EddieJayonCrypto
28 Jul 25
A U.S. District Court judge dismissed Azoria Capital's attempt to force the Federal Reserve to hold its interest rate-setting meeting publicly, ruling that the FOMC is not subject to the federal Sunshine Act. The judge questioned the lawsuit's motives, noting the unusual inclusion of CEO James Fishb...
A U.S. District Court judge rejected a legal attempt by Azoria Capital, an investment fund, to compel the Federal Reserve to open its upcoming interest rate-setting meeting to the public. The court ruled that the Federal Open Market Committee (FOMC) is not a government agency subject to the federal “Sunshine Act,” which mandates open meetings. Azoria had sought a temporary restraining order to force transparency for the sessions scheduled on Tuesday and Wednesday.
Judge Beryl Howell expressed skepticism about the lawsuit, questioning whether it was intended to generate publicity for Azoria’s newly launched investment fund. She noted the unusual inclusion in court filings of CEO James Fishback’s interview on Fox Business, which raised doubts about the lawsuit’s motivations. Azoria’s lawyer denied that publicity was the purpose, clarifying the inclusion aimed to show efforts made to notify the other side about the lawsuit.
Fishback, an ally of former President Donald Trump, has criticized Federal Reserve Chairman Jerome Powell for resisting interest rate cuts. The lawsuit alleges the Fed is maintaining high rates to undermine Trump’s economic agenda, harming American citizens and the economy. Following the ruling, Fishback stated that joint meetings between the FOMC and the Federal Reserve Board of Governors might be an effort to circumvent transparency laws and vowed to continue pursuing the case for greater public accountability.