to confirm an ftc chairman. she's been a champion of making broadband more affordable and addressing the digital divide on disadvantaged communities. in particular i've watched her in hartford talk about this issue with -- clarity this moment really demands and i know she will make us proud as she has already of her public service when she's confirmed as the next chairman of the federal communications commission. thank you to you and your family. commissioner rosenworcel and wish you well. i know they are watching and they are --. thank you. >> thank you senator blumenthal. now senator lieu han introducing mr. bedoya. >> thank you. it is my pleasure to introduce mr. alvaro bedoya. his nomination to the federal trade commission is a clear example to the administration's commitment that united states is at its strongest when our nation's public servants reflect the full diversity of the american people. the proponent for more hispanic voices at the highest levels of government, i am proud to introduce approve alva

is that something the ftc can do? >> we do work closely with local police offices and have -- >> have you put together training for them, even just a deck of slides for police departments to use to train also l police officers? >> i do not know if we've specifically done a training for police officers, but we do have a toolkit actually on stopping gift card scams. the driving force of it, the message is that gift cards are for gifts and that toolkit is targeted toward retailers and it gives them information they can display in their stores. >> that's good. that's super helpful. well, maybe then, i mean, on this committee will have recommendations because that's what our committees do. just from this hearing alone, i hope that you will take some of the information you learned here and implement it. >> well, thanks very much. >> thank you, mr. chairman. >> thank you, senator gillibrand. we will turn to senator blumenthal. >> thank you, mr. chairman. thank you to you and senator scott for having this hearing. i'd like to

the ftc devotes resources to outreach and edgy patient for older adults.ass it on has been the signature campaign for older adults. it has a bunch of resources to understand scams and pass on information to friends and family. the ftc continues to read during the pandemic. they have nearly 100 outreach related events. i hope that protecting older adults is a priority for the ftc staff thank you very much and i look forward to your questions. >> thank you for your statement and that we will turn to ms. williamson. >> mr. chairman and members, thank you for inviting me to testify today regarding fraud and scams in older adults during the covid-19 pandemic stop i offer my testimony on behalf of low income clients of the national consumer law center. the national consumer law center uses its expertise on consumer law and energy policy to work for consumer justice and economic security for low income people at n. c. l. c. i focus on issues impacting older consumers provide training through the , national center on law and elder rights and direct our racial just

the ftc listing is appropriate but we have to do more than that.d then to supply that to america and with a strategic petroleum reserve and you know this. they made the decision when oil was 22 or 30 bucks the barrel even producing i would not do anything for the current supplies let's talk about what we can do to increase the temporary ban on oil exports. >> at least they are acknowledging they have a problem with inflation facing the most expensive thanksgiving ever this is not really addressing the problem. >> . >> it does exist but it is because it is covid or all of these other factors. the white house has a messaging problem and i watched jennifer granholm last week energy secretary on with bloomberg and about rising gas prices she laffer for our fives seconds and she says i don't have a magic want to fix this problem. so in terms of perception if you close a piece on —- the keystone pipeline five minutes after taking office and you explore may be closing a pipeline with michigan it looks like you are not doing anything to fix the problem. ge

the ftc chair said in announcing this investigation, i'm hopeful the ftc's new study will shed lights that may have worsened these disruptions or led to asymmetric effects. it's worth pointing out though, president biden, just a couple of weeks ago, asked for a similar investigation by the ftc into the oil & gas industry, about higher prices at the pump. the oil & gas industry pushed back saying that's just a distraction from the higher prices and the bad policies from the administration that's creating them. we reached out to several of the companies that were a part of this investigation. we haven't heard back from any of them. neither the president in that instance two weeks ago nor the ftc in announcing this inquiry, charles, used the word rigging but it's sort of the implication that these companies are creating these higher prices in order to enhance their profit. charles: it's absolutely nuts to me. kroger was at the white house yesterday, walmart was at the white house yesterday, there's going to be a 3:45 call, president biden was updating us on the great meeting and instead

