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COMMITTEE FOR MONETARY REFORM v. BD. OF GOV. OF F.R.S.

No. 84-5067.

766 F.2d 538 (1985)

COMMITTEE FOR MONETARY REFORM With Various Other Plaintiffs, Appellants, v. BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, et al.

United States Court of Appeals, District of Columbia Circuit.

Decided June 28, 1985.

Attorney(s) appearing for the Case

Lawrence Velvel, Washington, D.C., for appellants. John E. McDermott, was on brief.

Sandra M. Schraibman, Atty., Dept. of Justice, Washington, D.C., with whom Richard K. Willard, Acting Asst. Atty. Gen. and Anthony J. Steinmeyer, Atty., Dept. of Justice, Washington, D.C., were on brief, for appellees.

Grasty Crews, II, Washington, D.C., was on brief for the Honorable John Melcher, Member, U.S. Senate, amicus curiae, urging affirmance.

Before ROBINSON, Chief Judge, and EDWARDS and GINSBURG, Circuit Judges.

Opinion for the Court filed by Circuit Judge HARRY T. EDWARDS.

HARRY T. EDWARDS, Circuit Judge.

The question presented in this case is whether private businesses and individuals who allegedly have suffered financial damage as a result of the money supply policies of the Federal Reserve System ("System") have standing to raise constitutional challenges to the exercise of power by the System and to the composition of one of its elements, the Federal Open Market...

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