12PM ET 05/22/2026 Newscast

Summary

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Fox News Hourly Update | 12PM ET 05/22/2026 Newscast

Host: Lisa Brady, FOX News Podcasts
Date: May 22, 2026

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Overview

This hour’s Fox News update focuses on major U.S. and global political and economic developments: the swearing-in of a new Federal Reserve chair, rising global tensions with Iran, impacts on U.S.-Taiwan arms deals, litigation over abortion access for veterans, the latest on the Ebola outbreak in Congo, inflation-driven holiday travel challenges, and a unique update on shark migration. Anchors and correspondents deliver concise reports, capturing the tone of urgency and depth characteristic of breaking news.

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Key Discussion Points & Insights

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Federal Reserve Leadership Change

[00:02–00:13]

• Kevin Warsh is officially sworn in as the new chairman of the Federal Reserve Board of Governors, replacing Jerome Powell (who remains on the board).
• President Trump’s role: Acknowledged for pushing for more interest rate cuts and his criticism of Powell.

“President Trump moments ago before Warsh has sworn in to take over as chair from Jerome Powell, who'll still be on the Fed's board of governors for now.”
— Lisa Brady [00:13]

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Iran’s Toll Proposal & Global Maritime Security

[00:13–00:43]

• Iran is negotiating with Oman to introduce a toll on ships in the Strait of Hormuz, raising global economic security concerns.
• Expert skepticism: Analysts warn that international tolling could set a dangerous precedent.

“I don't know of anyone in the world that... should be in favor of a tolling system in an international waterway. That's just not acceptable. It can't happen.”
— Economist/Financial Analyst [00:32]

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U.S.-Iran Relations & NATO Response

[00:43–01:15]

• Secretary of State Marco Rubio reports minor progress in negotiations with Iran but expresses disappointment in some NATO allies’ lack of support.
• Geo-strategic implications: Concerns that the Iran conflict could spill over and affect U.S. interests in regions like the Taiwan Strait.

“The United States is straight up disappointed in some of the allies resisting since to fulfilling their security obligations in the Iran war.”
— Reporter/Gillian Turner (from Rubio’s remarks) [00:54]

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U.S. Arms Sales to Taiwan Paused

[01:15–01:45]

• Operation Epic Fury: Munitions needed for current military operations in Iran are leading the U.S. Navy to pause select foreign arms sales.
• Taiwan’s $14 billion arms deal: Not officially delayed, but questions raised after President Trump’s recent meeting with Xi Jinping.

“But Taiwan says it has not been notified of any delay in a planned $14 billion arms sale. Doubts about that arms sale were raised by President Trump following his trip to Beijing...”
— Military Analyst/Defense Correspondent [01:19]

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Veterans’ Lawsuit on Abortion Access

[02:31–03:03]

• Minority Veterans of America sues to reverse President Trump’s reinstated near-total ban on abortion at VA facilities.
• Policy timeline: Biden’s 2022 VA expansion allowed abortion access for rape, incest, or health risks; Trump reversed it to life-threatening cases only.

“The group Minority Veterans of America is suing in federal court to allow the broader exceptions, citing harm to its members. It accuses the VA of not following legal procedures to make the rule change.”
— Chris Foster [02:36]

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Ebola Outbreak in Congo

[03:03–03:18]

• The World Health Organization reports Ebola is spreading rapidly in Congo.
• Risk assessment: High local risk, but low probability of global transmission.

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Travel & Economic Update: Memorial Day Weekend

[03:18–03:31]

• Inflation impact: Domestic round-trip airfare averages $441, up 53% from the previous year; international fares also rising.
• Travel remains high despite price hikes.

“The average domestic round trip is $441. That is a 53% increase from last year.”
— Economist/Financial Analyst [03:18]

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Summer Shark Migration

[03:31–04:20]

• Shark safety: White sharks moving north as ocean temperatures rise; public cautioned to avoid swimming near seals and fish schools.
• Ocearch tracker: “Goodall,” a notable great white, makes a surprising 6,000-mile journey with a detour to the Bahamas.

“Migration is never linear or predictable... reporting an adult female great white they track named Goodall, swimming 6,000 miles from Canada to Florida's Gulf coast, took an unlikely detour to the Bahamas, maybe chasing prey or better ocean conditions.”
— Grady Trimble [03:38]

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Financial Markets

[04:20–End]

• Dow Jones reaches record territory, up by 414 points at broadcast time.

