New lawsuit to make FOMC rate meetings public compounds Powell’s problems

Azoria Capital has launched a lawsuit against Jerome Powell and central bank officials, arguing that maintaining closed-door FOMC meetings breaches a 1976 federal law meant to ensure public accountability. CEO James Fishback links these operations to undermining economic stability under Trump’s administration.

Despite expectations for interest rates to remain unchanged during the upcoming July 29-30 meeting, some Fed governors indicate future cuts may be conceivable. Critics argue the Fed’s current stance is politically affected and challenges economic growth for American citizens.