we have new details tonight out of the FTC Hearing in Portland weighing a challenge to a highly controversial merger between grocery Giants Kroger and Albertson Kroger CEO Rodney McMullan took to the stand yesterday saying in his testimony that quote the day we merge is the day we will begin lowering prices McMullen says the merger would allow the new company to lower prices and compete with other giants like Walmart Costco and Amazon the Federal Trade Commission is trying to temporarily block the $24 billion merger claiming it would eliminate competition lead to higher food prices and overall harm both workers and consumers when asked why food prices are up 25% since 2019 McMullan blamed Rising supp supplier costs fuel prices and credit card fees on the other hand he did make a big pledge to cut grocery prices by $1 billion on day one if the merger is approved but the FTC was quick to point out that that promise isn't legally binding his sort of response to that was they've made this public announcement they've told it to investors and so um you know they feel that like by making it public they're going to take a hit to the reputation if they don't actually follow through with this promise so that they're very um serious about these uh Investments that they're going to make in in improving stores and cutting prices and with workers last week during that same FTC hearing another Kroger executive admitted to gouging prices on select items above inflation levels saying the company had raised the cost of milk and eggs beyond what inflation would require for the chain to turn a profit the court hearing is expected to last well into next week