According to reports, a lawsuit demanding that the Fed interest rate decision-making meetings be open to the public has been dismissed by a U.S. district court. The judge ruled that the Federal Open Market Committee ( FOMC ) is not bound by the federal Sunshine Act, thus it can continue the traditional practice of holding closed meetings.

This ruling upholds the FOMC's 50-year tradition of closed-door decision-making. Judge Howell questioned the true motives behind the lawsuit filed by the plaintiff Azoria Capital before making his decision, suggesting it might be an attempt to attract public attention to its new investment fund. In response, Azoria Capital's representative lawyer denied this.

It is worth noting that Azoria Capital is led by James Fishback. This ruling has sparked discussions about the transparency of central bank decision-making. Supporters argue that open meetings help increase decision-making transparency, while opponents worry it may affect the independence and effectiveness of decisions.

This case also highlights the balance issue between financial regulation and the public's right to know. Although the court supported the existing practices of the FOMC, this controversy may encourage further reflection on how to enhance the transparency and public participation in financial policy-making while protecting the independence of decision-making.