In a news wrap on September 30, 2026, the Federal Reserve's Inspector General reported that no criminal activity was found involving former Chair Jerome Powell related to the renovation of the central bank's headquarters. The nearly $2.5 billion project was criticized for poor management and lack of budget controls. This investigation followed President Trump's previous pressure on Powell regarding interest rates and a criminal investigation by the DOJ that was dropped earlier this year.
Defense Secretary Pete Hegseth announced that the Pentagon will reduce the number of generals and admirals by approximately 20% by the beginning of next year. Speaking at Marine Corps Base Quantico in Virginia, Hegseth described the cuts as part of a necessary culture change, despite concerns from some lawmakers about losing experienced military leaders. He also introduced initiatives for a new four-star command focused on drones and robotics, and a new Office of Religious Affairs, with outside advisers including Elon Musk and former House Speaker Newt Gingrich assisting in future warfare studies.
In Congress, Senate Democrats blocked a Republican-led effort to limit stock trading by lawmakers. The vote was 53 in favor and 47 against, falling short of the 60 votes needed for passage. The proposed Stop Insider Trading Act aimed to prohibit lawmakers and their families from purchasing individual stocks while allowing sales with advance notice. Democrats argued for a more comprehensive ban, including for the president. A separate bill concerning data centers and energy costs also failed to pass.
The Federal Trade Commission (FTC) is reportedly launching an investigation into several AI companies, including Anthropic and OpenAI, due to potential consumer risks associated with their technologies. The FTC plans to request information and testimony from top executives as part of this inquiry, marking the first official investigation into these concerns. This follows a meeting at the White House where President Trump discussed self-policing AI development with tech leaders.
Weather officials warned of excessive rainfall from a storm system fueled by remnants of Hurricane Polo, affecting over 25 million Americans from Arizona to the Midwest. Flash flood risks have prompted evacuations in New Mexico due to potential dam failures along the Rio Grande. In Mexico, floodwaters are receding in Baja California as residents return to salvage belongings.
In Ukraine, Russian strikes reportedly killed at least seven people, including a child, with firefighters responding to blazes in Kyiv. Ukrainian officials described the attacks as an attempt to weaponize winter by targeting the power grid. Russia's Foreign Ministry warned that European arms factories could become military targets, asserting that European nations are directly involved in the conflict. NATO Secretary-General Mark Rutte stated there is no imminent threat from Russia but emphasized readiness to respond if necessary.
On Wall Street, stocks closed mixed at the end of September, with the Dow Jones industrial average dropping over 400 points, while the Nasdaq gained around a quarter of a percent and the S&P 500 ended slightly lower.