James Fishback, founder of Azoria and a rising figure in financial accountability, is taking on one of the most powerful—and most secretive—institutions in the United States: the Federal Reserve. In a detailed interview with Steve Bannon on Monday’s War Room, Fishback explained the legal action his team has launched to bring transparency to the Fed’s rate-setting process. The goal is to determine whether the central bank is using its unchecked power to undermine President Donald Trump’s economy and prevent Americans from buying homes, growing families, and building wealth.

QUICK WARROOM CLIP:

JAMES FISHBACK On Federal Reserve Legal Action: "The Board Of Governors Is Subject To Transparency Mandates.” @j_fishback pic.twitter.com/JWtwin33wt

— Bannon’s WarRoom (@Bannons_WarRoom) July 28, 2025

What Happened:
Fishback’s legal team appeared in federal court this week seeking a temporary restraining order (TRO) to stop the Federal Reserve’s upcoming closed-door meeting. While Judge Beryl Howell, an Obama appointee, didn’t grant the TRO, she also denied the Fed’s motion to dismiss the case—a crucial win for Fishback and his mission.

Even more explosive, during open court, the Federal Reserve’s attorneys made a major admission: the upcoming meeting is a joint session between two legal entities—the Federal Open Market Committee (FOMC) and the Board of Governors. That detail matters because the Board of Governors is subject to the Government in the Sunshine Act, a 1976 law requiring public access to specific government meetings.

Fishback explained, "We just could not believe that the Federal Reserve admitted in open court… that these meetings are being held as joint meetings, which means they are absolutely subject to the transparency disclosures of the Sunshine Act.”

Why This Matters:
The Federal Reserve sets interest rates that impact everything from mortgage loans to credit card payments. According to Fishback, keeping these meetings secret has allowed the Fed to make decisions that are hurting everyday Americans—especially under President Trump, who has delivered low inflation and solid trade wins.

Fishback argued that today’s high interest and mortgage rates—hovering at 25-year highs—are not just bad policy; they are part of a pattern of political sabotage:

"If you can’t buy a home because you can’t get a mortgage, you can’t start or grow your family… What the Federal Reserve is doing is literally anti-American.”

He believes the Fed is deliberately suppressing economic growth to damage Trump’s administration and block working-class prosperity. The Fed’s secrecy, he said, makes it impossible for citizens to hold the institution accountable.

Legal Ground:
The core of Fishback’s argument rests on the Government in the Sunshine Act, a bipartisan law passed in 1976 to ensure that federal agencies operate in full view of the public. Fishback’s team believes the Fed has violated this law for decades by holding closed-door meetings that should have been open to observation, especially when joint sessions involve entities that the Act covers.

"You cannot criticize the federal government if you don’t know what the federal government is actually up to,” Fishback said.

Although the court didn’t block the Fed’s immediate meeting, the legal case is moving forward. Fishback’s team is reviewing options and preparing to push deeper, especially now that the Fed’s own lawyers confirmed the structure of the joint meetings.

This battle isn’t just about policy—it’s about power. If successful, Fishback’s case could force open one of the most powerful corners of the U.S. government, bringing sunlight to the Fed’s secretive economic decisions.

In his final message on War Room, Fishback promised:

"No government institution is beyond reproach, and that’s what we stand for at Azoria.”

This isn’t over. Not by a long shot.

For more context, watch this whole segment:

FISHBACK On Fed Reserve Legal Action "The Board Of Governors Is Subject To Transparency Mandates”