Trump Administration Sees Threat in Growing Foreign Spy Bases in Cuba

Summary

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WSJ What’s News – May 22, 2026

Episode Theme:
This episode examines significant political, security, and economic developments, focusing especially on rising concerns in the Trump administration over the expansion of Russian and Chinese intelligence operations in Cuba. The program also covers changes in U.S. immigration policy, market updates, a derailed beauty industry merger, and the impact of high prices on Memorial Day plans.

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Key Discussion Points and Insights

1. Swearing-In of New Federal Reserve Chair, Kevin Warsh

(00:50 – 02:30)

• Kevin Warsh was sworn in as the new chair of the Federal Reserve at the White House, the first such ceremony since 1987.
• President Trump emphasized the importance of Fed independence:

  "I want Kevin to be totally independent. I want him to be independent and just do a great job. Don't look at me...just do your own thing." (02:06 - Trump)

• In contrast, Trump also expressed his preference for continued economic growth without concern for inflation:

  “We want to stop inflation, but we don’t want to stop greatness.” (02:26 - Trump)

• Current economic challenges: rising inflation, with speculation that the Fed could raise interest rates, not lower them as Trump had hoped.

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2. National Security Shakeup: Tulsi Gabbard Resigns

(02:30 – 03:29)

• Director of National Intelligence Tulsi Gabbard is resigning due to her husband’s bone cancer; her departure adds to a growing list of high-profile resignations from the Trump administration.
• Other notable departures recently include DHS Secretary Kristi Noem, Attorney General Pam Bondi, Labor Secretary Lori Chavez De Reimer, and FDA head Marty McCary.
• Gabbard’s tenure described as “tumultuous,” having been sidelined from major foreign policy issues.

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3. Escalating Tensions: Foreign Spy Bases in Cuba

(03:29 – 05:52)

• U.S. intelligence reports indicate Russia and China have significantly expanded their eavesdropping facilities in Cuba.
• Reporter Alex Ward explains that the upgrades potentially allow greater surveillance of U.S. Southern and Central Command—both based in Florida.

  "It matters in large part because it shows that the Chinese and the Russians are investing more in that capability, and that could give them a greater shot at collecting information... from U.S. southern Command and U.S. central Command." (04:17 - Ward) “There’s no question that the cooperation between the Cubans, the Chinese and Russians would be part of the explanation... for why they continue to be tough on Cuba and may order a military intervention.” (05:15 - Ward)

• U.S. Policy Response: CIA Director Ratcliffe visited Cuba demanding reforms and severing of ties with China/Russia.
• Official responses:
  • China: Relationship with Cuba “already out in the open.”
  • Russia: Denounced U.S. policy as hostile.
  • Cuba: Denies acting as an enemy base or threat.

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4. New U.S. Immigration Restrictions

(06:00 – 06:52)

• The administration rolled out new policies requiring most green card applicants to apply from overseas.
• Impacts:
  • Increased risk for those residing illegally and legal professionals that their re-entry will be denied.
  • Process could become significantly lengthier.
• Changes affect both unauthorized immigrants and skilled foreign workers.

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5. Business Markets & Corporate News

(07:23 – 08:47)

• Estee Lauder and Spanish company Puig called off a multi-billion dollar merger, primarily over buyout demands from makeup artist Charlotte Tilbury.

  “Tilbury’s demands would have materially affected the transaction’s economics.” (07:23 - Osola)

• Markets:
  • AI optimism and strong tech sector performance driving record highs in the Dow and S&P.

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6. Ebola Outbreak in Central Africa

(08:47 – 11:03)

• Deadly Ebola outbreak in the DRC and Uganda is now the third largest in history.
• Betsy McKay reports the outbreak is difficult to control due to volatility in the region and a rare, less-lethal strain of the virus.

  "This virus spread undetected for weeks… there are many… who just haven’t been detected." (08:47 - McKay)

• The Trump administration paused visas for travelers from affected African nations.
• U.S. CDC: Risk to Americans is low due to specialized treatment centers and low communicability.

  “Ebola, as deadly as it is, is not really hugely contagious compared to Covid or the flu. It's not airborne… You really need to touch their bodily fluids.” (10:22 - McKay)

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7. The Cost of Memorial Day

(11:10 – 12:20)

• Rising prices for food and gasoline are forcing Americans to scale back on traditional Memorial Day weekend festivities.

