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They're comparing actual exposure to estimated risk at that exposure. So no, we're not doing nearly enough to limit exposure, which is the whole point.
Where? They refer to a 2003 study https://pubmed.ncbi.nlm.nih.gov/14600094/ with the conclusion:
Apparently they were unable to find further studies to support their claim where they state as FACT that causes myeloid!!
This is not true. Except counting naturally occurring formaldehyde, which indeed is everywhere, but not enough to make you sick, because we evolved in it!
This may be somewhat true, which is why you must always let the air out of your home twice a day. But that's not because of formaldehyde alone. Also CO2 can build up, and radon can sieve in from below too. That formaldehyde is partially naturally occurring, and in homes come mostly from wood. If you have a lot of chipped wood, it has more because the glue used to make chipped wood contain it too. But this is regulated so products meet safety standards.
We had the debate here in Denmark in the 70's, claiming this 40 year old problem is suddenly an emergency that kill more people than any other pollutant is dishonest and sensationalist.
https://en.wikipedia.org/wiki/Formaldehyde
Conveniently this scare piece does not mention at all, that most formaldehyde is naturally occurring!!!
Also from the Wiki:
Which the article also completely omit to mention, it is more misleading than informative.
Again: https://www.epa.gov/formaldehyde/laws-and-regulations-concerning-formaldehyde
Notice that wood is included in those regulations.
Edit PS:
OK apparently some people think they know better, than someone who has followed this issue for 40 years.
Despite I'm pointing out decidedly dishonest reporting, including misrepresenting results of studies!!
However I slipped up a bit myself, and have made a couple edits for better accuracy.
We can't take the risk to zero — but we can reduce it pretty sharply. And that would be a big deal.
Absolutely, there may be areas where better regulation is required, but there is no reason to make a misleading scare piece full of lies to bring that point.
It looks like it comes specifically from composite wood and the glues used in making those composites, not solid wood. That seems to be supported by some quick internet searching. Regular wood appears to release formaldehyde at high temperatures.
It is true that chipboard release more formaldehyde because of the glue, which is the reason it's regulated.