[Meanwhile: The Late Show with Stephen Colbert won the Emmy last Sunday for Outstanding Talk Series. Scroll to the bottom of this column to read Colbert's speech. Photo via X-Twitter.]
Fed Cuts Interest Rate by 0.25% -- One thing you can be reasonably sure of is that Federal Reserve Chairman Jerome Powell did not feel “bullied” by President Trump’s “jawboning” (old-school term for how US presidents used to try and get their way with the independent bank). After all, Powell, who was appointed Fed chairman during Trump’s first term, knows he will be replaced, anyway, when his term expires next May.
And yet, this was Vanity Fair’s headline following the Fed’s quarter-point benchmark short-term rate reduction Wednesday afternoon, its first cut in nine months:
“Donald Trump Finally Bullies Jerome Powell Into Cutting Interest Rates.”
Anyone who has followed the severe drops in new jobs created, as measured monthly by the Trump-beleaguered Bureau of Labor Statistics, understands it is the softening US job market that persuaded 11 of the 12 members of the Federal Open Market Committee to approve the cut.
Or as a much more business-savvy publication puts it, the FOMC has determined “that the recent labor-market softness outweighed setbacks in inflation.” That publication, The Wall Street Journal, notes that the 12th FOMC member, whom it describes as “former” senior White House advisor Stephen Miran, favored a half-point cut in the benchmark interest rate.
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Patel v. Senate Democrats – FBI Director Kash Patel apparently took notes from Health and Human Services Secretary Robert F. Kennedy, Jr., before his Senate hearing Tuesday during which he pushed back over Democrats’ pointed questions over whether Patel fired career agency officials out of political retribution.
Patel’s hearing clocked in on C-Span at four hours, 40 minutes, more than 90 minutes longer than RFK Jr.’s testimony, amidst anonymously sourced news stories that raised questions about his leadership over mistakes in the Charlie Kirk shooting (per CQ Roll Call). Patel had announced after last Wednesday’s shooting that the FBI had its suspect, then did not – which drew criticism from some Republicans, though not during the Senate hearing.
Patel’s FBI took credit for eventually capturing suspect Tyler Robinson, who was turned in by his parents.
The FBI director’s testimony Tuesday was “a performance,” Sen. Chris Coons (D-DE) said, The Hill reports. “He was testifying really for an audience of one: President Trump.”
Coons later quipped that if Trump whisperer Laura Loomer “takes a disliking to Kash Patel, he may be gone next week.”
Day Two for Patel is Wednesday, when he testifies beginning at 10 a.m. before the House Judiciary Committee.
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Suspect Charged – The Utah County attorney’s office Tuesday charged Tyler Robinson, the 22-year-old suspect in the September 10 assassination of right-wing firebrand Charlie Kirk with seven offenses, The Salt Lake Tribune reports:
•Aggravated murder.
•Discharge of a firearm.
•Two counts of obstruction of justice.
•Two counts of tampering with a witness.
•A misdemeanor count of violence committed in the presence of a child.
Authorities say Robinson told his roommate and romantic partner, who is transitioning to a woman; “I had enough of his hatred.” His partner is reportedly cooperating with authorities.
Utah County Attorney Jeff Gray says he is seeking the death penalty for Robinson, according to Deseret News. President Trump has said the suspect may or may not face federal charges in the murder. –TL
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TUESDAY 9/16/25
Tuesday Moves – President Trump and First Lady Melania Trump were on Air Force One heading toward the United KingdomTuesday morning (The Wall Street Journal). It will mark an historic second meeting by the president with King Charles. Donald J. and Melania Trump stay through Thursday evening. …
Trump economic advisor Stephan Miran is off to the Federal Open Market Committee, which will set interest rates on Wednesday. The Senate confirmed Miran to the Federal Reserve’s board of governors by 48-47 vote. He will vote on interest rates along with Biden nominee Lisa Cook, whom Trump had tried to remove ahead of the FOMC meeting. Late Monday, federal judges denied the Trump administration’s last-minute effort to remove Cook before the meeting, over unproven allegations of mortgage fraud. (The New York Times.)
Sen. Lisa Murkowski (R-AK) cast the lone vote against Miran for “appearances” of a Fed governor who will remain a White House economic advisor.
Senate Democrats were unified in voting against Miran.
“Donald Trump is full speed ahead in trying to take over the Fed,” Sen. Elizabeth Warren (D-MA) said in an earlier interview.
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Gaza City Takeover Underway – At least 41 people in Gaza City have been killed since midnight Tuesday, as the main phase of the Israeli military’s operations there began, according to U.S. News & World Report.
