Sept. 12, 2025
Morning Run: Utah Manhunt Latest, Kirk Body Returned, Trump at Yankee Stadium, US Stock Record Highs, Inflation Rising, and Interest Rate Decision
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RSS Feed Robach and Holmes cover the latest news headlines and entertainment updates and give perspective on current events in their daily “Morning Run.”
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00:00:01
Speaker 1: Morning Run with Amy and TJ and iHeartRadio Podcast. Good morning everyone, and welcome to Morning Run. It is Friday, September twelfth.
00:00:11
Speaker 2: I'm Amy Roboch, I'm TJ Holmes. And the last thing we said to each other folks before we started recording, was, man, everything is heavy today, Like there's no light story. We like to have some good news. I'm sure we could dig and find something, but everything just seems there's been a weighty week.
00:00:27
Speaker 1: It's been a really heavy week, a tough week, and yeah, we always try to look for some fun, light, uplifting story in the news industry. We call them kickers, and they're like an essential part of any rundown in any newsroom. But we couldn't find any. You know what. The silver lining at least is for those of us here in New York, we have a gorgeous stretch of weather coming up, and so I can lean on the fact that it's going to be seventy nine and sunny today.
00:00:56
Speaker 2: Yeah, this is just a it's been a difficult one. It's been a difficult week, and certainly nine eleven, with those commemorations, it just things felt a little heavy. So we'll let you know what's going on out there? We saw, Robes. One of the things that happened, we knew probably this was eventually going to happen, that a hoax about a shooter on a campus leads to an actual shooting. We'll tell you what happened there. This is at the Naval Academy. But let's start really this morning, Robes, Let's just get right to it. Charlie Kirk. It is remarkable that as high profile and as many eyes were on this thing, on this case, and you know, the President of the United States, once this killer caught immediately, that we are now entering day three of this man hunt.
00:01:39
Speaker 1: I would not have predicted that, especially with his image being shown yesterday everywhere, and to wake up this morning, the first thing we did was look at our phones to see if he had been captured, but in fact, yes, we begin our run in Utah, where the manhunt for Charlie Kirk's killer does continue today.
00:01:57
Speaker 2: So far.
00:01:58
Speaker 1: Here's the thing, they don't even know, or at least they haven't said they know who they're actually hunting. Police are pleading with the public for help and identifying the person of interest, and overnight they have released even more video and more images.
00:02:13
Speaker 2: And the one video, the primary one, you can't see the person at least identifying markers on the person that well because it's from a little bit of a distance, but you can clearly see someone running across the roof. Then they kind of scuttle down the side a little bit and then jump fairly significant distance down to the ground, then walk across a lawn, and this video you can see the person wearing a backpack the entire time. There's another video out there that shows what appears to be the same person wearing the same stuff where it was walking down a neighborhood street not too long after the shooting. And you and I don't know how much this is being talked about, but that person clearly had a limp.
00:02:49
Speaker 1: Oh limping pretty badly, and obviously because when I saw him take that jump, that was no small feet, that was a big distance. So it wasn't surprising to me that he injured himself in that jump in that that's clearly what it appears to be.
00:03:01
Speaker 2: All right. And police also release new images that highlight the person's attire, that black T shirt with an American flag on the front, and also they were pointing out the person's converse all stars that they were wearing.
00:03:13
Speaker 1: Yeah, and we got a closer look at him, and it's really obvious that he is of college age. Yeah, I said to you, he's obviously young. You can just tell by the images. But there are Yeah, there's now a lot of incentive out there if anyone does recognize him to call it in because there is a one hundred thousand dollars reward for information leading to an arrest. And police say right now they have fielded seven thousand leads and they have to trace each and every one of those down. The Utah governor announced yesterday that the state will be seeking the death penalty in this case. So, look, they've talked the talk. They've said, hey, we're going to find you, We're going to bring you to justice, We're gonna impose the death penalty on you. The problem is they don't know who it is yet.
