Fed's Kashkari says inflation is 'still too high' even after softer-than-expected PCE data, labor market is 'pretty good'

CNBC - Sep 30, 2026

Kashkari sat down with CNBC's Steve Liesman for an exclusive conversation Wednesday night.

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Trump to unveil $200 billion investment in US projects by S. Korea, White House says
Oct 1, 2026
Trump to unveil $200 billion investment in US projects by S. Korea, White House says

WASHINGTON — President Donald Trump will announce on Wednesday plans for South Korea to invest $200 billion in U.S. projects, including $54 billion to build the long-planned Alaska liquefied natural gas project, a White House official said. The announcement will detail the first major projects under a broader $350 billion strategic investment package South Korea made as part of a trade agreement with Washington last year. The $350 billion package includes $150 billion for shipbuilding and $200 billion for strategic investments. The White House official said the investments would include the Alaska LNG pipeline project, eight large-scale nuclear power plants and a 6-gigawatt power generation facility in Texas. The announcement would be part of a series of economic and investment deals Trump is highlighting ahead of November's midterm elections, as he seeks to reinforce his economic record amid voter concerns over the Iran war and high gasoline prices. The Alaska LNG project also comes as Republicans seek to retain incumbent Senator Dan Sullivan who faces Democrat Mary Peltola. "Today, P

Republican committee chief urges 'heightened vigilance' over S. Korea-China ties: report
Oct 1, 2026
Republican committee chief urges 'heightened vigilance' over S. Korea-China ties: report

WASHINGTON — The Republican chair of the congressional committee on U.S.-China competition has called on Secretary of State Marco Rubio to maintain "heightened" vigilance over the warming relationship between Seoul and Beijing, which he said poses "significant risks" to the United States, a report said Wednesday. Rep. John Moolenaar (R-MI), chairman of the Select Committee on Strategic Competition Between the U.S. and the Chinese Communist Party, sent the letter, citing deepening leader-level relations between Seoul and Beijing, South Korean semiconductor investment in China and "unfair" treatment of U.S. firms in Korea compared with Chinese rivals, according to Reuters. Moolenaar portrayed South Korea as a "major American ally" but pointed out the "potential for frictions to develop into a structural shift in Seoul's alignment." He expressed concerns over what he called the "unprecedented" pace of leader-level engagement between Seoul and Beijing, noting that Chinese President Xi Jinping visited South Korea for the first time in 11 years last year, and that South Korean President Lee

What to know about the terrifying FlyDubai flight forced to land in Saudi Arabia
Oct 1, 2026
What to know about the terrifying FlyDubai flight forced to land in Saudi Arabia

One pilot stabs another as he attempts to take control of a flight from the United Arab Emirates to Israel with the aim of crashing it, according to Israel's prime minister. Passengers, many of whom are Israelis, fear for their lives as the FlyDubai aircraft loses half its altitude in about a minute. As Israel scrambles fighter jets out of concern for a possible hijacking, a passenger and crew member break into the cockpit to subdue the attacker and other crew members gain control of the aircraft, which lands safely in Saudi Arabia. The terrifying incident on Wednesday occurred just days before the anniversary of the Oct. 7, 2023, attack on Israel that launched the war in Gaza. It has rekindled anxieties about airline security and focused attention on an unsettling question: Are pilots a significant threat to the flying public's safety? Here’s what we know — and don’t know — about what happened on FlyDubai flight FZ1073: A fight, an alert and a rapid descent The distress call came at 8:44 a.m. local time, about two and a half hours after the flight with about 170 passengers left Du

US military says its withdrawal of troops from Iraq is complete
Oct 1, 2026
US military says its withdrawal of troops from Iraq is complete

