He had reportedly raised the issue with President Clinton at their meeting in Washington last week.
But that stance has not prevented the Fed from raising interest rates at its subsequent meeting.
One shareholder raised a protest at the stockholders' meeting on Wednesday.
The pit's dilemma will be raised as an emergency item at this morning's meeting of Lothian's economic development committee.
It's a fascinating premise and one I will be sure to raise at the next residents' meeting.
Investors now expect the Fed to raise interest rates at least once more, to 5 percent, at its meeting next month.
On Tuesday, one of the residents who raised questions about the site at the trustees' meeting extended an olive branch.
He said the subject could be raised at the panel's next meeting, for which no date has been set.
"We did not get a single question raised at our annual meeting about proxies being late," he said.
An angry shareholder raised the question at Grace's annual meeting on May 10.