• Dalvin Brown shares personal stories of families downsizing celebrations or staying home:

    > “She saw the price of ground beef and was like, I cannot buy that beef for 30 people. Instead, she's now just going to cook hot dogs…” *(11:31 - Brown)*
  

  • Others are declining to travel, preferring backyard gatherings with food from their own gardens.

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Notable Quotes & Memorable Moments

• Trump on Fed Independence vs. Economic Growth:
  “I want Kevin to be totally independent. I want him to be independent and just do a great job. Don't look at me, don't look at anybody. Just do your own thing and do a great job.” (02:06)
  “We want to stop inflation, but we don’t want to stop greatness.” (02:26)

• Alex Ward on Spy Base Expansion:
  “It matters...because it shows that the Chinese and the Russians are investing more in that capability, and that could give them a greater shot at collecting information... from U.S. southern Command and U.S. central Command...” (04:17)

• Betsy McKay on Ebola Threat:
  “This virus spread undetected for weeks… there are many, many people who have had Ebola or been exposed to it or are developing symptoms now who just haven't been detected.” (08:47)
  “Ebola, as deadly as it is, is not really hugely contagious compared to Covid or the flu. It's not airborne… You really need to touch their bodily fluids.” (10:22)

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Important Segment Timestamps

• [00:50] – Kevin Warsh sworn in as Fed Chair
• [02:30] – Tulsi Gabbard resignation
• [03:29] – U.S. intelligence on expanded Russian/Chinese spy bases in Cuba
• [05:15] – U.S. policy response and potential sanctions/interventions
• [06:00] – Major change in green card policy
• [07:23] – Collapse of Estee Lauder—Puig merger
• [08:47] – Ebola outbreak updates (with Betsy McKay)
• [11:10] – Memorial Day price strain stories

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Tone and Language

The episode maintains the crisp, analytical tone of The Wall Street Journal, focusing on the direct implications of policy and market developments, balanced by human-interest insights (such as the Memorial Day segment). Quotes and explanations are factual, informative, and delivered with a sense of urgency regarding national security and public health.

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For anyone who missed the episode, this summary provides a comprehensive look at the day’s top headlines, in-depth coverage of security threats from Cuba, a breakdown of fresh policy moves, and a taste of how broad issues are affecting everyday Americans.

Transcript

[President Donald Trump]

So good, so good, so good.

[Alex Osola]

Everything you want for summer is at Nordstrom Rack stores now and up to 60% off. Stock up and save on the brands you love, like Vince, Sam, Edelman, Frame and Free People. Join the NordicLub to unlock exclusive discounts. Shop new arrivals first and more. Plus, buy online and pick up at your favorite Rack store for free. Great brands, great prices. That's why you rack. Kevin Warsh is sworn in as the new chair of the Federal Reserve. Plus, U.S. intel warns that Russia and China are using Cuba to increase their spying on the U.S. there's no question

[Alex Ward]

that the cooperation between the Cubans, the Chinese and Russians would be part of the explanation of the American people for why they continue to be tough on Cuba.

[Alex Osola]

And Tulsi Gabbard becomes the latest Trump administration official to leave her post. It's Friday, May 22nd. I'm Alex Osolle, left, for the Wall Street Journal. This is the PM edition of what's news, the top headlines and business stories that move the world today. Kevin Warsh was sworn in today as the new chair of the Federal Reserve. The ceremony was at the White House, making war the first Fed chair to take the oath there in decades. The last one was Alan Greenspan. In 1987. Supreme Court Justice Clarence Thomas administered the oath.

[Dalvin Brown]

And that I will well and faithfully discharge.

[Alex Ward]

And that I will well and faithfully

[Dalvin Brown]

discharge the duties of the office on which I'm about to enter.

[Alex Ward]

The duties of the office upon which

[Dalvin Brown]

I'm about to enter. So help me God.

[Alex Ward]

So help me God.

[Alex Osola]

Warsh is taking the top spot at the central bank during a difficult economic moment. Inflation is rising. A growing number of investors say the Fed's next move could be a rate increase, not the cut that President Trump wanted and that Warsh was hired to deliver. Trump today stressed that the Fed should operate free from political influence.

[President Donald Trump]

I want Kevin to be totally independent. I want him to be independent and just do a great job. Don't look at me, don't look at anybody. Just do your own thing and do a great job.

