This story appeared in The Logoff, a daily newsletter that helps you stay informed about the Trump administration without letting political news take over your life. Subscribe here.

Welcome to The Logoff: President Donald Trump’s Fed gambit has officially failed. 

What happened? On Wednesday, the Federal Reserve voted to raise interest rates by a quarter of a percent, citing ongoing inflation. The rate hike was widely expected, and normally it would be largely unremarkable (at least for this newsletter, which doesn’t generally cover monetary policy). 

In this case, however, it’s also a direct rebuke to Trump, who has spent the last year-and-a-half-plus demanding rate cuts — and plotting a Fed takeover to get them. 

How has Trump gone after the Fed? It’s a long list, but the two most significant episodes are Trump’s efforts to force Fed governor Lisa Cook from her seat to stack the Fed board in his favor (still ongoing) and the Justice Department’s coercive criminal investigation against former Fed chair Jerome Powell (since ended). 

Neither succeeded, but Trump likely thought his goal was in reach when the Senate confirmed his nominee for Fed chair, Kevin Warsh, in May. On Wednesday, however, Warsh — several months into a four-year term as Fed chair — bucked Trump’s persistent demands by voting for the rate hike.

Why does this matter? Trump successfully exerting political control over the Fed would be extremely bad news for just about everyone. Lowering interest rates is a great way to juice the economy in the short term — exactly what he might want as his party faces down a potential midterm wipeout. But it could seriously damage the economy’s long-term health too, which is why the Fed is designed — successfully, as it turns out — to be insulated from partisan politics. 

What else should I know? So far, Trump’s response to the hike has been muted, at least by his standards. 

He’s threatened to take more drastic action, however: Earlier this month, he said he would suspend trade relations “WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT” if the Fed went through with its rate hike.

It’s not clear whether he’ll make good on that threat — but one way or another, we likely haven’t heard the last of Trump’s Fed vendetta.

And with that, it’s time to log off…

Here’s a small bit of good news from New York: After an announcement by Mayor Zohran Mamdani earlier this year, the city is rolling out new, free public restrooms this week as part of a pilot program to address a longstanding complaint by New Yorkers. 

Have a great evening and we’ll see you back here tomorrow! 

This story appeared in The Logoff, a daily newsletter that helps you stay informed about the Trump administration without letting political news take over your life. Subscribe here.

Welcome to The Logoff: President Donald Trump can’t put his name on the Kennedy Center — so he’s closing it, effective immediately. 

What’s happening? On Tuesday, the board of the John F. Kennedy Center for the Performing Arts voted to close the building indefinitely, shortly after a federal judge rebuked efforts to engrave Trump’s name into the facade.

According to the board, the closure is because the center is in bad financial shape and the building itself is in a dangerous state of disrepair. Without Trump’s support, they claim, a renovation will be impossible — and Trump has made clear he won’t support it unless his name is on the building, even though Congress already approved $257 million for the project last year.

How did we get here? Trump has been obsessed with claiming the Kennedy Center — a memorial for an assassinated president — and its cultural cachet for himself ever since he returned to office last year. He quickly stacked the Kennedy Center board with his appointees, then installed himself as chair. 

In December, he had his name added to the building’s facade and its official title, temporarily making it the Trump-Kennedy Center. A federal judge ordered him to undo the renaming in June, and the administration complied — but the facade has remained covered since then, obscuring the removal.

In August, Trump also threatened the center with demolition if he didn’t get his way; he sounded a similar note in a Truth Social post Tuesday, writing that “the Building is destined to doom.” 

What’s the context? Trump and his handpicked board have both portrayed the Kennedy Center as a destitute, derelict institution in need of rescue. In reality, the Washington Post reported last month, he’s done his fair share to drive it into the ground: Ticket sales and fundraising both plummeted after his December renaming, resulting in a nearly $100 million shortfall. 

What’s the big picture? The Kennedy Center was doing just fine before Trump returned to office. Now, its doors will close because he can’t turn it into a monument to himself.

And with that, it’s time to log off…

I loved this recent episode from my colleagues over at Vox’s Unexplainable podcast, who went looking for the oldest story ever told — with some help from an astrophysicist and a cognitive anthropologist. You can listen here, or you can now find Unexplainable on Netflix. 

As always, thanks for reading, have a great evening, and we’ll see you back here tomorrow!