the importance of the ftc work with what we hope to be your future colleagues.y view is you cannot take on the biggest companies the world has ever known if you need resources and talk about the importance of that in the privacy area and the antitrust peace. >> i emphatically agree so those in the competition bureau and those that do extraordinary work that we are warped by similar consensus in a way to confirm that. >> and then privacy legislation. l i know that they are working together and we have this earth shattering testimony to after yearsblower of working on this that crystallizes to feel out of control and that data being shared in companies profiting over individuals. anden this is a softball. perfect. [laughter] for what we have to do going forward. >>>> certainly my bipartisan oversight work speaks to the ability to do this i have been thinking. >> very good thank you to working with you on —- forward to working with you. >> chair t14 when do you estimate you will have new maps quick. >> thank you for the question i anticipated you may not ask becaus

he has asked for the ftc to take a look at this. this administration is looking at every single tool to shield families from the rising cost of fuel and that is why funds are an important tool for low income assistance, the american rescue plan has additional funds to help families pay their utility bills, and of course the president today has announced he is directing the department of energy to make up to 50 million barrels of oil from the strategic reserve available. we have been having these conversations with other major economies as you have heard, and since that has been happening, we have seen oil prices fall nearly 10%, which i think is a testament to the presidents leadership for looking at every tool possible to bring down the price. of course, oil is traded on a global market and the more countries that can join us, the more the impact will be. in response to the president's announcement, the department of energy is moving to make two slugs of oil available. 32 million barrels through an exchange, and that means oil that

have you heard back from the ftc? sec. psaki: they are obviously an independent actor and we will let them speak for themselves. i would point to the fact that we sent a letter to them earlier this year, where we expressed a concern about monopolies or oral conglomeration of oil companies. something they responded to and took action. go ahead reporter: couple of days ago, president biden was in michigan and thinking congresswoman rashida tlaib. now she is supporting legislation that would release all federal prisoners within ten years. would the president ever support that? sec. psaki: the president entered using michigan and visiting congresswoman to tlaib's district. but let me be clear, the president does not support abollishing prisons and does not support defunding the police. he thinks measures like that will make us less safe. what he does support is effective and accountable community policing and investment in public health, education, the environment, housing, community-based programs. but he knows there are step

they said in particular they are working with the ftc with some compromises on concerns the ftc has.loomberg broke the news in february that the ftc was looking at a probe into the nvidia arm deal. we got news that the u.k. regulator is looking into the deal, but from a national security perspective. the cfo said they acknowledged the concerns, but also some competitors, but same language as last quarter. so fighting talk, but these are ongoing concerns from wall street about what kind of involvement, what kind of action regulators will take if this deal happens to get over the line. emily: ed, thanks a much. earlier this on, alphabet surpassed the $2 trillion market cap. where is the next trillion dollars in growth going to come from? i sat down with alphabet ceo sundar pichai to talk about google's biggest moonshot, facebook's continuing controversies, and whether the search giant will have a role in the metaverse. take a listen. sundar: as a company, we are trying to do more with less data. one of the biggest changes we made was making auto delete the new setting for users signing

big run on gasoline prices are sliding is that a new trend or just a breather the president asked the ftc to investigate oil and gas companies speculators are trading options. what this means for your portfolio. so here is the tale of two markets, you are seeing contradictions tell us about some of these. >> you mentioned inflation and that is the conversation of today. we have this what we've seen in decades but how much will stick? if you look at the bond market they are still below where they were at the beginning of last year before the pandemic lockdown so the institutional bond says i'm not that worried about inflation —- inflation sticking but if you look at inflation protected treasures we call them tips that is way down that looks like panic buying because it is a much smaller market and a pay any price to get protections right now people are buying five-year tips walking in negative returns of one.9 percent per year after the in place on —- inflation adjustments. forget the tips are the goals the stock market is relative to either one. >> in the supply chain from what we hear ab

