12PM ET 05/21/2026 Newscast

Summary

Fox News Hourly Update – 12PM ET, May 21, 2026

Episode Overview

This episode of the Fox News Hourly Update delivers a fast-paced rundown of the top stories in U.S. politics, global diplomacy, legal news, historic auctions, and financial markets. The theme centers on regulatory rollbacks, U.S.-Iran negotiations, Democratic Party introspection after the 2024 election, a major sentencing in Minnesota’s pandemic fraud scandal, and a remarkable piece of the Eiffel Tower hitting the auction block.

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Key Discussion Points & Insights

1. Rollback of Biden-Era Refrigeration Rules

• EPA Administrator released Zeldin and President Trump announce the scrapping of Biden-era energy restrictions, specifically refrigeration rules.
• The change is claimed to save American families over $2.4 billion.
  • Quote: “Today's actions are saving over $2.4 billion for American families.” – EPA Administrator (00:06)
• The president’s approval on the economy hits a new low at 29% (Fox poll), with over half calling rising gas prices a "major problem."
• Rising energy costs are directly linked to global conflict, specifically ongoing U.S.-Iranian tensions.

2. U.S.-Iran Conflict and Diplomacy Efforts

• The White House rebuts a Reuters report, claiming Iran’s Supreme Leader has not ruled out surrendering enriched uranium.
• President Trump denies reports of U.S. sanctions relief offers.
  • Quote: “The president has rejected Iranian reports the US has offered sanctions relief.” – Lisa Brady (00:32)
• Fox Foreign Desk Update (00:43):
  • “It's fair to say that shuttle diplomacy is in high gear.” – Fox Correspondent
  • Tehran currently reviewing a counter peace proposal from Washington.
  • Pakistan plays a mediation role, with their interior minister in Tehran for the second time in a week; the army chief is also expected.
  • The Strait of Hormuz remains a focal point in the ongoing "tug of war."

3. Democratic Party Post-2024 Election Report Released

• DNC chair Ken Martin releases a nearly 200-page report analyzing the Democrats’ 2024 loss.
  • The report faults excessive anti-Trump messaging at the expense of a compelling economic pitch, especially to working-class and rural voters.
  • Highlights structural problems: inadequate outreach, little investment in building voter relationships, and slow adaptation to new media consumption habits.
  • Quote: “Democrats lost connection with working class Americans… focusing too much on anti-Trump messaging instead of coming up with a strong economic message that resonate with voters in the South, Midwest and rural America.” – Madeleine Rivera (01:24)
  • Calls for the party to “meet voters where they’re getting their content, like social media.”

4. Sentencing in Minnesota Pandemic Fraud Scandal

• Amy Bach is sentenced to over 41 years for her role as “kingpin” in a massive pandemic food aid fraud.
  • Convicted on wire fraud, bribery, money laundering, conspiracy (March 2025).
  • Scheme involved billing taxpayers for “phantom meals.”
  • Memorable moment: Bach told the court she "failed the public and her family."
  • U.S. attorney Daniel Rosen called the crime’s nature “brazen and staggering.”
    • Quote: “The brazen and staggering nature of her crimes…has shaken Minnesota to its core, leaving lasting damage and eroding public trust.” – Daniel Rosen, US Attorney (02:28)
  • Bach’s defense claims she was unaware of much of the fraud, blaming entities outside her control.
  • This sentencing is part of a broader federal fraud crackdown.

5. Trump Arch Project Approved in Washington D.C.

• The U.S. Commission of Fine Arts approves the design for a “Trump Arch” in the nation’s capital—a milestone amid ongoing opposition.
  • Considered a key step for the controversial project.

6. Historic Eiffel Tower Staircase Sells at Auction

• A 14-step, 9-foot-tall iron spiral staircase segment from the Eiffel Tower (1889) is sold at a Paris auction for approx. $522,000—nearly triple the expected price.
  • Provenance: Part of the original structure; removed in the 1980s.
  • The buyer’s identity has not been disclosed.
  • Quote: “The staircase, which stands roughly 9ft tall and weighs more than a ton, was removed in the 1980s during renovations.” – Matt Murphy (03:25)

7. Financial Markets Update

• Wall Street is in the red: Dow down 54 points; S&P and Nasdaq also negative.
• Oil prices above $101 a barrel, contributing to economic anxieties.

