Judge Rejects Trump Ally's Bid To Open Fed Rate Meeting

A U.S. judge on Monday rejected an investment fund's attempt to force the Federal Reserve to open this week’s interest rate meeting to the public, according to CNBC. The court ruled that the Federal Open Market Committee is not subject to the Sunshine Act’s open meeting requirements, rejecting Azoria Capital’s claim. The decision upheld the Fed’s long-standing practice of holding interest rate discussions behind closed doors. Judge Beryl Howell questioned whether the lawsuit was a tactic to generate publicity for Azoria’s new investment fund and warned that such strategies are unwelcome in court. CEO James Fishback, an ally of Donald Trump, has criticized Fed Chair Jerome Powell for keeping rates high and claims the Fed is undermining Trump’s economic agenda.