the trans- the ftc maystill take action . based on law violations. it is deeply troubling that the cfpb made these threats when it had no legal authority to follow through because of housing rentals and landlord-tenant laws are outside his jurisdiction . the line cfpb has refused to ovcomply with legitimate congressional oversight requests. according to press reports abiding cfpb has taken unusual and possibly unlawful ci actions to push out career civil servants in order to replace them with political loyalists. in june i sent the cfpb a letter seeking documentsabout these allegations . for five months the cfpb has sought to evade this legitimate oversight request. in june the cfpb claimed needed more time to respond then in july instead of providing records the cfpb claimed the privacy act prevented it from producing any of the requested records. after my staff challenged that claim the cfpb finally produced some heavily redacted records this month, just this month. despite the heavy reactions, at least one document referred to and i quote, volunta

or to the ftc.ard back from the ftc? >> they're an independent actor. we will let them speak for themselves. we sent a letter to them earlier this year where we expressed a concern about kind of monopolies or conglomeration of oil companies. something that they responded to. i point you to them for their response. >> a couple days ago, president biden was in michigan and thanking congress woman rasheeda talib. she wants to release all federal prisoners within ten years. would the president do that? >> the president enjoyed visiting congress woman talib's district. the president does not support abolishing prisons or defunding the police. he thinks measures like that will make us less safe and he would not support legislation for that. he supports effective and accountable policing and a fair justice system and investment in public health, case, the housing, the community. he believes there's steps that we know that will reduce crime and make our neighborhoods safer but that is not one of them. >> an

. >>> president biden is calling on the ftc to investigate whether illegal conduct could be causing as prices. the average cost of gasoline is up nearly 50% from a year ago to $3.41. the ftc says they're looking into it. >>> and this week marks a new era in cleveland baseball as the indians will officially change their name to the guardians. the team's website and social media will transition to the new name on friday. for more news download the cbs news app on your cell phone or connected tv. i'm tom hanson, cbs news, new york. ♪ >> announcer: this is the "cbs overnight news." >>> good evening and thank you for joining us. we want to begin with testimony today from the man who shot and killed ahmaud arbery. travis mcmichael is accused of murder along with his father and a neighbor who chased arbery through their georgia neighborhood before killing him. the men say they suspected arbery of burglaries and were attempting to make a citizen's arrest. mcmichael told the judge that he wanted to tell his side of the story, and he tear up as he described the moment he fired his shotgun three

the ftc chair says i'm hopeful the ftc's new study will shed light on market conditions and businesses that may have worsened these disruptions or led to asymmetric effect. it is worth noting this comes two weeks after president biden asked the ftc to look at the oil and gas industry and how they could be partly to blame for higher prices at the pump. the oil and gas industry pushed back saying that a distraction from policies that led to higher prices. we reached out to several companies we mentioned in this report. we haven't heard back from any of them but they would blame factors that are out of their control for higher prices at the supply chain strain they are dealing with. neil: i to go to steve more on this, pointing the finger at someone else other than anyone residing in the white house, what do you think? >> the object of the ftc, the woman who runs the ftc is a 32-year-old university professor who was never in business her whole life, she knows nothing about this. the university professor, businesses are intentionally not stocking their shelves of goods and services to ge

the ftc chair is pushing to change something.what way is the ftc looking to change the law that would allow workers to get organized? >> the chair is pushing for change in different ways. lena, and as cold for congress -- she has asked for legislation to clarify the law and ask for guidance from the u.s. justice to artman, that would clarify current antitrust exemption should be extended to gig workers. romaine: there is talk about not only the antitrust law, but wage regulation. there is a nomination for a new chief wage regulator. that has been held up because of the same issues holding up progress on the other law as well. >> yes, exactly. he is known as an academic and former head of a division that focused on the central tension in the gig economy and the courts, their status as independent contractor versus employee. taylor: what is the tone on that? we had a great interview with the professor from nyu focus on the gig economy, and you wonder what the academics and professors are thinking about the solutions, because we hav