00:03:57
Speaker 2: And given the resources they have, I mean, we've seen some pretty improbable manhunts before, but just given the resources, everybody is looking for this guy. And three days in now we still don't know. And again, as of this recording, folks, he has not been captured. Meanwhile, Charlie Kirk's casket arrived back in his home state of Arizona yesterday, carried aboard Air Force two. Vice President Vance went to Utah yesterday. He along with uniformed service members, escorted Kirk's casket onto the plane and.
00:04:27
Speaker 1: Kirk's wife, Erica, was there with the Vanceys for that flight back to Phoenix yesterday. And as far as the funeral itself goes, here's the information that we have. While it's all coming from the President himself, Trump told reporters he believes the funeral will be next weekend. And the President did say he will attend Charlie Kirk's funeral.
00:04:47
Speaker 2: He used the word obligation. He says, I have an obligation to go. This is look, we can say what we want. We talk about this inner circle and loyalty. The President is returning that loyalty. I mean they do. I mean, this was a guy that close to them to see them react the way they have. And was it yesterday at the at the Pentagon, yes during the nine to eleven ceremonies, we looked up and saw the presidents at my goodness, he looked well.
00:05:11
Speaker 1: He did not look well, and he looked as tired. And as disturbed as I've ever seen him. Look, his face actually showed pain and fatigue. I think that's what it looked like to me. You could just see the toll this death, this assassination has taken on him.
00:05:30
Speaker 2: It really did seem that way. It genuinely did seem that way. All right, we're going to continue on the run. Now. The next leg brings us back here to New York, where the President did wrap up nine to eleven commemorations by attending the New York Yankees game against the Detroit Tigers. That meant, of course, a little bit of a security nightmare. They did give people heads up, the President's going to be here, it's going to be some extra security. See US Open last week, And it looks like folks they did heat the warnings and it wasn't that much of a mess.
00:05:58
Speaker 1: Yeah, perhaps when people did see what happened to the US Open, they made a decision not to make a repeat of that. So even the roads were blocked off, helicopters were circling above, and all those baseball fans were yes greeted by Secret Service, the NYPD and TSA officers when they entered Yankee Stadium. Yankee Stadium decided to open three hours ahead of the first pitch to accommodate all that extra security, So by all accounts, it went fairly smoothly, as smoothly as it can when the president is in attendance. And when Trump was shown on the big screen both during the national anthem and then again during the seventh inning stretch where they seen God Bless America, there was a mix of cheers and booze, and at one point a group of fans below where Donald Trump was so that box began a Donald Trump chat. I'm sure he a chat. Chant. I can't talk.
00:06:46
Speaker 2: I'm sure he appreciated that you have chat in the.
00:06:49
Speaker 1: And I meant to say chant. Okay, so I read what's in front of me, apparently, and I can't compute when I've made a typeo, I'm Ron Burgundy and go f yourself, san Diego. No.
00:07:00
Speaker 2: Before the first pitch last night, the Yankees held a moment of silence for Charlie Kirk. Trump is the third sitting president to attend a game at a Yankee stadium. I'm surprised it's only been three for some reason.
00:07:11
Speaker 1: And when you look and see who they are, It's actually interesting George W. Bush when he threw out that ceremonial first pitch after nine to eleven, and then the only other president was Warren Warren. Okay, Warren, thank you? Warren Harding? Can you tell that I need some sleep? It's Friday. It's been a long week, Warren Harding in nineteen twenty.
00:07:30
Speaker 2: Three, No way I would have come out with that one.
00:07:32
Speaker 1: The opening year of the original Yankee Stadium, and no other president has been the Yankee Stadium.
00:07:38
Speaker 2: That is an amazing trivia question. Who are the only three presidents to attend a Yankee game? Oh? My god?
00:07:45
Speaker 1: Because when I saw that, I had to add it because that actually shocked me. I would have thought significantly more presidents would have attended a Yankees game.
00:07:52
Speaker 2: Have you checked your sleep score? Did you get it? Yeah? It's bad? What is it?
00:07:55
Speaker 1: It's in the sixties.
00:07:56
Speaker 2: Wow? Okay, folks, so.
