President Trump at the White House holding a call Iran officials

Summary

Fox News Hourly Update – May 23, 2026

Main Theme:
This episode delivers a rapid roundup of major national and international news, focusing on the ongoing war in Iran and related diplomatic efforts, economic updates with a new Federal Reserve chair, high-level government transitions, upcoming events like the Indy 500, and a poignant broadcast industry milestone.

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Key Discussion Points & Insights

1. War in Iran: Stalled Negotiations & International Mediation

• Current Status:

  • The war in Iran has lasted nearly three months with ceasefire negotiations ongoing but little common ground found so far. (00:03)
  • “Negotiators are still trying to reach an agreement to end it, but the parties are far apart on a number of things.” – Daria Albinger, 00:05

• Regional Mediation Efforts:

  • Pakistan has sent a high-level delegation, including its army chief, to Iran in hopes of brokering a ceasefire between conflicting parties. Meetings are underway with Iran’s foreign minister and parliamentary leaders. (00:13)

• International Political Reactions:

  • Senator Marco Rubio, after recent NATO meetings, advocates for a ‘Plan B’ if US-Iran talks fail:
    • “Tehran cannot control or monetize the freedom of navigation and they can’t have a nuclear weapon back here in the U.A.E.” – Jeff Paul summarizing Rubio, 00:25

• Prognosis for a Deal:

  • A UAE official estimates only a “50-50 chance” for a US-Iran deal due to concerns about Iran’s negotiation tactics. (00:36)
    • “His concern lies within the fact that Iran, according to him, has a history of overplaying the cards they are dealt.” – Jeff Paul, 00:45

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2. Economic Update: New Federal Reserve Chair Amid Uncertainty

• Leadership Transition:

  • Kevin Warsh sworn in as the Federal Reserve’s 17th chair by Justice Clarence Thomas. The ceremony was attended by former frontrunners and central bank officials. (01:07)
  • “It was a who’s who in that ceremony. Warsh sworn in by Justice Clarence Thomas. Scott Bessant and Kevin Hassett were both in the room.” – Connor Hansen, 01:09

• Outlook & Policy Stance:

  • Fed Governor Christopher Waller recently called any discussion of rate cuts “crazy.” Central bankers advise possible policy firming if inflation persists.
  • “Walsh 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.” – Connor Hansen, 01:34

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3. Major Resignation: Director of National Intelligence Steps Down

• Tulsi Gabbard Resigns:

  • Cites family health reasons; leaves her position on June 30 to care for her husband, who is seriously ill. (02:38)
    • “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.” – Jared Halperin, 02:40

• Tenure Highlights:

  • Known for declassifying millions of pages on Kennedy assassinations and releasing files alleging politicization of intelligence in the Obama administration. (02:50)

• Background:

  • Former Congressional member and 2020 Democratic presidential candidate.

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4. Sports Preview: Indy 500 Set to Break Records

• Event Excitement:

  • The Indy 500 is described as “the race of the year.” This edition will host 350,000 attendees, marking it as the largest single-day sporting event globally. (03:24)
  • “500 miles, three cars going speeds of 240 miles per hour...tomorrow, 350,000 people will pack into the Indianapolis Speedway...” – Garrett Tenney, 03:26

• Tradition:

  • For many, attending the event is a cherished annual tradition.

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5. Media Milestone: CBS News Radio Signs Off Forever

• Historic Goodbye:

  • After nearly a century on-air, CBS News Radio broadcasts its final program. (03:55)

    • “CBS News Radio signed off the air for the final time, ending nearly 100 years of broadcast history.” – Daria Albinger, 03:55
    • “Anchor Christopher Cruz delivered the final send off, concluding a century of broadcasting with Edward R. Murrow’s iconic phrase, ‘Good night and good luck.’” – Daria Albinger, 03:58

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Notable Quotes & Moments

• On Iran’s negotiation stance:
  “His concern lies within the fact that Iran, according to him, has a history of overplaying the cards they are dealt.” – Jeff Paul, 00:45

