Reported about 16 hours ago
A federal judge in Washington, D.C., has denied a request from Azoria Capital, a money management firm, to force the Federal Reserve's Federal Open Market Committee (FOMC) to conduct its rate deliberations in public. The lawsuit claimed that the Fed's closed meetings violated the Government in the Sunshine Act of 1976. However, the judge ruled that the Sunshine Act does not apply to the FOMC as it is not classified as an agency. Azoria Capital stated its intention to continue pursuing transparency for the Federal Reserve despite the setback.
Source: YAHOO