00:07:57
Speaker 1: Sixty three, I think.
00:07:58
Speaker 2: Okay, forgive her. Okay, she's going through some things right now.
00:08:02
Speaker 1: All right, bear with me as we continue our run where several HBCUs were on lockdown and canceled classes yesterday after receiving unspecified threats.
00:08:14
Speaker 2: We're talking about at least six schools and they kind of spread out all over. But these threats started coming in to some of these schools and then other schools just started closing just in case, even though they didn't get threats. They don't know where this has come from. The FBI did get involved. They said every single one of these was a hoax, but still they have to take them all seriously. The schools that we know were impacted Alabama State, Virginia State, Hampton, Southern Clark, Atlanta, and Bethune Cookman. And again Spelman was one that didn't get a threat, but they say, we're just closing just in case. And so this is Yes, it's scary, it's disruptive to education, and it's going to the hoaxes are having real consequences.
00:08:54
Speaker 1: Yeah, it's frustrating to see them continue and to be so targeted like that. Next up on the Run, speaking of false reports. Yes, a false report of a shooting at the Naval Academy yesterday led to an actual shooting. This happened yesterday on the Annapolis campus. The midshipmen were put in lockdown after threats were made online.
00:09:15
Speaker 2: Yeah, but in the confusion, in the chaos and the misinformation going around. One midshipman mistook a responding law enforcement officer who was doing a sweep of a building, mistook that officer as a threat and tried to protect I guess fellow classmates and went after the officer with his training rifle and struck the officer. So the officer then shot the student, who had to be airlifted to a hospital. Non life threatening injuries we can report, but the threat was a false one. Robes believed to have come in from a student who had been kicked out of the school previously, who was sitting one thousand miles away.
00:09:58
Speaker 1: Disgusting. It's disgusting that there's that retaliatory mindset and then all the chaos it calls and someone actually getting shot. That is scary and hopefully a bit of a warning to anyone who thinks it's funny in any way, shape or form. Well, next up on the run. Stocks hit all time highs yesterday, and we're talking all of them, the Dow, the S and P, and the Nasdaq. They all closed at record highs yesterday.
00:10:26
Speaker 2: Yeah, the Dow closed up six hundred and seventeen points, closed at forty six and eight. This is the first time, but Dow has ever crossed the forty six thousand marks. So exactly what's going on out there? Well, this, apparently, Robes. A lot of investors are anticipating what the Fed is going to do later this month with interest rates. They believe now the things have been put into place with his latest inflation data, things or about what they thought they were going to be. They feel like their stability and now the road has been paved for the Fit to cut interest rates, and so they're excited about that, and they reacted yesterday, and we're at all time highs. All we're here. We'll always talk about the rich getting richer, But who in the country right now feels like, wow, things really took off for me yesterday.
00:11:13
Speaker 1: Well, if you've got your four oh one k invested in the right places, I guess you saw in that sense, all boats rise in that moment when the stock market goes up. If you've got money in the invested in any way, yeah, you won too. Little guys as well, Yeah.
00:11:31
Speaker 2: I'm sure it felt that way to them yesterday. Robes. Well, I'll stay with those folks here on this morning run. When we come back, I am going to explain why Robes is so wrong about how the little guys should be feeling right now based on inflation.
00:11:45
Speaker 1: Shit, if you get a four oh one k in the market, that's it. That's it, four one k and ira something like that.
00:11:50
Speaker 2: I'm just teasing you. I will though, when we come back, allow her to continue to put said foot in that mouth. Also when we come back, there is a bit big Fed Reserve meeting we're talking about coming up soon, and the President is once again making sure at least one Fed governor is not at that meeting.
00:12:18
Speaker 1: Welcome back to this Friday morning run. And we just heard TJ talk about how investors like what they heard yesterday with all that new inflation data, stock markets all time high. Well, investors might have liked those numbers, but most Americans can't be too happy about them, because the Labor Department's data shows inflation, yes did increase last month, with Americans paying more from groceries.