• On the new Fed chair amidst global conflict:
  “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.” – Connor Hansen, 01:34

• On the scale of the Indy 500:
  “Tomorrow, 350,000 people will pack into the Indianapolis Speedway in for what is the largest single day sporting event in the world.” – Garrett Tenney, 03:36

• On the end of a broadcast era:
  “CBS News Radio signed off the air for the final time, ending nearly 100 years of broadcast history.” – Daria Albinger, 03:55
  “Christopher Cruz delivered the final send off...with Edward R. Murrow’s iconic phrase, ‘Good night and good luck.’” – Daria Albinger, 03:58

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Timestamps for Important Segments

• Iran War & Diplomacy: 00:03–00:58
• Federal Reserve Transition: 01:07–01:48
• DNI Tulsi Gabbard Resignation: 02:32–03:18
• Indy 500 Preview: 03:18–03:55
• CBS News Radio Sign Off: 03:55–end

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This episode encapsulates a swift but comprehensive look at major global and national developments, with special attention to the Iran conflict’s ripple effects, high-level political transitions, economic policy, and the end of an era in broadcast journalism.

Transcript

[Commercial Announcer]

The discussions continue.

[Daria Albinger]

I'm Daria Albinger. The war in Iran has been going on for nearly three months. Negotiators are still trying to reach an agreement to end it, but the parties are far apart on a number of things.

[Jeff Paul]

A delegation from Pakistan is now in Iran, which includes the country's army chief. They're meeting with the Iranian foreign minister and the speaker of Parliament as Pakistan works to hammer out a ceasefire deal between the two sides. Marco Rubio, who just landed in India after NATO meetings in Sweden, says there needs to be a plan B. If Washington and Tehran can't agree on a deal, Rubio says Tehran cannot control or monetize the freedom of navigation and they can't have a nuclear weapon back here in the uae. One official who spoke out recently said he thinks there's a 5050 chance that Iran and the US can get a deal. His concern lies within the fact that Iran, according to him, has a history of overplaying the cards they are dealt.

[Daria Albinger]

That's Fox's Jeff Paul. There's a new head of the Federal Reserve. Kevin Warsh was sworn in Yesterday as the 17th chair of the nation's central bank.

[Connor Hansen]

And it was a who's who in 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, quote, unquote, crazy for the Fed to contemplate cuts in the near future. Central bankers say some policy firming might be appropriate if inflation persistently stays above that 2% target rate. Walsh begins his first term as the conflict in Iran puts upward pressure on prices. In the past, war has argued for reshaping the Fed and shrinking its footprint.

[Daria Albinger]

That's Connor Hansen of the Fox Business Channel. Wash is jumping right into things. With his first policy meeting in mid June, America is listening to Fox News.

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[Jared Halperin]

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[Daria Albinger]

Another member of the Trump cabinet is leaving. Fox's Jared Halperin says this time it's due to family illness.

[Jared Halperin]

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

[Daria Albinger]

NEWS Preparations for the Indy 500 race are underway and fans are gearing up for the big day.

[Garrett Tenney]

This isn't just another race. It is the race of the year. 500 mil, three cars going speeds of 240 miles per hour. And here in a bit, I'm gonna get a chance to get a taste of what that's like. But one thing that is going to be different is the crowds. Tomorrow, 350, 000 people will pack into the Indianapolis Speedway in for what is the largest single day sporting event in the world. And people come from around the world to experience it. And for a lot of folks, it's an annual tradition that never gets old.

[Daria Albinger]

That's Fox's Garrett Tenney the Brickyard. An American institution went silent last night. CBS News Radio signed off the air for the final time, ending nearly 100 years of broadcast history. The network pioneered modern journalism. It brought the world into the living rooms during World War II. Anchor Christopher Cruz delivered the final send off, concluding a century of broadcasting with with Edward R. Murrow's iconic phrase, good night and good luck. I'm Dariel. This is FOX.