Consumer Product Safety Commission (CPSC) | Investor's Almanac

The Consumer Product Safety Commission (CPSC) is a US federal agency responsible for protecting the public from unreasonable risks of injury or death associated with the use of consumer products. Established in 1972, the CPSC has jurisdiction over approximately 15,000 types of consumer products, including toys, furniture, and household appliances. With a budget of over $130 million and a staff of around 500 employees, the CPSC works to identify and mitigate potential hazards through research, testing, and enforcement of safety standards. The agency has been instrumental in reducing the number of consumer product-related injuries and deaths, with a notable 30% decline in fatalities between 2005 and 2019. However, the CPSC faces ongoing challenges, including the rise of e-commerce and the increasing complexity of global supply chains. As the CPSC continues to evolve and address emerging safety concerns, its role in protecting American consumers will remain critical, with a growing focus on issues like product recalls, artificial intelligence, and cybersecurity.