[Alex Osola]

But then, moments later, he laid out the view he wants Warsh to take that a booming economy doesn't need to be reined in and that strong growth doesn't cost cause inflation.

[President Donald Trump]

We want to stop inflation, but we don't want to stop greatness.

[Alex Osola]

Separately, one of President Trump's cabinet members is leaving the administration. Director of National Intelligence Tulsi Gabbard. In a letter to Trump later posted on social media, Gabbard says she's resigning because her husband has bone cancer. Her Last day is June 30th. Her departure caps a tumultuous tenure. She was largely sidelined from President Trump's national security operations in including those in Venezuela and Iran. She's the latest high profile departure from the administration. The list includes Homeland Security Secretary Christy Noem, Attorney General Pam Bondi, Labor Secretary Lori Chavez, De Reimer, and the head of the FDA, Marty McCary. Gabbard's deputy Aaron Lucas will serve as the acting National Intelligence Director. Turning to conflicts overseas in the Middle east, mediators have been racing to make a deal that would bridge gaps between the US And Iran. Pakistan and other regional countries involved in talks are trying to head off US And Israeli strikes on Iran. Middle east officials say that without a diplomatic breakthrough, strikes could happen within days. Strikes would aim at economic targets like energy infrastructure. They're intended to pressure Iran into a deal. Iran has warned it would retaliate after an attack. In an exclusive, the Journal has learned that Russia and China have in recent years expanded their intelligence operations in Cuba. They've invested in electronic eavesdropping facilities used to spy on US Military sites in Florida. The intelligence assessment comes at a time when the Trump administration has declared Cuba, quote, an unusual and extraordinary threat to US national security. WSJ national security reporter Alex Ward joins me now from Washington. Alex, Chinese and Russian presence in Cuba isn't exactly new. The Journal has reported on this before. How significant is this increase that we just learned about?

[Alex Ward]

It matters in large part because it shows that the Chinese and the Russians are investing more in that capability, and that could give them a greater shot at collecting information and mostly unclassified communications from U.S. southern Command and U.S. central Command, which are based in Florida. We should also note that, of course, President Trump has some personal properties in Florida, though no indication necessarily that they're picking up stuff from there. And while Washington is known for a while that the Chinese and Russians have set up these sites in Cuba, that the fact that they're expanding them and improving them and sending more personnel just sort of fuels the Trump administration's public case for potentially dislodging the regime in Havana.

[Alex Osola]

What do all of the countries involved here say about this reporting?

[Alex Ward]

When we spoke to the Chinese embassy, they were like, effectively, hey, the Chinese Cuban relationship is already out in the open. The Russians have denounced the US Tough

[Alex Osola]

stance towards Cuba, and Cuban officials deny that the island serves as a base for American enemies or threatens the U.S. so where does the U.S. go from here?

[Alex Ward]

I mean, CIA Director John Ratcliffe last week went down to Cuba and was basically like, hey guys, work with us. Change your regime, change your economy, do a bunch of reforms, sever the ties with the Chinese and Russians or else. So does that mean more sanctions? Does that mean an attack down the line? I have no indications of an imminent attack on Cuba, although we have seen the Trump administration be somewhat blunt about that point. There's no question that the cooperation between the Cubans, the Chinese and Russians would be part of the explanation to the American people for why they continue to be tough on Cuba and may order a military intervention.

[Alex Osola]

That was WSJ national Security reporter Alex Ward. Thanks, Alex.

[Alex Ward]

Thanks for having me

[Alex Osola]

at home. The Trump administration has announced a new policy on green cards, its latest attempt to tighten the screws on legal forms of immigration. Previously, most people applied for green cards within the U.S. now most will have to apply for permanent residency overseas at a U.S. consulate. Leaving the country means they risk losing whatever legal status they held, and it could mean they can't return to the US it also could mean a much longer process to get residency. The change will have a big impact on immigrants who are in the US Illegally, but it will also affect foreign professionals sponsored by U.S. companies. Coming up, the latest on the Ebola outbreak, the celebrity makeup artist who derailed a beauty merger, and how some people are changing their long weekend plans because of high prices. Those stories and more after the break.

