Trump Ally Sues Powell, Demands FOMC Hold Public Meetings

According to ChainCatcher, a lawsuit filed by Azoria Capital, the company of U.S. investor James Fishback, states that an investment firm led by Trump supporters is suing Federal Reserve Chair Jerome Powell and other Fed officials, demanding that the Fed hold its monetary policy meetings in a public manner. The lawsuit claims that the FOMC’s decades-long practice of holding closed-door meetings violates government transparency laws.

The fund has filed a request with a federal court in Washington, seeking to have the Fed hold a public meeting from July 29 to 30. The company stated in the lawsuit: “Azoria is deeply concerned that under Powell’s leadership, the FOMC has maintained high interest rates, undermining President Trump and his economic agenda, and harming American citizens and the U.S. economy.”