I think we can make it…
What Fresh Hell Is This?
Thursday
As expected the Federal Reserve did raise interest rates by 1/4 percentage point to 3-3/4 to 4 percent.
What I hadn’t expected was for the vote to be unanimous.
The Federal Open Market Committee approved the following statement for release by a 12 – 0 vote:
The Committee decided to raise the target range for the federal funds rate by 1/4 percentage point to 3-3/4 to 4 percent, in support of the Federal Reserve’s dual mandate. The Committee is continuing its policy of maintaining ample reserves in the banking system.
Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little.
Inflation remains elevated. Today’s policy action will support a timelier return to the Committee’s 2 percent goal. The Committee will deliver price stability.
Federal Reserve. 09/16/2026.
Puddle held the ketchup but did, once again, threaten to punish Americans for not getting his way.
There is so much to unpack there.
First, we wouldn’t make money by not trading with other countries. We’d just have less stuff to purchase. So, in economic terms, that means we might actually have to pay more for items. No savings expected.
Second, trade deficits are not losses they simply mean we bought more goods from abroad than they bought from us.
Third, in the simplest of terms, though it is more complicated, lowering interest rates is meant to encourage consumers and businesses to borrow and spend more, helping spur economic growth.
Fourth, currently, we do not have a spending problem. So you raise rates in the hopes of slowing spending. Slowing spending lessens demand, and, in theory, prices should fall.
Fifth, as long as tariffs are pushing up the cost of imported goods, raising interest rates can slow spending, but it can’t remove those tariff-related costs.
Sixth, Puddle was asked if he had lost confidence in Kevin Warsh following his vote to hike interest rates. He said, nah, Warsh faced a very hostile board and that when he talked to him, he told him he could vote with the board since it wouldn’t matter.
Reporter: Kevin Warsh, when did you talk to him? Did you try to convince him not to [Inaudible]
Puddle: No, I didn’t convince him. No, I said, do what you want. They said do what you want. ‘Cause it doesn’t matter ’cause he doesn’t have the vote. No matter how good a job, he’s a good man, [Inaudible] But no matter how good a job, he’s got a hostile board.
Reporter: He said that it was the right decision and it was the responsible decision to–to– for these interest rate hikes. What do say to that and [inaudible].
Puddle: Well, I don’t know what he was referring to, but I would tell you interest rates are too high. [Inaudible]
Reporter: Do you think he made that decision based on what you told him?
Puddle: No, I don’t think so. I think — I want him to be independent. But my opinion, I’m very good at this stuff. Interest rates are too high. We should have the lowest interest rate anywhere in the world because we’re the best around.
RollCall.com. 09/16/2026.
He doesn't know, because the moron thinks if we stop trading with other countries that's billions of dollars in our pockets.
— Ann-Tiff-A (@NewsiesNeighbor) September 16, 2026
His understanding of the economy wouldn't even fit a thimble.
As the Puddle Turns…
He was asked yesterday why having his name on the Kennedy Center was so important to him.
Reporter: Mr. President, why is it so important for you to have your name on the Kennedy Center Me- — Memorial [Inaudible]
Puddle: Well, it’s a very easy question to answer because it’s a mess. It’s lost, the Kennedy Center for many years has lost tens of millions of dollars, even hundreds of millions of dollars. A loser financially. And many of the places like that, you know, like Carnegie Hall and the various places throughout the country, they lose a lot of money.
Puddle: For me to go and fix it, I’m the one capable of fixing it and then have to subsidize it for years to come because you will lose with the Kennedy Center. They were losing hundreds of millions of dollars and sometimes hundreds of millions — this is before I got involved. So for the Trump administration, for me to get involved and to take that on long term and to carry it or to raise money to carry it. I think that the Trump administration should certainly have recognition.
Puddle: Because frankly, if we don’t do that, it’s going to close. It’ll end up being ripped down. It’s in very, very bad shape, very dangerous shape. You see steel falling down. You see plaster falling off ceilings. You see a lot of dangers. It’s been very badly maintained for 25 years.
Reporter: [Inaudible] go in the building?
Puddle: I’d like to be able to save it, but it’s gonna take a lot of subsidy into the future. And for us as an administration to want to do that, I think the admin- — the Trump administration should be recognized.
RollCall.com. 09/16/2026.
Puddle was photographed with what appeared to be a poster board that read, “Kennedy Center Demolished.”
Trump looks at a placard that reads "Kennedy Center DEMOLITION" as he lands at Joint Base Andrews tonight
— Aaron Rupar (@atrupar) September 17, 2026
(Brendan Smialowski/AFP via Getty) pic.twitter.com/w1A9AxudDK
I can’t share the Getty images. They are outside most people’s image budgets.
Reporting has it that the poster board was seen being taken off the plane by Bill Pulte. Some of you might remember that it was Pulte who floated the terrible idea of creating the 50-year mortgage.
*Flashback*
*End Flashback*
But no need to worry after all…
