Warsh sworn in as Fed Chair; Rubio signs Arctic security pact and a U.S.–Sweden tech deal.
The week's headlines belong to the Quad in India; today Rubio is in Sweden, signing an eight-nation Arctic security accord and a U.S.–Sweden technology pact before flying east. In Washington, a new Federal Reserve chair takes the oath: the rates room is now Warsh's.
Day 85 · Iran war Year 5 · Ukraine war
Events
- Warsh takes the Fed. Kevin Warsh sworn in as chairman of the Federal Reserve; the Federal Open Market Committee unanimously selected him chairman the same day. His term as chair runs to May 21, 2030; his Board seat to 2040.1May 22 · Fed. Res.
- Arctic security pact. The State Department joined Canada, Denmark (with Greenland and the Faroe Islands), Finland, Iceland, Norway, and Sweden in an eight-nation accord to deepen military presence and surveillance in the High North, citing Russia's expanded activity and China's growing strategic interest.2May 22 · State
- U.S.–Sweden tech deal. Rubio and Foreign Minister Malmer Stenergard signed a Technology Prosperity Deal in Helsingborg covering AI, biotech, quantum, 5G/6G, space, and trans-Arctic subsea cables; Sweden was the first signatory of the U.S.-led Pax Silica critical-minerals initiative.3May 22 · State
Voices
“It's not acceptable that freedom of navigation is basically trampled upon as it is at the moment.”
NATO Sec. Gen. Mark Rutte, Helsingborg · May 224
“With Russia's increased military activity and China's growing strategic interest, we seek to bolster stability in the Arctic region.”
Joint Statement, Arctic Allies · May 222
“The energy sources that perform when you need them most are inherently the most valuable—that's why natural gas and oil were valuable during peak capacity events this past year.”
Energy Sec. Chris Wright · May 218
Show 3 more voices
“We are in the middle of a generational shift in how we employ air and spacepower.”
Air Force Sec. Troy Meink, FY27 budget testimony · May 206
“Whether it's AI, connectivity, defense innovation, or space, we are stronger when we work together.”
Swedish FM Maria Malmer Stenergard, Helsingborg · May 223
“The Department of Justice will continue expanding our reach across the country to pursue all fraud, no matter how large, no matter how small, no matter how hard.”
Acting AAG Colin M. McDonald, DOJ Fraud Division · May 227
Show 6 more events
- NATO Helsingborg. Rubio met Secretary General Rutte alongside NATO foreign ministers preparing the July Ankara Summit; agenda included a path to 5% defense spending, European-funded Patriot interceptors for Ukraine, and Strait of Hormuz freedom of navigation.4May 22 · State
- Tanzania police sanction. State Department blacklisted Tanzanian Police Senior Assistant Commissioner Faustine Jackson Mafwele from entering the U.S. for the 2025 detention, torture, and sexual assault of Ugandan and Kenyan opposition observers in Dar es Salaam.5May 21 · State
- Air Force 2027 budget. Department of the Air Force asked Congress for $338.8 billion in fiscal 2027 — $267.7B for the Air Force, $71.1B for the Space Force — a $92.5B jump pitched as readiness recovery and accelerated modernization.6May 20 · Air Force
- DOJ fraud sweep. Justice Department charged 15 defendants in $90M of Minnesota Medicaid schemes, sentenced a Brooklyn defendant to ten years for a $2B international telemedicine conspiracy, and authorized 15 new Medicaid prosecutors nationwide.7May 22 · DOJ
- Mid-Atlantic grid. Energy Secretary Wright issued back-to-back emergency orders keeping Constellation's Eddystone units in Pennsylvania and Talen's Wagner station in Maryland running through summer; PJM serves 65 million customers across 13 states and D.C.8May 21 · DOE
- Drupal flaw exploited. CISA added a Drupal Core SQL-injection vulnerability (CVE-2026-9082) to its actively-exploited-flaws catalog; federal civilian agencies must patch by the binding deadline.9May 22 · CISA
Allied Governments
- UK satellite shield. UK Ministry of Defence's Borealis space-awareness software went operational six months early, fed by the new Noctis-1 telescope; tracks adversary satellites and debris and defends SKYNET military communications.aMay 21 · UK MoD
- Japan–Iran call. Japan's Foreign Minister Motegi pressed Iran's Araghchi on maintaining the ceasefire and reopening the Strait of Hormuz to passage of all vessels, including Japan-related shipping; both confirmed continued communication as U.S.–Iran talks remain stalled.bMay 22 · Japan MoFA
This week
U.S. tables UN draft to end Iran’s Hormuz mining; Castro indicted for 1996 shootdown.
The U.S. tabled a Security Council resolution to end Iran’s mining of the Strait of Hormuz, the first multilateral track on a war now in its 85th day. The Justice Department unsealed a 30-year-old indictment charging Raúl Castro with murder for the 1996 shoot-down of two American civilian planes — th…
Read the full digest →Sources
- Federal Reserve, “Kevin Warsh takes oath of office as chairman and a member of the Board of Governors of the Federal Reserve System, and the Federal Open Market Committee unanimously selects Warsh as its chairman,” May 22, 2026. federalreserve.gov/…/warsh-oath-fomc-chair
- U.S. Dept. of State, “Joint Statement on Arctic Security from the Arctic Allies — Canada, Kingdom of Denmark including Greenland and the Faroe Islands, Finland, Iceland, Norway, Sweden, and the United States of America,” May 22, 2026. state.gov/releases/…/arctic-allies-joint-statement
- U.S. Dept. of State, “Secretary of State Marco Rubio and Swedish Foreign Minister Maria Malmer Stenergard at the United States-Sweden Technology Prosperity Deal Signing Ceremony,” May 22, 2026. state.gov/releases/…/us-sweden-tech-prosperity-deal
- U.S. Dept. of State, “Secretary of State Marco Rubio and NATO Secretary General Mark Rutte After Their Meeting,” May 22, 2026. state.gov/releases/…/rubio-rutte-helsingborg
- U.S. Dept. of State, “Designation of Tanzanian Police Force Official for Involvement in Gross Violations of Human Rights,” May 21, 2026. state.gov/releases/…/tanzanian-police-designation
- U.S. Air Force, “DAF leaders outline readiness, modernization priorities in FY27 budget testimony,” May 21, 2026. af.mil/…/daf-fy27-budget-testimony
- U.S. Dept. of Justice, “This Week in Fraud: Midwest Task Force Expansion, 15 New Medicaid Prosecutors, Minnesota Health Care Fraud Takedown, $2 Billion Telemedicine Scheme,” May 22, 2026. justice.gov/opa/pr/…/this-week-in-fraud
- U.S. Dept. of Energy, “Energy Secretary Keeps Critical Generation Online in Mid-Atlantic” (Eddystone emergency order; companion Wagner order, “Strengthens Mid-Atlantic Grid Reliability,” issued the same day), May 21, 2026. energy.gov/articles/…/mid-atlantic-eddystone
- CISA, “CISA Adds One Known Exploited Vulnerability to Catalog” (CVE-2026-9082, Drupal Core SQL Injection), May 22, 2026. cisa.gov/news-events/…/kev-cve-2026-9082