00:12:40
Speaker 2: To gas that consummer prices were up to point nine percent last month. That's an even higher increase from July when inflation was at two point seven percent. We also paid more for new and used cars, clothing, and airfare. In August, the Financial experts out there think Trump's tariffs may have contributed to some of the higher prices we've been seeing, from coffee to bananas to clothing.
00:13:02
Speaker 1: And yes, all of those higher prices will play into the Federal Reserves decision next week regarding those interest rates. In despite all of that data, yes, most analysts do expect the Fed to lower interest rates. The prediction is by a quarter percentage point to help with the sagging job market. But it is still anyone's guest. They don't know which way the Federal Reserve is going to go, and sometimes they have surprised us.
00:13:25
Speaker 2: You go, what's the over under? How many times is the President going to call your own Powell? Too late? Powell?
00:13:32
Speaker 1: Yes, it's gonna probably start on Monday, maybe even Sunday night.
00:13:38
Speaker 2: And final leg here we stick with the Federal Reserve. Yes, they have a meeting next week. They're going to decide about interest rates. Just mean they're gonna decide a lot about your next loan. Maybe. Well, the President is making one last effort to try and make sure that Federal Reserve Governor Lisa Cook isn't a part of that decision.
00:13:57
Speaker 1: Yes, Trump, as you may remember, fired Cook from the board last month after accusing her of making false claims on mortgage applications, but on Tuesday, a US district judge blocked that firing, saying Trump has not stated a legally permissible cause for Cook's removal. So in response, yesterday, the Trump administration asked a federal appeals court to lift that ruling blocking the president from firing Cook.
00:14:23
Speaker 2: And here is their case, and I quote here. The evidence, which Cook has yet to offer a contrary explanation for, was that she applied for two loans for her personal benefit and was able to obtain favorable interest rates by misrepresenting where she lived. Regardless of whether that misconduct occurred before or during office, it indisputably calls into question Cook's trustworthiness and whether she can be a responsible steward of the interest rates and economy for the whole nation. That's the key point. I think her lawyers are saying this conduct is outside I don't even know if they've direct I think they're saying they're denying the allegation, but they're also saying it was before she was in her current role, so it doesn't apply.
00:15:10
Speaker 1: Correct. So Cook's lawyer also maintained that the government's accusations are unsubstantiated and vague, and called the appeal wholly unwarranted. Here's my favorite part. The Trump administration asked for the appeals Court to act by the end of the day Monday, noting that the Feds are set to have their meeting Tuesday and Wednesday.
00:15:30
Speaker 2: They are really trying to get her out of there.
00:15:31
Speaker 1: He wants to ensure that the interest rates are cut, and he wants to put He's already nominated someone to take her place, so he wants his person in there to ensure he'll have a majority, which he believes will ensure the fact that the Feds will, yes, in fact, cut interest rates. I'm curious if Cook is on the board next week when this decision comes down, if she's so upset by everything he's done, if that will influence her at all. I mean, it's interesting to see, like how all of this plays out into the psyche.
00:16:04
Speaker 2: Yes, she is not going to mess with the world economy because of a personal red strip with Trump. She is. I don't know this woman at all. I wager she's not that kind of petty.
00:16:14
Speaker 1: I think that she wouldn't want to have that be the optics at the very.
00:16:18
Speaker 2: Least before we let you get going on this Friday, something we like for you to take with you, something to consider. It is our quote of the day.
00:16:27
Speaker 1: Death is not the greatest loss in life. The greatest loss is what dies inside us while we live.
00:16:34
Speaker 2: Woo. That is scary.
00:16:40
Speaker 1: And this comes from He's a late he died many many years ago, but he was a political journalist. His name is Norman Cousins, so he was very well versed in politics and perhaps how that can suck the life out of you. Now I am totally editorializing here, but I did think this was an amazing quote and something to ponder as we decide how we live each day, each moment.
00:17:03
Speaker 2: We're so scared of death, right, We're not scared of life. We're not scared of squandering moving every single day. We don't fear that enough. Yeah, I love this one.
00:17:11
Speaker 1: Go call the David all right, death is not the greatest loss in life. The greatest loss is what dies inside us while we live. And without everyone, thank you for running with us.
