Current:Home > MarketsTrump names Andrew Ferguson as head of Federal Trade Commission to replace Lina Khan -Momentum Wealth Path
Trump names Andrew Ferguson as head of Federal Trade Commission to replace Lina Khan
View
Date:2025-04-15 10:07:16
WASHINGTON (AP) — President-elect Donald Trumpon Tuesday named Andrew Ferguson as the next chair of the Federal Trade Commission.
He will replace Lina Khan, who became a lightning rod for Wall Street and Silicon Valley by blocking billions of dollars’ worth of corporate acquisitions and suing Amazon and Meta while alleging anticompetitive behavior.
Ferguson is already one of the FTC’s five commissioners, which is currently made up of three Democrats and two Republicans.
“Andrew has a proven record of standing up to Big Tech censorship, and protecting Freedom of Speech in our Great Country,” Trump wrote on Truth Social, adding, “Andrew will be the most America First, and pro-innovation FTC Chair in our Country’s History.”
The replacement of Khan likely means that the FTC will operate with a lighter touch when it comes to antitrust enforcement. The new chair is expected to appoint new directors of the FTC’s antitrust and consumer protection divisions.
“These changes likely will make the FTC more favorable to business than it has been in recent years, though the extent to which is to be determined,” wrote Anthony DiResta, a consumer protection attorney at Holland & Knight, in a recent analysis.
Deals that were blocked by the Biden administration could find new life with Trump in command.
For example, the new leadership could be more open to a proposed merger between the country’s two biggest supermarket chains, Kroger and Albertsons, which forged a $24.6 billion deal to combine in 2022. Two judges halted the mergerTuesday night.
The FTC had filed a lawsuit in federal courtearlier this year to block the merger, claiming the deal would eliminate competition, leading to higher prices and lower wages for workers. The two companies say a merger would help them lower prices and compete against bigger rivals like Walmart.
One of the judges said the FTC had shown it was likely to prevail in the administrative hearing.
Yet given the widespread public concern over high grocery prices, the Trump administration may not fully abandon the FTC’s efforts to block the deal, some experts have said.
And the FTC may continue to scrutinize Big Tech firms for any anticompetitive behavior. Many Republican politicians have accused firms such as Meta of censoring conservative views, and some officials in Trump’s orbit, most notably Vice President-elect JD Vance, have previously expressed support for Khan’s scrutiny of Big Tech firms.
In addition to Fergson, Trump also announced Tuesday that he had selected Jacob Helberg as the next undersecretary of state for economic growth, energy and the environment.
___
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (864)
Related
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Southern Illinois home of Paul Powell, the ‘Shoebox Scandal’ politician, could soon be sold
- Kansas and North Carolina dropping fast in latest men's NCAA tournament Bracketology
- A Black author takes a new look at Georgia’s white founder and his failed attempt to ban slavery
- Global Warming Set the Stage for Los Angeles Fires
- Relive the 2004 People's Choice Awards: From Oprah Bringing Her Camcorder to Kaley Cuoco's Y2K Look
- A California judge is under investigation for alleged antisemitism and ethical violations
- Trump rails against New York fraud ruling as he faces fines that could exceed half-a-billion dollars
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- A Guide to Teen Mom Alum Kailyn Lowry's Sprawling Family Tree
Ranking
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- A Guide to Teen Mom Alum Kailyn Lowry's Sprawling Family Tree
- A man in Iran guns down 12 relatives in a shooting rampage with a Kalashnikov rifle
- An ecstatic Super Bowl rally, upended by the terror of a mass shooting. How is Kansas City faring?
- Retirement planning: 3 crucial moves everyone should make before 2025
- A year after Jimmy Carter’s entered hospice care, advocates hope his endurance drives awareness
- Israeli troops enter Al Nasser Hospital, Gaza's biggest hospital still functioning, amid the war with Hamas
- Pesticide linked to reproductive issues found in Cheerios, Quaker Oats and other oat-based foods
Recommendation
Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
Here’s a look inside Donald Trump’s $355 million civil fraud verdict as an appeals fight looms
Fear of God Athletics reveals first foray into college basketball with Indiana and Miami
Ouch: College baseball player plunked seven times(!) in doubleheader
Intel's stock did something it hasn't done since 2022
Longtime Maryland coach, Basketball Hall of Famer Lefty Driesell dies at 92
Feds charge Minnesota man who they say trained with ISIS and threatened violence against New York
Vince Carter, Doug Collins, Seimone Augustus lead 2024 Basketball Hall of Fame finalists