Trump allies sue Powell, demanding FOMC hold open meetings

ChainCatcher news, according to a lawsuit filed by American investor James Fishback's Azoria Capital, an investment firm led by supporters of Trump is suing Federal Reserve Chairman Powell and other Fed officials, demanding that the Fed hold its monetary policy meetings in public. The lawsuit claims that the FOMC's practice of holding closed-door meetings for decades violates the Government in the Sunshine Act.

The fund has filed a request in a federal court in Washington for the Fed to 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 maintains high interest rates, undermining President Trump's economic agenda and harming American citizens and the U.S. economy."