Politics

Democrats Gain Control of Congress Amid Economic Concerns in 2026 Midterms

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Democrats Gain Control of Congress Amid Economic Concerns in 2026 Midterms
Photo: Beyond their political implications, the results raise important questions about the future direction of the world’s largest economy, particularly as American households grapple with rising living costs, persistent inflation and high borrowing expenses. |

The 2026 U.S. midterm elections resulted in a significant political setback for President Donald Trump, as Democrats won control of both the House of Representatives and the Senate. The outcome also raises questions about the future direction of the world’s largest economy, especially as American households face rising living costs, persistent inflation and high borrowing expenses. The election highlighted a contradiction in the U.S. economy: real GDP grew at an annualised rate of 3.4% in Q3 2026, yet many people remain dissatisfied with their financial circumstances. Inflation accelerated to 3.7% in September, up from 3.4% in August, largely driven by rising energy costs. Fuel oil prices surged 74.2%, compared with 52% previously, adding to household financial pressures. Published - November 05, 2026 05:17 am IST

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