Trump allies sue Powell, demand FOMC open meeting

BlockBeats News: On July 25th, an investment firm led by supporters of US President Trump sued Federal Reserve Chairman Powell and other Fed officials, demanding that the Fed hold a monetary policy meeting in a public manner. In a lawsuit filed on Thursday by American investor James Fishback's Azoria Capital, the FOMC's decades long practice of holding closed door meetings violated government transparency laws. The fund has filed a request with a federal court in Washington for the Federal Reserve to hold a public meeting on July 29-30. The company stated in the lawsuit that 'Azoria is deeply concerned that under Powell's leadership, the FOMC has maintained high interest rates, undermined President Trump and his economic agenda, and harmed American citizens and the US economy.'. (Golden Ten)