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Notable Quotes & Moments (with Timestamps)

• “I don't know of anyone in the world that... should be in favor of a tolling system in an international waterway. That's just not acceptable. It can't happen.”
  — Economist/Financial Analyst [00:32]

• “The United States is straight up disappointed in some of the allies resisting since to fulfilling their security obligations in the Iran war.”
  — Reporter/Gillian Turner (paraphrasing Secretary Rubio) [00:54]

• “The average domestic round trip is $441. That is a 53% increase from last year.”
  — Economist/Financial Analyst [03:18]

• “Migration is never linear or predictable... reporting an adult female great white they track named Goodall, swimming 6,000 miles from Canada to Florida's Gulf coast took an unlikely detour to the Bahamas.”
  — Grady Trimble [03:38]

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Timestamps for Important Segments

• [00:02] White House ceremony for new Fed chair
• [00:32] Iran/Oman tolling system analysis
• [00:54] Secretary Rubio on NATO allies and Iran conflict
• [01:19] Pause on U.S. arms sales to Taiwan
• [02:36] Veterans' lawsuit on VA abortion restrictions
• [03:03] WHO Ebola outbreak update
• [03:18] Holiday travel and airfare inflation
• [03:38] Shark migration and safety advice
• [04:20] Dow Jones market update

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This newscast succinctly covered high-stakes geopolitical shifts, U.S. policy actions, and summer trends, maintaining a brisk and informative tone for listeners on the move.

Transcript

[Lisa Brady]

A ceremony just underway at the White House on Lisa Brady, FOX News, the

[Narrator/Anchor]

swearing in of our new chairman of the Federal Reserve Board of Governors, Kevin Warsh.

[Lisa Brady]

President Trump moments ago before Warsh has sworn in to take over as chair from Jerome Powell, who'll still be on the Fed's board of governors for now. The president has been critical of Powell in a push for more interest rate cuts. Iran is reportedly in talks with Oman pushing its plan to create a tolling system for ships passing through the Strait of Horn.

[Economist/Financial Analyst]

I don't know of anyone in the world that would that should be in favor of a tolling system in an international waterway. That's just not acceptable. It can't happen. If that were to happen in the Straits of Hormuz, it will happen in five other places around the world.

[Lisa Brady]

Secretary of State Marco Rubio, though, also reporting slight progress in US Talks with Iran through mediators speaking to reporters ahead of a NATO meeting in Sweden. Fox's Gillian Turner is there in his

[Reporter/Gillian Turner]

one on one meeting with NATO Secretary General Mark Ruta. Secretary Rubio told him that the United States is straight up disappointed in some of the allies resisting since to fulfilling their security obligations in the Iran war. It could end up having spillover effects in other parts of the world, namely China, where freedom of navigation in the Taiwan Strait is critical to US Interests.

[Lisa Brady]

The conflict with Iran is also impacting US Arms sales to Taiwan.

[Military Analyst/Defense Correspondent]

The acting Navy secretary told a Senate panel this week that some foreign military sales are paused to make sure the military has enough munitions for Operation Epic Fury, the combat mission in Iran. But Taiwan says it has not been notified of any delay in a planned $14 billion arms sale. Doubts about that arms sale were raised by President Trump following his trip to Beijing to meet with Chinese President Xi Jinping.

[Lisa Brady]

Fox's Jared Halpern the White House. The Trump administration authorized an $11 billion arms package for Taiwan late last year, with another $14 billion worth approved by Congress in January. America is listening to FOX News.

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[Lisa Brady]

The veterans group is suing to end a near total ban on abortion coverage.

[Chris Foster]

Abortions are banned at Veterans affairs medical facilities and through its health care coverage for veterans and their families, except when the woman's life is at risk. President Trump brought that near total ban back this year. President Biden in 2022 had expanded VA abortion access to cases of rape or incest or when the pregnant woman's health is at risk. The group Minority Veterans of America is suing in federal court to allow the broader exceptions, citing harm to its members. It accuses the VA of not following legal procedures to make the rule change. Chris Foster, Fox News.

[Lisa Brady]

The head of the World Health Organization now says the Ebola outbreak in Congo is spreading rapidly and posing a very high risk there, but also saying the risk of global spread remains low. Despite higher gas prices and airfares, Americans still plan to travel this holiday weekend.

[Economist/Financial Analyst]

The average domestic round trip is $441. That is a 53% increase from last year. Similarly, airfare to Europe, Asia, Mexico and Central America is also more expensive.

[Lisa Brady]

Fox businesses Grady Trimble at Chicago's o' Hare Airport. And it's not just people on the move for the unofficial start of summer.

[Grady Trimble]

As humans migrate to the beaches, summer shark migration is underway, with white sharks their way north for cooler waters. The first evidence appeared on Martha's Vineyard when a large gray seal washed up dead with a chomp out of his belly, matching a great white jaw. The New England Aquarium reminds people to be shark smart, especially in shallow waters. Avoid seals or schools of fish as sharks. Numbers increase through the summer to a peak in the fall. But migration is never linear or predictable, says Osearch, reporting an adult female great white they track named Goodall, swimming 6,000 miles from Canada to Florida's Gulf coast took an unlikely detour to the Bahamas, maybe chasing prey or better ocean conditions.

[Lisa Brady]

Fox's Therese Crowley the Dows in record territory right now, up 4:14. Elisa Brady, Fox News.