12AM ET 05/23/2026 Newscast

Summary

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Fox News Hourly Update – 12AM ET 05/23/2026

Podcast: Fox News Radio Hourly Update
Host: Deborah Valentine
Date: May 23, 2026
Episode Summary:
This fast-paced newscast recaps top national and international stories—from President Trump's campaign and the latest developments in the Iran war, to intelligence community changes, a tragic incident in New York, new Federal Reserve leadership, tense NATO diplomacy, and an ambitious SpaceX launch—offering listeners concise updates and direct reporting from FOX News correspondents.

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Episode Overview

The episode delivers an urgent overview of the day's major headlines, focusing on President Trump's campaign efforts in New York, the ongoing Iran conflict, the resignation of Director of National Intelligence Tulsi Gabbard, a fatal shipyard explosion in Staten Island, the swearing-in of new Federal Reserve Chair Kevin Warsh, heightened NATO activity around Iran, and SpaceX’s crucial lunar test launch.

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Key Discussion Points & Insights

1. Trump Campaigns in New York, Iran War Looms

• [00:03–00:52]
  • President Trump rallied for Republican candidates in Rockland County, NY.
  • Introduced by New York Giants quarterback Jackson Dart.
  • Trump promoted his economic policies but the Iran conflict overshadowed the event.
  • Trump remarked on the inevitability of U.S. involvement in the Middle East due to Iran's nuclear ambitions, stating:
    • Quote: “I said, sorry to do this to you, but we're going to have to journey down to the Middle East. They said, why? I said because Iran is going to have a nuclear weapon if we don't stop him.” — Donald Trump ([00:21])
  • Trump suggested military action may soon resume, promised swift resolution to the war, and assured the public that “better prices are coming.”
  • Trump, alongside Rep. Mike Lawler, lauded the lifting of the SALT (state and local tax) deduction cap.
    • Quote: “I want to thank President Trump for delivering on his promise to lift the cap on SALT and deliver the largest tax cut in American history.” — Rep. Mike Lawler ([00:42])

2. Tulsi Gabbard Resigns as Director of National Intelligence

• [00:56–01:43]
  • Tulsi Gabbard is stepping down as DNI, citing her husband’s rare bone cancer diagnosis.
  • Her final day will be June 30.
  • Notable tenure achievements:
    • Declassified millions of pages regarding the JFK and RFK assassinations.
    • Released files alleging the Obama administration politicized intel on Russian election interference.
    • Gabbard’s background: former congresswoman and 2020 Democratic presidential candidate.
  • Quote (Summary): “Her tenure as DNI has been marked by declassifying millions of pages of government files ... She also released files she says shows Obama administration officials politicized intelligence about Russian election interference.” — Jared Halpern ([01:03–01:43])

3. Fatal Fire and Explosion in Staten Island

• [01:43]
  • A shipyard disaster in Staten Island resulted in at least one fatality and over 30 injuries, the majority being first responders.

4. Financial Leadership: New Federal Reserve Chair

• [02:53–03:38]
  • Kevin Warsh sworn in as 17th Federal Reserve Chair, ceremony led by Justice Clarence Thomas.
  • Noted attendees: Scott Bessant, Kevin Hassett, and finalist Christopher Waller.
  • Waller emphasized that “it would be crazy for the Fed to contemplate cuts in the near future.”
  • The Iran conflict is pushing prices up, prompting policy “firming.”
  • Warsh has a reputation for advocating a smaller Fed.
  • Quote: "Central bankers say some policy firming might be appropriate if inflation persistently stays above that 2% target rate. Warsh begins his first term as the conflict in Iran puts upward pressure on prices." — Connor Hanson ([03:23])
  • Noteworthy: First White House Fed chair swearing-in since 1987.

5. NATO and the Iran Crisis

• [03:38–04:25]
  • Secretary of State Marco Rubio meeting all 30 NATO foreign ministers in Sweden; focus on the Iran war.
  • Key consensus: urgency to reopen the Strait of Hormuz for global trade.
  • Pakistani officials arrive in Tehran, recognized as diplomatic intermediaries in U.S.-Iran negotiations.
  • President Trump forward deployed 5,000 troops to Poland, after recently withdrawing the same number from Germany.
  • Quote: “One thing though everybody here seems to really agree on is the need to get the Strait of Hormuz back open again.” — Gillian Turner ([03:56])
  • Iran’s foreign minister states major differences remain in negotiations.

6. SpaceX’s Lunar Mission Test

• [04:25–04:49]
  • SpaceX launches its most advanced Starship from Texas.
  • The upgraded vehicle is vital to NASA’s upcoming moon-landing plans.

