Many creationists accept a degree of evolution with closely related species regarded as the same "kind" (e.g. the canids might be accepted as the "dog-kind").
Punctuated Equilibria explains the relative rarity of direct fossil evidence for such transitions. It could not explain the absence of transitions between higher taxonomic levels i.e the fossils that represent what you would call macro-evolution.
Thus if PE and "macroevolution" were both false we should find many species level transitions and no fossils representing higher level transitions. Thus we could falsify this view on empirical grounds - if that was what we found.
If PE and "macroevolution" were both true we should find few species-level transitions and proportionately far more fossils representing higher-level transitions. And this is what is found. So the fossil evidence actually supports the combination of PE and "macroevolution".
In short creationism and PE predict the absence of DIFFERENT fossils - and it is the predictions of PE that are foudn to be empirically true.