Investment firm Azoria Capital, supported by former President Donald Trump, has initiated a lawsuit against Federal Reserve Chairman Jerome Powell and other officials. The legal action targets the Federal Open Market Committee’s practice of holding closed-door sessions for monetary policy decisions, alleging this lack of transparency violates public accountability.
The lawsuit specifically petitions a federal court to compel transparent proceedings for an imminent FOMC meeting scheduled later this week. Azoria Capital contends that the Fed’s current policymaking approach under Chairman Powell risks inflicting substantial harm on the U.S. economy and its citizens.
This challenge amplifies scrutiny over the Fed’s operating procedures, suggesting undisclosed discussions could undermine economic predictability. The firm maintains enhanced openness would foster greater institutional trust and mitigate potential adverse impacts stemming from opaque decision-making processes.