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Trump allies sue Powell for asking the FOMC to meet in public

Internet reported that an investment company led by supporters of U.S. President Trump sued Federal Reserve Chairman Powell and other Fed officials, demanding that the Fed hold a monetary policy meeting in a public manner. U.S. investor James Fishback's Azoria Capital said in a lawsuit filed Thursday that the FOMC's decades-long practice of meeting behind closed doors violated government transparency laws. The fund filed a request in a federal court in Washington to ask the Fed to meet in public on July 29 and 30. "Azoria is deeply concerned that under Powell, the FOMC maintains high interest rates, undermining President Trump and his economic agenda, and harming U.S. citizens and the U.S. economy," the company said in the lawsuit.

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