President Joe Biden has said that the three aerial objects that the U.S. military shot down in North American air space earlier this month were not related to China's spy balloon program or surveillance vehicles from any other country.
Speaking on the basis of an interagency review process held last week regarding the aerial objects at the White House, Biden said the intelligence community's current assessment is that they were most likely balloons tied to private companies, recreation, or research institutions studying weather or conducting other scientific research.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.