Trump Ally Sues Powell, Calls for FOMC Meeting Transparency

BlockBeats News, July 25th: A investment firm led by supporters of U.S. President Trump has sued Federal Reserve Chairman Powell and other Fed officials, demanding that the Fed hold its monetary policy meeting openly. The U.S. investor James Fishback's company, Azoria Capital, said in a lawsuit filed on Thursday that the FOMC's decades-old practice of holding closed-door meetings violated government transparency laws.

The fund filed with a federal court in Washington, demanding that the Fed hold an open meeting on July 29th to 30th. 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, damaging U.S. citizens and the U.S. economy." (FX678)