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[Alex Osola]

A multi billion dollar deal between Estee Lauder and Spanish beauty company Pooch has fallen apart. The Journal has learned that one big reason was celebrity makeup artist Charlotte Tilbury. Pooch has a controlling stake in her cosmetics company, also called Charlotte Tilbury. People familiar with the matter said that Tilbury was trying to negotiate her buyout. It became an issue for both Estee Lauder and Pooch because Tilbury's demands would have materially affected the transaction's economics. Tilbury couldn't be reached for comment. The two companies said they had called off their discussions. In markets, optimism about AI and tech stocks drove investors. The Dow led the gains. The index rose 0.6% and closed at a record its ninth record high of the year. And the S and P climbed for its eighth straight week. Heads up that we dropped a special bonus episode earlier today. In the latest what's NEWS and Earnings, we look at Nvidia's blistering growth in its latest quarter and the growing competition that it faces. That's in your what's NEWS feed now. An Ebola outbreak in the Democratic Republic of the Congo and Uganda is already the third largest in history. The World Health Organization reported this morning that there are 750 suspected cases and 177 suspected deaths in the DRC from the disease. Betsy McKay covers public health for the Journal, and it's here now with more. Betsy, is Ebola spreading quickly?

[President Donald Trump]

It is spreading, but the other probably bigger issue is that this virus spread undetected for weeks. So there are many, many people who have had Ebola or been exposed to it or are developing symptoms now who just haven't been detected.

[Alex Osola]

I'm reminded of the last big ebola outbreak in 2014. How does this outbreak differ? Like, is the virus itself different?

[President Donald Trump]

There are a lot of things that are different. First, the area is actually much more volatile. This is an area full of displaced people. It's an area full of mining, so lots of traffic in and out. The other big difference is this one is caused by a rare strain. It's only been seen in two outbreaks before. It does appear to be less deadly than the Zaire Ebola virus that caused the West African epidemics.

[Alex Osola]

The World Health Organization this past weekend declared the outbreak a global health emergency. What has been the response to the outbreak from the Trump administration and from other global officials?

[President Donald Trump]

The Trump administration has said that it has deployed responders to the area from the CDC and others who are experts in containing outbreaks. The WHO also has really dug in. The problem is that it's also really hard under the current conditions to get aid to the country.

[Alex Osola]

And we should note that the Journal exclusively reported this afternoon that the Trump administration is pausing visas for travelers who have been to African countries affected by the outbreak. Betsy, how big a threat is ebola

[President Donald Trump]

to the U.S. the CDC says the risk is low. And the U.S. has this whole network of specialized treatment centers. If somebody were to get sick, they would be sent to one of those centers and isolated. And Ebola, as deadly as it is, is not really hugely contagious compared to Covid or the flu. It's not airborne. You can't get it just from standing next to somebody with Ebola. You really need to touch their bodily fluids. There is some concern about people coming into this country because we're about to host World cup events. But those are the reasons that screening measures have been put into place.

[Alex Osola]

WSJ Senior writer Betsy McKay, thank you so much for the update.

[President Donald Trump]

Thank you.

[Alex Osola]

And finally, it's Friday evening and the start of Memorial Day weekend, the unofficial start of summer. But this year, people who usually cook out or go out are finding they're gonna have to shell out. I'm curious to hear what other people's plans are because I haven't gotten any invites to Memorial Day cookouts this year. Hmm. Personal finance reporter Dalvin Brown heard all about it.

[Dalvin Brown]

So I spoke to one person who hoped to have 30 people over and she had a new barbecue grill that she got as a wedding gift and could not wait to celebrate with everyone. And then she saw the price of ground beef and was like, I cannot buy that beef for 30 people. Instead, she's now just going to cook hot dogs and she's going to ask her guests to each bring a dish. And I spoke to another family who would typically go on a road trip to see the in laws and because of the price of gas and the cost of groceries, they're just going to stay home and pluck stuff from the garden. And there was another person who hoped to get invited to a couple of barbecues. And he said this year no one's having them. He hasn't gotten a single invite, so he's staying home as well.

[Alex Osola]

And that's what's news for this week. Tomorrow you can look out for our weekly Markets wrap up. What's news in markets? We'll be off on Sunday and Monday for Memorial Day and we'll be back with our regular show on Tuesday morning. Today's show was produced by Danny Lewis and Alexis Moore with supervising producer Tali Arbell. Michael Lavall wrote our theme music. Aishael Muslim is our development producer. Chris Zinsley is our deputy editor. And I'm Alex Osola. Have a great weekend and thanks for listening.

[Dalvin Brown]

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