BAGHDAD — The U.S. military announced Wednesday that it completed the withdrawal of all American troops from Iraq, ending a 12-year mission to fight the Islamic State group. The last U.S. troops left an air base in northern Iraq under a deal between Baghdad and Washington. The withdrawal, agreed on two years ago, comes against the backdrop of the ongoing war between the United States and Iran that has also sometimes spilled over into Iraq, with Iran-backed militias firing on U.S. troops and the U.S. striking the groups' strongholds. In recent years, Washington has appeared to seek to shift its focus from the Middle East toward Asia, but that shift has been inconsistent, with the Pentagon alternating between reducing its Mideast presence and then finding itself engaging in new conflicts — including the ongoing war in Iran. Baghdad touted the end of the U.S. mission as a sign of the country's increasing strength and sovereignty. The withdrawal was also celebrated by Iran-backed groups but raised concerns among some other Iraqis, particularly in the Kurdish region, where many fear a res

Pilot carrying Israelis stabbed co-pilot, apparently tried to crash: Netanyahu
Oct 1, 2026
Pilot carrying Israelis stabbed co-pilot, apparently tried to crash: Netanyahu

TEL AVIV, Israel — A pilot on a flight from the United Arab Emirates to Israel stabbed another pilot Wednesday and then apparently tried to crash the jetliner carrying around 170 people, Israel's prime minister said. Passengers and crew subdued the attacker, and the plane landed safely in Saudi Arabia. As some passengers screamed, the FlyDubai flight issued an emergency alert and abruptly descended thousands of feet (meters). Israel scrambled warplanes amid concerns about a possible hijacking. As a plane carrying passengers from the flight landed Wednesday evening in Israel, it was not clear what motivated the attack. Video footage circulating on social media and reviewed by The Associated Press showed two men on the plane's floor, bloodied and wounded. Two people appeared to be providing medical treatment, while two others guarded the cockpit. “We are guarding the pilot,” one person said in Hebrew. In another video, passengers wept and cried out as the aircraft shook. Those who intervened “saved many lives and prevented a major disaster,” Israeli Prime Minister Benjamin Netanya

US inflation rises below expectations in August; consumer spending robust
Oct 1, 2026
US inflation rises below expectations in August; consumer spending robust

WASHINGTON — U.S. inflation increased less than expected in August and price pressures were more moderate in the prior month than previously reported, likely reducing the urgency for the Federal Reserve to raise interest rates again in October. Another rate hike this year, however, remains on the table as the report from the Commerce Department on Wednesday showed consumer spending surging last month. The economy so far appears to be holding up despite headwinds from the US-Israeli war with Iran, which has raised energy prices, with diesel prices at record highs. Financial markets knocked down bets for a rate increase next month. "The less-than-feared price data for August may buy the Fed time to await more data and pass on October 28, but still-elevated inflation and a resilient consumer and economy point to another rate hike by year-end," said Sal Guatieri, a senior economist at BMO Capital Markets. The Personal Consumption Expenditures Price Index rose 0.3 percent last month after a downwardly revised 0.1 percent gain in July, the Commerce Department's Bureau of Economic Analysis s

S&P 500, Nasdaq advance as soft inflation tempers Fed rate-hike bets
Oct 1, 2026
S&P 500, Nasdaq advance as soft inflation tempers Fed rate-hike bets

The Nasdaq jumped more than 1 percent on Wednesday, leading gains among Wall Street's main indexes, as a softer-than-anticipated inflation reading buoyed hopes that the Federal Reserve might not hike rates as soon as next month. A Commerce Department report showed the Personal Consumption Expenditures (PCE) price index stood at 3.4 percent on an annual basis in August against estimates of 3.7 percent, per economists polled by Reuters. Separately, second-quarter GDP data showed that the U.S. economy grew at a solid clip. "The PCE report today was under a microscope as participants try to get a handle on how aggressive the Fed needs to be with future rate increases," said Steve Wyett, chief investment strategist at BOK Financial. Traders now see a roughly 38 percent chance of an October hike, compared to a more than 50 percent chance seen one day prior, according to the CME FedWatch Tool. Barclays analysts also noted that recent methodology changes in calculating PCE by the Bureau of Economic Analysis also contributed to a lower reading. Most megacap and growth stocks ticked higher, with Am

Joy mixed with fear as US forces quit Iraq leaving potential security vacuum
Oct 1, 2026
Joy mixed with fear as US forces quit Iraq leaving potential security vacuum

