Investment firm Azoria Capital has filed a lawsuit against Federal Reserve Chair Jerome Powell and other monetary policymakers to block next week’s closed-door meeting.
The firm claims that the interest rate-setting Federal Open Market Committee (FOMC) meetings, which are closed to the public, violate a 49-year-old federal transparency law.
“We’re seeking a temporary restraining order to block next week’s Federal Reserve meeting from happening behind closed doors, James Fishback, CEO of Azoria Capital and former adviser to the Department of Government Efficiency (DOGE), said on X.
The Government in Sunshine Act was established in 1976, following the Watergate scandal, to promote transparency in federal decision-making. While the law contains several exemptions, Azoria says the central bank’s “decades-long policy of blanket secrecy is unlawful.”…