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Memorable Quotes & Moments (with Timestamps)

• Donald Trump, on Iran:
  “I said, sorry to do this to you, but we're going to have to journey down to the Middle East. They said, why? I said because Iran is going to have a nuclear weapon if we don't stop him.”
  — Donald Trump ([00:21])

• Rep. Mike Lawler, on SALT deduction cap:
  “I want to thank President Trump for delivering on his promise to lift the cap on SALT and deliver the largest tax cut in American history.”
  — Mike Lawler ([00:42])

• Jared Halpern, summarizing Tulsi Gabbard’s legacy:
  “Her tenure as DNI has been marked by declassifying millions of pages of government files ... She also released files she says shows Obama administration officials politicized intelligence about Russian election interference.”
  — Jared Halpern ([01:03–01:43])

• Christopher Waller, Federal Reserve Governor:
  “It would be crazy for the Fed to contemplate cuts in the near future.” — Quoted by Connor Hanson ([03:09])

• Gillian Turner, on NATO goal in Iran crisis:
  “Everybody here seems to really agree on ... the need to get the Strait of Hormuz back open again.”
  — Gillian Turner ([03:56])

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Timestamps – Key Segments

• 00:03–00:52: Trump rallies in NY, Iran war updates, tax policy, Lawler’s reelection.
• 00:56–01:43: Tulsi Gabbard’s resignation and DNI legacy.
• 01:43: Staten Island shipyard explosion.
• 02:53–03:38: Fed Chair swearing-in, inflation, monetary policy outlooks.
• 03:38–04:25: NATO ministers meet on Iran, troop movements, diplomatic channels.
• 04:25–04:49: SpaceX launches upgraded Starship, NASA’s moon mission.

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Conclusion

This brisk newscast captures a snapshot of a pivotal moment: dramatic foreign conflicts with broad economic impacts, shifting political leaderships at home, intelligence community shake-ups, and relentless scientific ambition. The tone is urgent, factual, and tightly focused on the day's most pressing stories.

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Transcript

[A]

President Trump campaigns. I'm Deborah Valentine, FOX News. President Trump rallies in New York state for Republican candidates. Here's fox's Nate Foy after an introduction

[B]

from New York Giants quarterback Jackson Dart. President Donald Trump sold his economic policies in Rockland County, New York, but the Iran war is still top of mind.

[C]

I said, sorry to do this to you, but we're going to have to journey down to the Middle East. They said, why? I said because Iran is going to have a nuclear weapon if we don't stop him.

[B]

As Trump weighs resuming military action, he once again said the war will be over soon and promised better prices are coming. Trump and New York Congressman Mike Lawler praised the state and local tax deductions.

[D]

I want to thank President Trump for delivering on his promise to lift the cap on salt and deliver the largest tax cut in American history.

[B]

Lawler's running for reelection in an extremely competitive district.

[A]

That's fox's Nate Foy with that report. Director of National Intelligence Tulsi Gabbard is stepping down next month.

[E]

The director of National Intelligence, Tulsi Gabbard is resigning, she says, to be with her husband, who was diagnosed with an extremely rare form of bone cancer. Gabbard says her last day is expected to be June 30. Her tenure as DNI has been marked by declassifying millions of pages of government files on the assassinations of President Kennedy and his brother, former Attorney General Robert Kennedy. She also released files she says shows Obama administration officials politicized intelligence about Russian election interference. A former member of Congress, Gabbard ran for president as a Democrat in 2020. At the White House, Jared Halpern, FOX News.

[A]

A fire and explosion at a shipyard on New York City's Staten island has killed at least one person and left more than 30 injured, mostly first responders. America's listening to Fox.

[F]

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[A]

Kevin Morsh has been sworn in as the 17th chair of the Federal Reserve. Fox Business Connor Hanson has the latest.

[G]

And it was a who's who in during that ceremony. Warsh sworn in by Justice Clarence Thomas. Scott Bessant and Kevin Hassett were both in the room. Hassett, of course, was a frontrunner for the job at one point. Another finalist for the spot, Federal Reserve Governor Christopher Waller, made comments shortly before that ceremony saying it would be crazy for the Fed to contemplate cuts in the near future. Central Bakers say some policy firming might be appropriate if inflation persistently stays above that 2% target rate. Warsh begins his first term as the conflict in Iran puts upward pressure on prices. In the past, Warsh has argued for reshaping the Fed and shrinking its footprint.

[A]

This was the first time a Fed chair has been sworn in at the White House since 1987. Secretary of State Marco Rubio meets with foreign ministers from all 30 NATO countries. Fox's Gillian Turner reports from Malmo, Sweden with details.

[H]

This comes at an incredibly sensitive moment. The alliance we all know facing intense strain over the war in Iran. One thing though everybody here sees to really agree on is the need to get the Strait of Hormuz back open again. As Rubio met with NATO, Pakistani leadership arrived in Tehran. Rubio crediting the Pakistanis with being the go between in U. S. Iran talks since they started. Another big topic on the agenda, President Trump's decision to forward deploy 5,000 U.S. troops to Poland. This after pulling that same number back from Germany just a short time ago.

[A]

Iran's foreign minister says there are still major differences between the two sides. SpaceX launching its biggest, most powerful starship yet from southern Texas on a test flight Friday. An upgraded version that NASA is counting on to land astronauts on the moon. I'm Debra Valentine. This is Fox News.

[I]

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