BAGHDAD — Iraqis celebrated the departure of U.S. forces after more than two decades of war on Wednesday, though many feared that any security vacuum could increase the power of Iran-backed militias or provide an opening for the return of Islamic State. The withdrawal of the final troops, mainly from an airbase in Erbil in the semi-autonomous Kurdish region, ended the biggest U.S. war of the century, which brought widespread devastation and chaos from which Iraq has yet to fully emerge. Iran, which has entrenched its influence in Iraq through allied armed groups and is determined to drive all U.S. forces out of the Middle East, views the U.S. pullout as a triumph for its "axis of resistance" of allied armed groups across the region. Iraqi troops paraded in vehicles through the streets of Baghdad and the Shi'ite holy city of Najaf to mark the pullout. The withdrawal "fills our hearts with joy," said Baghdad resident Ahmed Salah, who said he felt reborn at the age of 70. But he also said it was now time for powerful militia groups to surrender their weapons, "and let the government be th

Russia sends nuclear warning to NATO as tensions rise in the Baltic
Oct 1, 2026
Russia sends nuclear warning to NATO as tensions rise in the Baltic

BRUSSELS — Russia has warned NATO it would be ready to resort to nuclear weapons if the Western alliance attempted to cut off Kaliningrad, a Russian exclave that borders the Baltic Sea. In a document sent to NATO and seen by Reuters, Moscow accused the alliance of a "dangerous and reckless course" that entailed "high risks of the outbreak of a direct armed conflict". The document said this included the possibility of "Russian strikes against decision-making centers in the alliance's member states right from the outset". "Russia will be ready to use the entire arsenal of forces and capabilities at its disposal, including nuclear weapons, in order to defend its territory should NATO countries undertake any attempt aimed at isolating the Kaliningrad Region from the rest of the country," the diplomatic note said. The warning highlighted Moscow's urgent concern at what it has presented as a growing NATO threat to Kaliningrad, a heavily militarized Russian territory that is wedged between Poland and Lithuania and is slightly bigger than the US state of Connecticut. Russian Foreign Ministry sp

Pentagon creates 'Autowarcom' to expand AI and drone capabilities
Oct 1, 2026
Pentagon creates 'Autowarcom' to expand AI and drone capabilities

WASHINGTON — US Defense Secretary Pete Hegseth on Wednesday announced the creation of a new military command that would be dedicated to building and providing autonomous and robotic capabilities across the US military. The command, which Hegseth said would be called "Autonomous Warfare Command," highlights the rapidly changing nature of warfare and the need to make progress on systems like drones and the use of artificial intelligence. Creating a new command is not common — the last one was US Space Command in 2019 — and the move reflects the Pentagon's push to shift from costly conventional weapons platforms to cheaper, AI-driven autonomous systems that have proved decisive in recent conflicts. Speaking in front of hundreds of junior officers and enlisted personnel at Quantico, Virginia, in a speech peppered with attacks on the media, Hegseth said the command would be led by a four-star officer. "The pace of war is changing faster than the process to support it," Hegseth said in a speech called the "State of the Force," in which he announced other changes, including the creation o

Stabbed In Cockpit, How Indian Captain Helped Avert Disaster, Save All 174 On Flydubai Flight
Oct 1, 2026
Stabbed In Cockpit, How Indian Captain Helped Avert Disaster, Save All 174 On Flydubai Flight

Machchhar fought back despite being seriously injured and managed to open the cockpit door. This allowed passengers and other crew members to enter and overpower the attacker.

Đông Nhi trở thành Đại sứ thương hiệu của Bellamy's Organic tại Việt Nam
Oct 1, 2026
Đông Nhi trở thành Đại sứ thương hiệu của Bellamy's Organic tại Việt Nam

Ngày 27-9, thương hiệu sữa công thức và thực phẩm hữu cơ cho trẻ em đến từ Úc - Bellamy's Organic - công bố ca sĩ Đông Nhi đảm nhiệm vai trò Đại sứ thương hiệu tại thị trường Việt Nam.

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