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Chinese Vice Premier Liu He and US Treasury Secretary Janet Yellen. Michael Buholzer / AP  

 

The US-China relationship 

 

Analysis: Trials between the US and China are futile  

 

The cold war between the US and China may intensify as Democrats and Republicans compete for who can have the toughest rhetoric, writes economics professor Nourel Roubini on the debate site Project Syndicate. It seems pointless, according to Roubini, to try to restore trust between the two powers - and now the risk of war in Taiwan is increasing.  

 

Another area of conflict is Panama and the bridges over the canal, writes the FT's Michael Skott. The US built the first and China will build the fourth bridge, where controversy delayed the project for years.  

 

"The former Spanish colony finds itself in a tug-of-war between its old protector and China's growing power," he writes.  

 

Boris Johnson. Alberto Pezzali / AP  

 

British partygate Sources: Johnson's future could be decided within weeks  

 

Former British Prime Minister Boris Johnson's political future could be decided within weeks, sources told The Guardian.  

 

The group of politicians investigating whether Johnson misled MPs about his illegal parties in Downing Street during the corona pandemic is said to be completed on May 23-24, according to the sources. Johnson will then have two weeks to comment on the report before it is made public.  

 

But the process could take longer if the group - where the Conservative Party is in the majority - does not agree on whether Johnson misled parliament or on what sanctions he should receive, the newspaper writes.  

 

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US interest rate hiked – at highest level since 2007  

 

As expected, the Federal Reserve raises the key interest rate by 25 points to a range of 5.0-5.25 percent. In its statement, the Fed writes that it is determined to bring inflation down to its 2 percent target.  

 

It is the first time since 2007 that the interest rate has been raised above 5 percent, writes the New York Times.  

 

The Fed will monitor developments closely. They write that they will continue to slim down the balance sheet and if risks emerge that could threaten the overall goals, they may make adjustments in monetary policy. 

 

 At the same time, the Fed has removed a wording that it sees further tightening measures ahead from the previous protocol. Something CNBC interprets as a signal that an interest rate break can now wait. Fed chief Jerome Powell, on the other hand, says during his speech that a decision on a break has not been taken today.

 

 

Earlier this year, Russia's Ministry of Defense released an image from a naval exercise. AP  

 

NATO: Significant risk of Russian cyber attacks - they have considerable resources  

 

There is a "significant risk" that Russia will target critical infrastructure - such as gas pipelines or key internet cables - in Europe or North America as part of the confrontation with the West over the war in Ukraine. This is stated by David Cattler, NATO's Assistant Secretary General for Intelligence and Security, for Politico. 

 

Cattler warns that the Russian military and intelligence services have "considerable resources" to deploy to monitor the West's infrastructure. The country can use both civilian ships and so-called "spy ships".  

 

- The Russians are more active than we have seen them in several years in this area, he says, adding that Russian ships are also taking "increasing risks".  

 

NATO has increased its patrols in response to the increased threat.