00:17:22
Speaker 2: I'm Amy Robot and I'm TJ. Holme Seeyll Soon
Speaker 1: Morning Run with Amy and TJ and iHeartRadio Podcast. Good morning everyone, and welcome to Morning Run. It is Friday, September twelfth.
00:00:11
Speaker 2: I'm Amy Roboch, I'm TJ Holmes. And the last thing we said to each other folks before we started recording, was, man, everything is heavy today, Like there's no light story. We like to have some good news. I'm sure we could dig and find something, but everything just seems there's been a weighty week.
00:00:27
Speaker 1: It's been a really heavy week, a tough week, and yeah, we always try to look for some fun, light, uplifting story in the news industry. We call them kickers, and they're like an essential part of any rundown in any newsroom. But we couldn't find any. You know what. The silver lining at least is for those of us here in New York, we have a gorgeous stretch of weather coming up, and so I can lean on the fact that it's going to be seventy nine and sunny today.
00:00:56
Speaker 2: Yeah, this is just a it's been a difficult one. It's been a difficult week, and certainly nine eleven, with those commemorations, it just things felt a little heavy. So we'll let you know what's going on out there? We saw, Robes. One of the things that happened, we knew probably this was eventually going to happen, that a hoax about a shooter on a campus leads to an actual shooting. We'll tell you what happened there. This is at the Naval Academy. But let's start really this morning, Robes, Let's just get right to it. Charlie Kirk. It is remarkable that as high profile and as many eyes were on this thing, on this case, and you know, the President of the United States, once this killer caught immediately, that we are now entering day three of this man hunt.
00:01:39
Speaker 1: I would not have predicted that, especially with his image being shown yesterday everywhere, and to wake up this morning, the first thing we did was look at our phones to see if he had been captured, but in fact, yes, we begin our run in Utah, where the manhunt for Charlie Kirk's killer does continue today.
00:01:57
Speaker 2: So far.
00:01:58
Speaker 1: Here's the thing, they don't even know, or at least they haven't said they know who they're actually hunting. Police are pleading with the public for help and identifying the person of interest, and overnight they have released even more video and more images.
00:02:13
Speaker 2: And the one video, the primary one, you can't see the person at least identifying markers on the person that well because it's from a little bit of a distance, but you can clearly see someone running across the roof. Then they kind of scuttle down the side a little bit and then jump fairly significant distance down to the ground, then walk across a lawn, and this video you can see the person wearing a backpack the entire time. There's another video out there that shows what appears to be the same person wearing the same stuff where it was walking down a neighborhood street not too long after the shooting. And you and I don't know how much this is being talked about, but that person clearly had a limp.
00:02:49
Speaker 1: Oh limping pretty badly, and obviously because when I saw him take that jump, that was no small feet, that was a big distance. So it wasn't surprising to me that he injured himself in that jump in that that's clearly what it appears to be.
00:03:01
Speaker 2: All right. And police also release new images that highlight the person's attire, that black T shirt with an American flag on the front, and also they were pointing out the person's converse all stars that they were wearing.
00:03:13
Speaker 1: Yeah, and we got a closer look at him, and it's really obvious that he is of college age. Yeah, I said to you, he's obviously young. You can just tell by the images. But there are Yeah, there's now a lot of incentive out there if anyone does recognize him to call it in because there is a one hundred thousand dollars reward for information leading to an arrest. And police say right now they have fielded seven thousand leads and they have to trace each and every one of those down. The Utah governor announced yesterday that the state will be seeking the death penalty in this case. So, look, they've talked the talk. They've said, hey, we're going to find you, We're going to bring you to justice, We're gonna impose the death penalty on you. The problem is they don't know who it is yet.
00:03:57
Speaker 2: And given the resources they have, I mean, we've seen some pretty improbable manhunts before, but just given the resources, everybody is looking for this guy. And three days in now we still don't know. And again, as of this recording, folks, he has not been captured. Meanwhile, Charlie Kirk's casket arrived back in his home state of Arizona yesterday, carried aboard Air Force two. Vice President Vance went to Utah yesterday. He along with uniformed service members, escorted Kirk's casket onto the plane and.
