Busy for markets as investors look to midterm elections to determine who wins control of Congress, as well as key economic data that could indicate whether the US is headed for recession It’s going to be a week.
Here are three stories to watch as business and politics intersect in November.
midterm elections
According to CNN, there are only eight days left until the midterm elections, but polls suggest the race in key battleground states has already received more than 20 million votes.
With the Senate overheated, Republicans are marginally supportive of regaining control of the House.
That said, a New York Times/Siena poll released Monday showed Democrats slightly ahead in four Senate swing states. In Pennsylvania, John Fetterman (Democrat) leads Memet Oz (Republican) with his 49% to 44%. In Georgia, Democrats rose his 3 points, with Senator Raphael Warnock (D) leading Herschel Walker (R) 49% to 46%. In Nevada, Senators Katherine Cortez Masto (Democrat) and Senator Adam Laxalt (Republican) are tied at 47% of hers, a deadlock.
Last weekend, President Biden launched his campaign in Pennsylvania to try to back Democratic Senator John Fetterman following the latest debate against Republican challenger Dr. Mehmet Oz. Meanwhile, former President Barack Obama campaigned in Georgia for Democratic Senate candidate Rafael Warnock, who is trying to beat Republican candidate Herschel Walker.
Biden wants to be able to choose this election in states like Georgia and Nevada, which he held against Trump in 2020. recession next year.
American political violence
Security has become a top priority ahead of the midterm elections, especially after House Speaker Nancy Pelosi’s (D-CA) husband Paul Pelosi was attacked at the couple’s San Francisco home last week. The attacker, Paul DePape, is due to be arraigned later this week on multiple charges, including attempted murder.
Lawmakers are calling for de-escalation of political rhetoric, and some are calling on Congress to address ways to better protect lawmakers and their families. Senator Amy Klobuchar (D-Minnesota) said the safety of top congressional leaders and their families “should be a strong consideration.”
“There are different levels of protection,” Klobuchar told NBC’s Meet the Press. “It doesn’t have to be total protection like you see with people in the line of succession to the presidency. But it certainly requires a different level of threat for members to be protected. It could be the local police.” No, maybe funding for the Marshal, so that’s part of it.”
Federal Reserve Board
Investors are expected to hear from Federal Reserve Chairman Jerome Powell on Wednesday whether the central bank will raise rates again in November. The FOMC’s latest policy decision comes as the Fed continues to grapple with record-high inflation and concerns that the economy is headed for recession.
And on Friday, the Labor Department will release its October employment report. Economists expect the US economy added her 190,000 jobs that month, according to Bloomberg consensus estimates. The unemployment rate was 3.5% in September, and many investors are watching for signs of deterioration in the labor market.
– Kevin Cirilli is a Visiting Media Fellow of the Atlantic Council’s Global China Hub and Purdue’s Krach Institute for Tech Diplomacy.follow him LinkedIn.
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