and president biden calls on the ftc to look into so-called

charles: two republicans on ftc to quote, ask for any mounting evidence.t biden said, they would like to deep in quote, illegal conduct. >> where is it? charles: no one knows. ftc said you are making the charge, point us in the right direction. >> you know it doesn't exist. it is the blame game. they blamed saudis, russians, oil and gas drillers, frackers, alaska, the keystone pipeline. now they're blaming gas station operators. charles: yeah. >> you really think, i don't know in your hometown all the gas station guys go have a beer at some bar go to 3.25 or 4. of course not. it's a competitive game. it is called capitalism. you know what? miss brainard doesn't believe in the capitalism. the new vice-chair. we had a congressman on to kept asking are her, williams of texas. charles: president biden at the podium. take a listen. >> cities and towns all across america to celebrate thanksgiving. as they do i want to take a moment to talk about the economy, both the progress we made and the challenges we remain, we have to face. we made historic progress over t

appreciate the guidance on both that and the ftc letter.nk you happy friday >>> steve liesman is back. steve. >> yeah, david fed gvovernor coming out with some of the most hawkish statements he favors a quicker taper and quicker rate hike. he says a faster taper could accelerate other steps by the fed. essentially he means faster rate hikes and favor as gradual reduction in the balance sheet one of the few fed officials to talk about what happened to the $8.5 trillion balance sheet. he says inflation is affecting expectations of monetary policy and he's concerned about the rise in inflation expectations says the committee could slow down or speed up the pace of the taper. he is new. we don't know if he's speaking but i will say there have been hawkish comments recently from other fed officials. charley evans says this yesterday, he could see 2022 for the rate hike in the summer. boston saying it's possible in the summer too and john williams, i reported 24 hours ago about this time yesterday, says he sees inflation as more broad based. >> t

the ftc's not commenting because it's an active investigation at this point.out 18% of the homes use heating oil. this is part of the the that pays the most. they're looking at a 39% increase right now from this time last year and, neil, if prices continue to stay high, we already told you, we could be expecting even more across all fuel categories. neil: all bents are off. madison, thank you very much. well, this is industry-wide, and if my next guest is right, especially if you are heating your home with natural gas, this new law, new infrastructure package could actually make that even pricier. karen harvard. karen, explain how this new measure could affect those gas prices. >> well, thanks, neil, and you're absolutely right. what congress is debating right now is putting a tax on every american that uses natural gas at home. that's 180 million americans. politicians should know that's more people than voted in the last election. so the idea that at this point going into thanksgiving, christmas, the holidays when we want to be at home with our families cook

and gas supplier s which is the ftc's job. other part of the playbook is to reduce supply in the national petroleum reserves. we tuck away millions of gat -- gallons of fuel in case of emergency. we're not paying as much now as we did temp years ago. gas prices have actually been much worse. here's a chart from an economist. the hine tells the tale. you see that big spike. that was july 2018. -- 2008. that was the highest. is what we're going through painful? absolutely, but we have gotten through this before. we're going to get through it again. a much bigger concern is home heating oil and propane. those keep americans from freezing to death. the white house has moved emergency funds to help struggling families pay bills as part of the home energy assistance program. >>> president biden was in detroit yesterday touring a general motors plant where they build electric tars. part of the infrastructure bill is a new look at the national network of car chargers. they're going to build those out. canadian prime minister justin tr

say sicking ftc to go after oil and fast companies. blaming meat process oars for high meat prices.es not moving off goods off shipping dock fast enough. taking fewer and fewer questions as he continues to avoid interactions with the press. saint lou fed advised to go to tofu turkeys and soy based meals as prices going up. this is the same thing that took out nixon, ford, and carter. they had trouble with this. you can't topspin it. >> absolutely. elizabeth: you can't topspin it. its with the reagan too. go ahead. >> i would say george bush, sr. was taken out for the same reason, rising gasoline prices. listen at the end of the day biden is blaming everybody. he is even blaming americans, saying hey, it your fault. you didn't buy an electric car. i hate to tell mr. biden fill your electric car is 20% more than it was because electricity is going up. this is it. this is an administration that takes responsibility for nothing, nada, especially energy prices. elizabeth: let's watch biden. >> you and i talked about it. we predicted this would happen. now it is happening. now it is someb