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Notable Quotes & Moments

• “Today's actions are saving over $2.4 billion for American families.” – EPA Administrator (00:06)
• “The president has rejected Iranian reports the US has offered sanctions relief.” – Lisa Brady (00:32)
• “It's fair to say that shuttle diplomacy is in high gear.” – Fox Correspondent (00:43)
• “Democrats lost connection with working class Americans… focusing too much on anti-Trump messaging instead of coming up with a strong economic message that resonate with voters in the South, Midwest and rural America.” – Madeleine Rivera (01:24)
• “The brazen and staggering nature of her crimes…has shaken Minnesota to its core, leaving lasting damage and eroding public trust.” – Daniel Rosen, US Attorney (02:28)
• “The staircase, which stands roughly 9ft tall and weighs more than a ton, was removed in the 1980s during renovations.” – Matt Murphy (03:25)

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Timestamps for Key Segments

• Regulation Rollback/Economy: 00:02–00:43
• Iran Diplomatic Developments: 00:43–01:09
• Democratic Election Report: 01:09–01:54
• Minnesota Fraud Sentencing: 01:54–02:47
• Trump Arch in D.C.: 02:47–03:07
• Eiffel Tower Auction: 03:07–03:49
• Markets Update: 03:49–end

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This episode offers a swift but comprehensive take on urgent policy changes, geopolitics, party politics, crime and punishment, and moments of historic significance—delivered in a brisk, factual, and at times dramatic style characteristic of Fox’s reporting.

Transcript

[A]

A rollback aimed at relief. On Lisa Brady, FOX News.

[B]

Today's actions are saving over $2.4 billion for American families.

[A]

That's EPA administrator released Zeldin moments ago alongside President Trump and business leaders as more Biden era energy restrictions are scrapped, in this case refrigeration rules. This has the president's approval rating on the economy sinks to 29% in new Fox polling. Just over half surveyed call rising gas prices a major problem as the conf conflict with Iran continues. The White House says a Reuters report of Iran's supreme leader ruling out giving up enriched uranium is not true. And the president has rejected Iranian reports the US has offered sanctions relief.

[C]

I think at this hour it's fair to say that shuttle diplomacy is in high gear. Tehran reportedly looking at the latest counterpeace proposal from Washington at this hour. But at the middle of all of this, we should mention is Pakistan, the country's interior minister in Tehran for the second time in less than a week to help mediate the talks. Also, Pakistan's army chief expected to join the discussions.

[A]

Fox Business Ashley Webster in Tel Aviv. As a tug of war continues over the Strait of Hormuz, a long awaited report on the Democrats 2024 election loss is now public after internal pressure to release it.

[D]

The report released by DNC chair Ken Martin today is nearly 200 pages long and one of its arguments is that Democrats lost connection with working class Americans focusing too much on anti Trump messaging instead of coming up with a strong economic message that resonate with voters in the South, Midwest and rural America. The report argues the 2024 election exposed deeper structural problems in the Democrats operation, like not spending enough time and money to build relationships. It states Democrats need to do more to meet voters where they're getting their content, like social media.

[A]

Fox's Madeleine Rivera, America is listening to Fox News. A woman at the center of a Minnesota fraud scandal just sentenced to more than 41 years in prison, Amy Bach, fearfully telling the court she failed the public and her family.

[B]

Bach was convicted in March 2025 on charges of wire fraud, bribery, money laundering and conspiracy. Prosecutors say she was the kingpin on this massive fraud that promised to feed poor kids during the pandemic and instead bill taxpayers for Phantom Meals.

[A]

Fox's Mike Tobin now in a pre

[B]

sentencing filing, U.S. attorney Daniel Rosen wrote the brazen and staggering nature of her crimes meaning Bach has shaken Minnesota to its core, leaving lasting damage and eroding public trust. Bock has stated that she trusted the people working with the and was clueless to the fraud, her defense argued, presentencing that many of the actors were entities outside of Ms. Bach's control.

[A]

This as a broader federal crackdown on fraud continues. Just getting word of a green light for the design of a Trump arch in D.C. the U.S. commission of Fine Arts signing off on it despite opposition, considered a key step in the process. For that project, a piece of one of the world's most famous landmarks is sold at a Paris auction.

[E]

A section of the Eiffel Tower's original spiral staircase fetched the equivalent of about US$522,000. The 14 step iron piece dates back to 1889, when the tower first opened during the Paris World's Fair. The buyer was reportedly inside the auction room during the sale, though their identity has not been released. The staircase, which stands roughly 9ft tall and weighs more than a ton, was removed in the 1980s during renovations. When with several sections later auctioned off to collectors and museums around the world, this latest piece sold for nearly three times more than auctioneers originally expected. Matt Murphy, Fox News they're selling on Wall Street.

[A]

The dow is down 54 points, the S and P and the Nasdaq also in the red as oil prices get back over $101 a barrel at least. The Brady, Fox News.