President Biden on Monday nominated Lina Khan to the Federal Trade Commission, installing a vocal critic of Big Tech into a key oversight role of the industry.
If her nomination is approved by the Senate, Ms. Khan, 32, would fill one of two empty seats earmarked for Democrats at the F.T.C.
Ms. Khan became recognized for her ideas on antitrust with a Yale Law Journal paper in 2017 called “Amazon’s Antitrust Paradox” that accused Amazon of abusing its monopoly power and put a critical focus on decades-old legal theories that relied heavily on price increases as the underlying measure of antitrust violations.
She served as a senior adviser to Rohit Chopra when he was F.T.C. commissioner. Most recently, she was a leading counsel member to a 16-month-long investigation of online platforms and competition by the House antitrust subcommittee. As a result, Democratic leaders on the subcommittee called for the breakup of Big Tech and legislation to strengthen enforcement of competition violations across the economy.
“As consumers, as users, we love these tech companies,” Ms. Khan said in an interview with The New York Times in 2018. “But as citizens, as workers, and as entrepreneurs, we recognize that their power is troubling. We need a new framework, a new vocabulary for how to assess and address their dominance.”
Ms. Khan is the second prominent advocate of breaking up the large tech companies placed by the Biden administration in top antitrust roles. Also this month, Mr. Biden picked Tim Wu, a prominent critic of Google, Facebook and Amazon, as special assistant to the president on competition policy.
Jerome H. Powell, the head of the Federal Reserve, will tell lawmakers on Tuesday that the economy is healing, saying that while many workers and businesses continue to suffer, the aggressive response from the central bank, Congress and the White House helped to avoid the most devastating economic scenarios.
“While the economic fallout has been real and widespread, the worst was avoided by swift and vigorous action,” Mr. Powell will tell the House Financial Services committee, according to prepared remarks.
He will point out that the economy has recently improved, including the labor market, which has begun adding back jobs after a winter lull.
“However, the sectors of the economy most adversely affected by the resurgence of the virus, and by greater social distancing, remain weak, and the unemployment rate — still elevated at 6.2 percent — underestimates the shortfall,” Mr. Powell is set to say.
The Fed chair will add that the central bank, which currently has rates at near-zero and is buying bonds to keep credit flowing and to bolster the economy, “will not lose sight of the millions of Americans who are still hurting.”
Mr. Powell will say the Fed’s many market-facing programs in 2020, which supported credit to corporations, midsize businesses and municipalities, helped to “keep organizations from shuttering and put employers in both a better position to keep workers on and to hire them back as the recovery continues.”
And he will underline that the programs, in most cases, have either shut down or will soon end. Mr. Powell consistently has said that the lending efforts, supported by the Treasury, were emergency tools that the Fed would stop using once conditions were stable.
Dispo, which launched in 2019, is a photo-based social platform similar to Instagram that mimics the experience of using a disposable camera. Photos taken through the Dispo app take 24 hours to “develop” and appear on a user’s feed.
In October, Dispo raised $4 million in a funding round led by Seven Seven Six, the firm of Alexis Ohanian, the Reddit co-founder. In February, the company garnered an additional $20 million in a financing led by Spark Capital; the funding valued…
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