00:04:27
Speaker 1: Kirk's wife, Erica, was there with the Vanceys for that flight back to Phoenix yesterday. And as far as the funeral itself goes, here's the information that we have. While it's all coming from the President himself, Trump told reporters he believes the funeral will be next weekend. And the President did say he will attend Charlie Kirk's funeral.
00:04:47
Speaker 2: He used the word obligation. He says, I have an obligation to go. This is look, we can say what we want. We talk about this inner circle and loyalty. The President is returning that loyalty. I mean they do. I mean, this was a guy that close to them to see them react the way they have. And was it yesterday at the at the Pentagon, yes during the nine to eleven ceremonies, we looked up and saw the presidents at my goodness, he looked well.
00:05:11
Speaker 1: He did not look well, and he looked as tired. And as disturbed as I've ever seen him. Look, his face actually showed pain and fatigue. I think that's what it looked like to me. You could just see the toll this death, this assassination has taken on him.
00:05:30
Speaker 2: It really did seem that way. It genuinely did seem that way. All right, we're going to continue on the run. Now. The next leg brings us back here to New York, where the President did wrap up nine to eleven commemorations by attending the New York Yankees game against the Detroit Tigers. That meant, of course, a little bit of a security nightmare. They did give people heads up, the President's going to be here, it's going to be some extra security. See US Open last week, And it looks like folks they did heat the warnings and it wasn't that much of a mess.
00:05:58
Speaker 1: Yeah, perhaps when people did see what happened to the US Open, they made a decision not to make a repeat of that. So even the roads were blocked off, helicopters were circling above, and all those baseball fans were yes greeted by Secret Service, the NYPD and TSA officers when they entered Yankee Stadium. Yankee Stadium decided to open three hours ahead of the first pitch to accommodate all that extra security, So by all accounts, it went fairly smoothly, as smoothly as it can when the president is in attendance. And when Trump was shown on the big screen both during the national anthem and then again during the seventh inning stretch where they seen God Bless America, there was a mix of cheers and booze, and at one point a group of fans below where Donald Trump was so that box began a Donald Trump chat. I'm sure he a chat. Chant. I can't talk.
00:06:46
Speaker 2: I'm sure he appreciated that you have chat in the.
00:06:49
Speaker 1: And I meant to say chant. Okay, so I read what's in front of me, apparently, and I can't compute when I've made a typeo, I'm Ron Burgundy and go f yourself, san Diego. No.
00:07:00
Speaker 2: Before the first pitch last night, the Yankees held a moment of silence for Charlie Kirk. Trump is the third sitting president to attend a game at a Yankee stadium. I'm surprised it's only been three for some reason.
00:07:11
Speaker 1: And when you look and see who they are, It's actually interesting George W. Bush when he threw out that ceremonial first pitch after nine to eleven, and then the only other president was Warren Warren. Okay, Warren, thank you? Warren Harding? Can you tell that I need some sleep? It's Friday. It's been a long week, Warren Harding in nineteen twenty.
00:07:30
Speaker 2: Three, No way I would have come out with that one.
00:07:32
Speaker 1: The opening year of the original Yankee Stadium, and no other president has been the Yankee Stadium.
00:07:38
Speaker 2: That is an amazing trivia question. Who are the only three presidents to attend a Yankee game? Oh? My god?
00:07:45
Speaker 1: Because when I saw that, I had to add it because that actually shocked me. I would have thought significantly more presidents would have attended a Yankees game.
00:07:52
Speaker 2: Have you checked your sleep score? Did you get it? Yeah? It's bad? What is it?
00:07:55
Speaker 1: It's in the sixties.
00:07:56
Speaker 2: Wow? Okay, folks, so.
00:07:57
Speaker 1: Sixty three, I think.
00:07:58
Speaker 2: Okay, forgive her. Okay, she's going through some things right now.