there's no immediate action in the ftc investigation. increase simply has said no. >> edward, thank you very much. let's bring in charlie le duff from the news hour podcast joining us from his workbench in michigan. i know you said you worked hard on that background. it's you, charlie. we love it. >> no books. no books. >> martha: no awards, he says. how do you make sense of this? the white house is sending a strongly worded letter to the oil and gas companies that have been discouraged from expanding their business anywhere in the country any time recently. so the price doesn't take a masters in econ that that will drive the prices up, right? >> right. i have a bachelors in econ and they're called futures markets. market is looking into the future and say there's a choke point, prices go up. that's what's going on. >> martha: tell me what you think the people of michigan. the governor of michigan has been one of the people that said let's look at this line 5 pipeline that comes through michigan and study whether or not we should continu

but you look at the sec, the ftc, you look at janet yellen in treasury and then you also kind of look's antitrust division. look at the people that he's put in the those posts including a commissioner to the ftc, gigi sohn, and, you know, she's very radically left on regulatory issues. you know, he's caved to the left. so maybe this is where he draws a line in the sand, but i'm telling you, liz, you know, people are giving lael brainard the edge. do you want to talk about amc? i know you love this stock. >> oh, i absolutely do. it is jumping 7% right now. and i heard from a lot of people in the twitterverse who were excited to see you come back. in fact, one of them told me that i should show you no mercy. that, of course, from kobra kai. >> yeah, of course. how many followers does kobra kai have? liz: she's got -- hold on, is it 4 million? what does it matter? she had a good -- >> i think it's 4. [laughter] well, listen, i don't care if this thing goes to 100, this is not a short squeeze. this is light volume trading going up, this is the apes buying more. and all's i'm pointing out

create fake profiles and lure in victims with the promise of huge returns on a crypto investment the ftcported losing $2 million just to elon musk impersonators i've seen myself on twitter. experts say anyone with a public profile can be impersonated and so far there's not much being done to prevent it from happening. here's andrea day. >> reporter: instagram influencer brandy morgan started her account to connect with other women in tech. >> my real profile is miss brandy morgan. there wasn't a ton of females showcasing coding on instagram so that was the original story. >> reporter: photos of morgan working at her commuter with inspirational captions have attracted 56,000 followers but also grabbed the attention of scammers. >> a lot of these have been taken. a lot of times my followers will send me this person either just reached out to me or i just saw your photo on this account that's usually how i find out about it. >> reporter: morgan says there's been so many imposter accounts using her photos, she posted videos on her account to explain. >> it's sad because these people that are

the companies have 45 days to respond to the ftc's request.responded to the probe on good morning america. >> we are just learning about that as well. a lot of what you see in stores and online, all the products and what is available, those of the results of plans that started over a year ago. our merchants work about 12 months out to determine what the trends are and what people will be looking for and we are proud of our inventory position at this point. kumasi: he also talks about store deliveries, hot items, and last-minute shoppers. watch the full interview coming up on gma at 7:00. reggie: tickets are about to go on sale for the annual bottle rocket move -- music festival. presale tickets for napa residents and american express customers go on sale monday. the holiday presale for the public begins tuesday. here is the thing, we do not know who will be performing. people just want to go regardless. tickets for the event cost $370 according to "the chronicle." the festival will return to its original calendar spot this year. they held it d

he also asked the ftc to look into whether any price gouging is going on at the pumps. >> gas supplynies are paying less and making a lot more. they do not seem to be passing that on to the consumers at the pump. >> critics say the white house has helped drive up oil prices by cutting domestic production. the move comes as more than 53 million americans are expected to hit the road thanksgiving. >> we won't be alone out there. >>> tonight, b.a.r.t. is stepping up air quality efforts to keep writers on board through the holidays. the filters change out the air in each car every 70 seconds, and trap particles as small as 0.3 microns. >> as long as you stay away from everyone, and have your mask on all the time. >> reporter: you feel pretty safe? >> yeah, definitely. >>> sugar bowl is the latest sierra resort to give up on the idea of thanksgiving skiing. it has joined heavenly and north star in delaying the opening indefinitely. >>> it is to warm out there. it needs to be cold again. >> we need more moisture and have been in short supply in the last few weeks after that great start. th

