A court dismissed another challenge to the Fed.

A three-member federal appeals court panel, affirming an Oct. 26, 1983, decision by U.S. District Judge John H. Pratt, said the Committee for Monetary Reform, a Newport Beach corporation, and nearly 900 other individuals, trade associations and companies involved in construction do not have the right to challenge the legality of the Federal Reserve Board’s control over the money supply. The committee and the others contended that Congress had not given the Fed clear enough guidelines for controlling the supply of money and credit in the economy.