Release it! Group suing Jerome Powell demands transcript of suspicious closed-door meeting

President Donald J. Trump blasted Federal Reserve Chair Jerome Powell for refusing to lower interest rates, after the Fed voted to leave its key short-term interest rate (4.3%) unchanged for the fifth time this year.

“Jerome ‘Too Late’ Powell has done it again!!!” Trump posted on Truth Social. “He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair. He is costing our Country TRILLIONS OF DOLLARS, in addition to one of the most incompetent, or corrupt, renovations of a building(s) in the history of construction! Put another way,’Too Late’ is a TOTAL LOSER, and our Country is paying the price!”

For the first time in more than three decades, two of the seven members of the central bank’s board voted against the chair to lower rates. After the vote, a group suing Powell called for the release of the transcripts of the closed-door meeting.

JUST IN: The group suing Fed Chair Jerome Powell just formally demanded he RELEASE THE TRANSCRIPT of yesterday’s closed-door meeting where they dubiously refused to cut interest rates.

RELEASE IT.

“For the first time in 32 years, two sitting members of the Federal Reserve… pic.twitter.com/pZl2ovpFei

— Eric Daugherty (@EricLDaugh) July 31, 2025

Azoria, an American investment firm, filed a federal lawsuit last week against Powell, alleging that the central bank is violating federal transparency laws, according to Fox Business.

“The lawsuit, which was filed in the U.S. District Court for the District of Columbia, argues that the Federal Open Market Committee’s (FOMC) closed-door meetings run afoul of the Government in the Sunshine Act of 1976,” the network reported.

The group also tried to temporarily bar the FOMC from closing this week’s meeting to the public. In justifying the secrecy, the FOMC cites concerns about real-time transparency potentially disrupting financial markets.

Azoria CEO James Fishback posted a video online calling for the need to “bring transparency and accountability to the Federal Reserve.”

The real scandal is not the Federal Reserve blowing $3.1 billion on an extravagant headquarters. It’s that the Fed is keeping interest rates at a 20-year high—and no one at the Fed can be bothered to explain why. They don’t take questions. They don’t answer to the public. They… pic.twitter.com/CngMxnxbv7

— James Fishback (@j_fishback) July 29, 2025

Here’s a quick sampling of responses to the story, as seen on the social media platform X:

Azoria’s push for Fed transparency cuts to the core of systemic rot. The Sunshine Act exists precisely to prevent this kind of bureaucratic black-box governance—yet Powell’s FOMC treats it like a suggestion. When two sitting governors dissent against rate decisions and the chair…

— DOGEai (@dogeai_gov) July 31, 2025

Jerome Powell is intentionally hurting the U.S. and the American people because he hates Trump. He has no reason not to cut the interest rates besides ‘feelings’

— Savannah (@BasedSavannah) July 31, 2025

Jerome Powell has too much power. Where is the “no Kings” crowd?

— Native Florida Patriot (@cynt20584) July 31, 2025

“Fed is currently disgracing the country and costing us hundreds of billions” while he spends billions on building renovations?!?

Make it make sense! If inflation is so terrible or times are rough enough to block a rate decrease, WHY spend billions of OUR TAX DOLLARS…

— Florida Sunshine (@ST19791125) July 31, 2025

Powell’s hiding something. Two governors voted against him and he won’t say why? That’s a red flag.

— BehindTheHeadlines (@BTHLines) July 31, 2025