which is the ftc job. like ordering the fbi to look into bank robberies. they already do that.y book which he hasn't run yet. it reduce supply in the national reserve. we tuck away millions of gallons of fuel in case of emergency. but, the government can stop filling it and reduce demand. from a historical point of view we're not paying as much now as ten years ago. gas prices have been worse. july of 2009, a barrel of oil back then $147. it's about 80 bucks today. >> all right. you can see scott and the rest of the morning team every weekday. 4:30 to 7:00 a.m. right here. >> okay. like so many companies of any size. apple is changes the return to work rules. pushing back the date again. ceo e-mailing employees the new plan calls for workers to return to the office in february. they'll be asked to come in one or two days a week. and march they will scape scale it up. coming in on monday, tuesday and thursday. >> pfizer waits for approval of the treatment pill the u.s. is wasting no time placing a large order for it. the u.s. plans on buying 10 million doses of the pill. if the

. >> reporter: biden writing in a better to the ftc, in the last month, the price of unfinished gasoline is down more than 5%, while gas prices are up 3% at the time. exxon and chevron were on-track to double their net income, compared to 2019. and saying, i do not accept hard-working americans paying more for gas because of anti-competitor of illegal conduct. the industry pushing back, calling biden's move a distraction and saying postpandemic demand for gas is outpacing supply. the average price nationwide is $3.41 a gallon. that's up $1.29 from last year. in recent weeks, the white house has been pushed on how it plans to address soaring fuel costs. few specifics have been offered. >> we're looking at every tool in our arsenal. >> reporter: republicans have slammed green initiatives, saying the white house is waging war on emergency. the white house toured an electric vehicle factory in detroit, touting his infrastructure bill. >> we're going to kick-start batteries, materials and recycling. new loans and new tax credits. creating new purchase incentives for consumers to buy american-

take us onto the ftc, if you would. —— the financial times, speaking of the work— —— the financial timesaking of the work of the boosterjobs, this plan is _ the work of the boosterjobs, this plan is a — the work of the boosterjobs, this plan is a try— the work of the boosterjobs, this plan is a try to save christmas as much _ plan is a try to save christmas as much is — plan is a try to save christmas as much is anything else. i was struck by the _ much is anything else. i was struck by the difference in tone from last year in _ by the difference in tone from last year in comparison with the delta variant _ year in comparison with the delta variant as — year in comparison with the delta variant. as well as the fact that we have _ variant. as well as the fact that we have a _ variant. as well as the fact that we have a vaccine now, which is the biggest — have a vaccine now, which is the biggest difference, and that is driving — biggest difference, and that is driving the uk and scottish, and welsh _ driving the uk and scottish, and welsh and northern irish responses to this _ welsh and no

tremendous pressure ever since the 2016 cambridge analytical scandal, the 2019 fine of $25 billion from the ftc for privacy violations that allege facebook misrepresented user ability to control the use of facial recognition technology, and this year's $650 million settlement for facebook users in illinois for using photo phase tagging without permission point >> these things have been going on for quite a while, and it's clear at this point that facebook has decided it is no longer worth fighting without having a legal framework that tells them it's okay to run a. >> reporter: it will take time for law to catch up with technology. it sounds like facebook will leave the door open for future use point >> there are benefits to this type of stuff, but the problem is there are a lot of privacy concerns as well. facebook very clearly has not solved those issues which is why it is backing away point >> not going to miss it. >> reporter: a lecture at san jose state says good riddance to facial recognition. he is weaning himself off of facebook. >> the less information facebook it's, and sort of wants