Fed Raises Rates for the First Time in 3yrs & What Happened to Ed Sheeran’s Tour

Neal Freyman (0:00)

The Colonel's cooked up a new $10 Bucket of the Day just for you.

Toby Howell (0:04)

Monday, 10 wings for $10.

Neal Freyman (0:06)

Tuesday, 8 piece fried chicken for $10.

Wednesday, 8 tenders for $10.

Thursday, 10 wings for $10.

Toby Howell (0:13)

Friday, 24 nuggets for...

Neal Freyman (0:16)

Oh, you guessed it, didn't you? $10.

The $10 Bucket of the Day Deal every weekday, only at KFC. It's finger lickin good. Prices and participation variable supplies last. Not available on third-party ordering platforms. Tax extra. Good Morning Brew Daily show. I'm Neal Freyman.

Toby Howell (0:33)

And I'm Toby Howell.

Neal Freyman (0:35)

Today, Japan hits an unthinkable age threshold.

Toby Howell (0:38)

Then, for the first time in three years, the Fed has hiked interest rates.

It's Thursday, September 17th. Let's ride.

Neal Freyman (0:53)

They're calling it one of the best takes of all time, an idea that will forever change the way you order food at a diner. On a podcast yesterday, Big Cat from Barstool noted how, when you're having breakfast out, you always want to eat pancakes, but you never want to order pancakes for yourself because you don't want to just do pancakes. How to solve this dilemma?

Pancakes for the table. It alleviates pancake anxiety for everyone, unlocking them to order something more substantive, like eggs, while also having one or two pancakes placed in the middle of the table. Toby, how have we not heard about this before?

Toby Howell (1:30)

I would expand it to include pretty much any sweet breakfast dish, be the guy who orders the cinnamon roll that everyone is eyeing, or the French toast, or the waffle. And actually, now that I'm saying that, expand it to include any appetizer, not even just at breakfast. There's always something on the menu, like a pig's in a blanket or a fried pickles, that you don't want to be the person caught ordering for yourself, but you would definitely eat it if it arrived at the table. So maybe take it upon yourself, be the table captain, take the plunge, order the pancakes, order the pigs in the blanket, make everyone happy. And now a word from our sponsor, hotels.com. Neal, you ever stay in a colonial hotel?

Neal Freyman (2:10)

No, why?

Toby Howell (2:12)

Because I just did on this work trip and they don't have Wi-Fi or plumbing.

Neal Freyman (2:17)

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Toby Howell (2:25)

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Neal Freyman (2:34)

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Toby Howell (2:47)

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Kevin Warsh, the quarterback of the economy said, hut hut hike yesterday. Going into the feds meeting, the combination of hotter than expected inflation and skyrocketing oil prices meant it was all but certain a rate hike was coming. Markets priced it at a 90% chance, and Warsh delivered. The 25 basis point increase in the federal funds rate was the first time the fed had raised rates since the Biden administration. The decision will not go over well with President Trump, who has loudly called for lower rates in a bid to stimulate the economy. Interest rates in the United States should be 1% or less, he posted on Truth Social. After starting his tenure without a clear plan for addressing rising prices, Warsh and the Fed calmed fears that under pressure from the president, he would be too soft on inflation. Yesterday's hike was a 12-0 unanimous decision, the first unanimous Fed decision since May of 2025 The plain fact is that inflation is too high, Warsh said at his press conference. So where does this leave us now? Well, nearly back to where we started when Trump took office in 2025 with decade high interest rates. The economy has held up well under the strain of those higher rates, but there are significantly more questions now, namely a war in the Middle East, putting pressure on prices. You know, at the beginning of the year, oil was $60 a barrel and markets were pricing in three rate cuts. Now oil prices are above $100 a barrel and the Fed's dot plot is showing the possibility of more hikes to come. It is amazing how quickly things can change.