“Gaza is burning,” said Israel Katz, defense minister for Israel. “We will not relent and we will not go back until completion of the mission.”
Meanwhile, Secretary of State Marco Rubio has left Israel after failed peace talks for a brief stop in Doha to meet with Emir of Qatar Tamim bin Hamad Al Thani. Qatar is “still incensed” over Israel’s strike last week of Hamas leaders in Doha. –TL
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MONDAY 9/15/25
Flurry of Business News Monday – From CNN: The Trump administration has reached a deal with China to keep TikTok up and tiktokking in the United States, Treasury Secretary Scott Bessent says. President Trump is to meet with Chinese leader Xi Jingping Friday.
From The Wall Street Journal: Tesla stock jumped 6.05% in early trading Monday after a regulatory disclosure showing the EV-maker’s CEO purchased more than 2.5 million shares of its stock on Friday. This comes as the Tesla board is preparing to vote on a lucrative package that could pay Musk up to $1 trillion in stock in the next decade.
Speaking of regulatory disclosure … Trump wants to end a requirement for publicly traded companies to file quarterly earnings reports and allow them to file every six months, instead.
“This will save money, and allow managers to focus on properly running their companies,” Trump wrote on his Truth Social Monday. Publicly traded companies in the US have been required to file quarterlies for more than 50 years, according to the WSJ.
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Russian Drones Over Romania – Romanian aircraft did not shoot down Russian drones that entered its airspace Saturday evening local time because of the civilian population below, according to authorities. The drones eventually turned back to bomb Ukraine, Romanian Defense Minister Ionut Mosteanu told Antenna 3 CNN.
Romania has been a NATO member since 2004.
Meanwhile, Poland … NATO member since 1999, shot down just four of 19 drones that crossed its border September 10. One of the drones fell nearly 400 kilometers (250 miles) west of the Ukrainian border.
“Opinion is shifting toward this idea,” on NATO closing the skies of Western Ukraine, Polish Foreign Minister Radosław Sikorski told The Kyiv Independent in an interview on the sidelines of the Yalta European Strategy (YES) conference in Kyiv, September 12-13.
“I think Russia lost this confrontation,” Sikorski said.
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Motive in Kirk Shooting Remains Unknown – Tyler Robinson, the 22-year-old suspect in the September 10 shooting of right-wing influencer and Turning Point USA CEO Charlie Kirk at Utah Valley University is not cooperating with authorities, according to news reports. His apparent roommate is.
“We do know that the roommate that we had originally talked about, we can confirm that the roommate is a boyfriend who is transitioning from male to female,” Utah Gov. Spencer Cox (R) said Sunday (per The Hill). “So we know that piece. I will say that the person has been very cooperative with authorities.”
Robinson is said to come from a politically conservative family.
Vigil in Washington … The Trump administration held a vigil for Kirk Sunday at the Kennedy Center, NPR reports.
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Gov Endorses Mamdani – New York’s Democratic governor, Kathy Hochul, has endorsed her party’s nominee for mayor, self-described democratic socialist Zohran Mamdani for the November general election, in a New York Times op-ed published late Sunday. The moderate Democrat’s endorsement indicates a place for progressives in her party as part of its fight against MAGA Republicanism and puts a fork in the political career of former Gov. Andrew Cuomo, who recently announced he would run for NYC mayor as an independent after losing the June primary to Mamdani.
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Late Show Wins Emmy – And there’s this from the eponymous host of CBS’ The Late Show with Stephen Colbert, which took the Emmy Sunday night (also broadcast on CBS) for Outstanding Talk Series. Colbert’s late-night talk show was cancelled in July ostensibly for high costs and falling ratings, though many blame machinations behind the Skydance's acquisition of CBS owner Paramount, since approved by Trump Federal Communications Commission.
“In September of 2015, (film director) Spike Jonze stopped by my office and said, ‘Hey, what do you want this show to be about?’ I said, ‘Ah, Spike, I don’t know how you could do it, but it’s kind of like to do a late-night comedy show that was about love. And I don’t know if I ever figured that out, but at a certain point, and you can guess what that point was, I realized that in some ways, we’re doing a late-night comedy show about loss. … That’s related to love, because sometimes you only truly know how much you love something when you get a sense you might be losing it. Ten years later, in September of 2025 my friends, I have never loved my country more desperately.”
Colbert concluded saying “God bless America,” then quoted Prince’s Let’s Go Crazy, adding; “Stay strong, be brave, and if the elevator tries to bring you down, go crazy and punch a higher floor.” – Compiled and edited by Todd Lassa