CNBC Excerpts: FTC Chair Andrew Ferguson Speaks with CNBC's Sara Eisen on 'Squawk on the Street' Today
WHEN: Today, Thursday, April 24, 2025
WHERE: CNBC's "Squawk on the Street"
Following are excerpts from the unofficial transcript of a CNBC interview with FTC Chair Andrew Ferguson on CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET) today, Thursday, April 24. Following is a link to video on CNBC.com: https://www.cnbc.com/video/2025/04/24/ftc-chair-andrew-ferguson-iam-in-favor-of-deal-flow-iam-also-in-favor-of-antitrust-enforcement.html.
All references must be sourced to CNBC.
FERGUSON ON ENFORCEMENT
ANDREW FERGUSON: I am different, look, I want vigorous antitrust enforcement. Competition is what makes America great. It's how we innovate. It's how we grow. Monopoly is not good for innovation, how we protect against monopolies, antitrust. But I want I want clarity and I want certainty for businesses. I want businesses to know that when you send a deal to the FTC, we're going to look at it quickly in the timeline that Congress gave us. If we think it's illegal and we can win in court, we're going to go to court. And if we don't, we're getting out of the way as quickly as possible.
FERGUSON ON DEREGULATION
FERGUSON: We're going to have lots of deregulation. President issued an EO directing me and the FTC to lead the charge on getting rid of anti-competitive regulations. We've asked the public to tell us what the anti-competitive regulations are. We're going to be asking agency heads to give us all of their regulations that they think are anti-competitive. And then we're sending a list to the White House recommending deletion of anti-competitive regulations. So we're all about deregulation.
FERGUSON ON UBER CASE
FERGUSON: Congress has passed laws protecting all of us when we are engaging with companies that have online subscriptions. Both when we sign up and when we try to cancel. And if companies are breaking that law, it's called ROSCA, they're going to, we're going to take them to court. And that's what the Uber case is about. This isn't. You know, like a campaign or anything. If we think there are clear violations of this law that's designed to protect consumers when they are subscribers, which all of us are, we're ready to go to court.
FERGUSON ON META CASE
FERGUSON: When Facebook acquired Instagram and WhatsApp, it did so to suppress competition. And one of the markets that's most important to American consumers, all of us saw in 2020 how much power these platforms have, not just over our economic lives, over our social lives, our political discourse, you know, our elections. All of us saw how powerful these companies are. That's what this case is about. It's about protecting Americans from the incredible market power of these companies and making sure that companies are competing with each other on the merits so we get innovation and growth.
FERGUSON ON META SETTLEMENT
FERGUSON: It's a big case. There's always settlement negotiations. There were settlement negotiations. But I think it's very important in order to protect American consumers that we see this case through. And that's why we're in the second week of trial.
FERGUSON: Settlement negotiations are always complicated, but my main goal was protecting American consumers. If that could be done with a settlement, that would be great. And if it couldn't, we go to trial and we're at trial and I think that answers the question.
FERGUSON ON DOGE
FERGUSON: People voted for major reform. The president's giving to them. There are always ways that government can be more efficient, and that includes the FTC and our relationship with DOGE has been great. They've helped us become more efficient. We are becoming more efficient. I am thrilled that DOGE has been involved.
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