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  • 2 days ago
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.

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00:00It's Benzinga bringing Wall Street to Main Street.
00:02U.S. judge on Monday rejected an investment fund's attempt to force the Federal Reserve
00:06to open this week's interest rate meeting to the public, according to CNBC.
00:10Court ruled that the Federal Open Market Committee is not subject to the Sunshine Act's
00:13open meeting requirements, rejecting Azoria Capital's claim.
00:17The decision upheld the Fed's longstanding practice of holding interest rate discussions
00:20behind closed doors.
00:22Judge Beryl Howell questioned whether the lawsuit was a tactic to generate publicity
00:26for Azoria's new investment fund and warned that such strategies are unwelcome in court.
00:30CEO James Fishback and ally Donald Trump has criticized Fed Chair Jerome Powell for keeping
00:35rates high and claims the Fed is undermining Trump's economic agenda.
00:39For all things money, visit Benzinga.com.

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