing market, but the current price spike in the industry’s favor warrants careful scrutiny," Reed said in a news release. "Independent federal watchdogs should look at the facts and follow the evidence to ensure consumers are treated fairly," Reed said.
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