00:08:02
Speaker 1: All right, bear with me as we continue our run where several HBCUs were on lockdown and canceled classes yesterday after receiving unspecified threats.
00:08:14
Speaker 2: We're talking about at least six schools and they kind of spread out all over. But these threats started coming in to some of these schools and then other schools just started closing just in case, even though they didn't get threats. They don't know where this has come from. The FBI did get involved. They said every single one of these was a hoax, but still they have to take them all seriously. The schools that we know were impacted Alabama State, Virginia State, Hampton, Southern Clark, Atlanta, and Bethune Cookman. And again Spelman was one that didn't get a threat, but they say, we're just closing just in case. And so this is Yes, it's scary, it's disruptive to education, and it's going to the hoaxes are having real consequences.
00:08:54
Speaker 1: Yeah, it's frustrating to see them continue and to be so targeted like that. Next up on the Run, speaking of false reports. Yes, a false report of a shooting at the Naval Academy yesterday led to an actual shooting. This happened yesterday on the Annapolis campus. The midshipmen were put in lockdown after threats were made online.
00:09:15
Speaker 2: Yeah, but in the confusion, in the chaos and the misinformation going around. One midshipman mistook a responding law enforcement officer who was doing a sweep of a building, mistook that officer as a threat and tried to protect I guess fellow classmates and went after the officer with his training rifle and struck the officer. So the officer then shot the student, who had to be airlifted to a hospital. Non life threatening injuries we can report, but the threat was a false one. Robes believed to have come in from a student who had been kicked out of the school previously, who was sitting one thousand miles away.
00:09:58
Speaker 1: Disgusting. It's disgusting that there's that retaliatory mindset and then all the chaos it calls and someone actually getting shot. That is scary and hopefully a bit of a warning to anyone who thinks it's funny in any way, shape or form. Well, next up on the run. Stocks hit all time highs yesterday, and we're talking all of them, the Dow, the S and P, and the Nasdaq. They all closed at record highs yesterday.
00:10:26
Speaker 2: Yeah, the Dow closed up six hundred and seventeen points, closed at forty six and eight. This is the first time, but Dow has ever crossed the forty six thousand marks. So exactly what's going on out there? Well, this, apparently, Robes. A lot of investors are anticipating what the Fed is going to do later this month with interest rates. They believe now the things have been put into place with his latest inflation data, things or about what they thought they were going to be. They feel like their stability and now the road has been paved for the Fit to cut interest rates, and so they're excited about that, and they reacted yesterday, and we're at all time highs. All we're here. We'll always talk about the rich getting richer, But who in the country right now feels like, wow, things really took off for me yesterday.
00:11:13
Speaker 1: Well, if you've got your four oh one k invested in the right places, I guess you saw in that sense, all boats rise in that moment when the stock market goes up. If you've got money in the invested in any way, yeah, you won too. Little guys as well, Yeah.
00:11:31
Speaker 2: I'm sure it felt that way to them yesterday. Robes. Well, I'll stay with those folks here on this morning run. When we come back, I am going to explain why Robes is so wrong about how the little guys should be feeling right now based on inflation.
00:11:45
Speaker 1: Shit, if you get a four oh one k in the market, that's it. That's it, four one k and ira something like that.
00:11:50
Speaker 2: I'm just teasing you. I will though, when we come back, allow her to continue to put said foot in that mouth. Also when we come back, there is a bit big Fed Reserve meeting we're talking about coming up soon, and the President is once again making sure at least one Fed governor is not at that meeting.
00:12:18
Speaker 1: Welcome back to this Friday morning run. And we just heard TJ talk about how investors like what they heard yesterday with all that new inflation data, stock markets all time high. Well, investors might have liked those numbers, but most Americans can't be too happy about them, because the Labor Department's data shows inflation, yes did increase last month, with Americans paying more from groceries.
00:12:40
Speaker 2: To gas that consummer prices were up to point nine percent last month. That's an even higher increase from July when inflation was at two point seven percent. We also paid more for new and used cars, clothing, and airfare. In August, the Financial experts out there think Trump's tariffs may have contributed to some of the higher prices we've been seeing, from coffee to bananas to clothing.
00:13:02
Speaker 1: And yes, all of those higher prices will play into the Federal Reserves decision next week regarding those interest rates. In despite all of that data, yes, most analysts do expect the Fed to lower interest rates. The prediction is by a quarter percentage point to help with the sagging job market. But it is still anyone's guest. They don't know which way the Federal Reserve is going to go, and sometimes they have surprised us.
00:13:25
Speaker 2: You go, what's the over under? How many times is the President going to call your own Powell? Too late? Powell?
00:13:32
Speaker 1: Yes, it's gonna probably start on Monday, maybe even Sunday night.
00:13:38
Speaker 2: And final leg here we stick with the Federal Reserve. Yes, they have a meeting next week. They're going to decide about interest rates. Just mean they're gonna decide a lot about your next loan. Maybe. Well, the President is making one last effort to try and make sure that Federal Reserve Governor Lisa Cook isn't a part of that decision.
00:13:57
Speaker 1: Yes, Trump, as you may remember, fired Cook from the board last month after accusing her of making false claims on mortgage applications, but on Tuesday, a US district judge blocked that firing, saying Trump has not stated a legally permissible cause for Cook's removal. So in response, yesterday, the Trump administration asked a federal appeals court to lift that ruling blocking the president from firing Cook.
00:14:23
Speaker 2: And here is their case, and I quote here. The evidence, which Cook has yet to offer a contrary explanation for, was that she applied for two loans for her personal benefit and was able to obtain favorable interest rates by misrepresenting where she lived. Regardless of whether that misconduct occurred before or during office, it indisputably calls into question Cook's trustworthiness and whether she can be a responsible steward of the interest rates and economy for the whole nation. That's the key point. I think her lawyers are saying this conduct is outside I don't even know if they've direct I think they're saying they're denying the allegation, but they're also saying it was before she was in her current role, so it doesn't apply.
00:15:10
Speaker 1: Correct. So Cook's lawyer also maintained that the government's accusations are unsubstantiated and vague, and called the appeal wholly unwarranted. Here's my favorite part. The Trump administration asked for the appeals Court to act by the end of the day Monday, noting that the Feds are set to have their meeting Tuesday and Wednesday.
00:15:30
Speaker 2: They are really trying to get her out of there.
00:15:31
Speaker 1: He wants to ensure that the interest rates are cut, and he wants to put He's already nominated someone to take her place, so he wants his person in there to ensure he'll have a majority, which he believes will ensure the fact that the Feds will, yes, in fact, cut interest rates. I'm curious if Cook is on the board next week when this decision comes down, if she's so upset by everything he's done, if that will influence her at all. I mean, it's interesting to see, like how all of this plays out into the psyche.
00:16:04
Speaker 2: Yes, she is not going to mess with the world economy because of a personal red strip with Trump. She is. I don't know this woman at all. I wager she's not that kind of petty.
00:16:14
Speaker 1: I think that she wouldn't want to have that be the optics at the very.
00:16:18
Speaker 2: Least before we let you get going on this Friday, something we like for you to take with you, something to consider. It is our quote of the day.
00:16:27
Speaker 1: Death is not the greatest loss in life. The greatest loss is what dies inside us while we live.
00:16:34
Speaker 2: Woo. That is scary.
00:16:40
Speaker 1: And this comes from He's a late he died many many years ago, but he was a political journalist. His name is Norman Cousins, so he was very well versed in politics and perhaps how that can suck the life out of you. Now I am totally editorializing here, but I did think this was an amazing quote and something to ponder as we decide how we live each day, each moment.
00:17:03
Speaker 2: We're so scared of death, right, We're not scared of life. We're not scared of squandering moving every single day. We don't fear that enough. Yeah, I love this one.
00:17:11
Speaker 1: Go call the David all right, death is not the greatest loss in life. The greatest loss is what dies inside us while we live. And without everyone, thank you for running with us.
00:17:22
Speaker 2: I'm Amy Robot and I'm TJ. Holme Seeyll Soon