The candidates who made history in the midterms: the first female governors in Arkansas, Massachusetts, and New York the first Black person to be elected governor of Maryland the nation’s first openly lesbian governor in Massachusetts the first openly LGBTQ person to represent Vermont in Congress the first member of Gen Z to be elected to Congress. Takeaways from the 2022 midterm elections: New York Times / NPR / CNN / NBC News / Politico “And I think it was a good day for America.” ( Politico / Bloomberg / New York Times / Washington Post / NPR / CNN / NBC News / CNBC / Wall Street Journal / MSNBC / ABC News) “It was a good day for democracy,” Biden said. Only three times since World War II has inflation been as high as it is today heading into the midterms, and in all three cases the president’s party lost between 15 and 48 seats in the House. In midterm elections since World War II, the president’s party has almost always lost seats, but Democrats seem to have avoided the so-called “red wave” that some strategists predicted was going to be fueled by record inflation and economic woes. In the House, Republicans are expected to win the five seats they needed to take control, but a large number of the most competitive races remain uncalled. Democrats currently control 48 seats to the Republicans 49, meaning whoever wins two of the three elections in Arizona, Georgia, and Nevada will control the Senate. In the Senate, Democrat John Fetterman flipped a key seat in Pennsylvania, while Republican Ron Johnson secured reelection in Wisconsin. Republicans, however, are still poised to win a narrow majority in one if not both houses of Congress. In a legal brief, the IRS and Treasury said Trump’s request for the delay “cannot satisfy the demanding standard for that extraordinary relief.” The committee, which has been seeking the documents since 2019, told the court that further delays would leave the committee “little or no time to complete their legislative work during this Congress, which is quickly approaching its end.” ( Bloomberg / CNBC)ġ/ Senate control hinges on three states, while Republicans have picked up fewer seats than predicted in the House. Nine days ago, Chief Justice John Roberts temporarily blocked the IRS from transferring six years of Trump’s returns to the House Ways and Means Committee while the court considered Trump’s request for a longer delay. ( National Association of Realtors / Wall Street Journal / CNN / The Hill)Ĥ/ The IRS urged the Supreme Court to allow the release of Trump’s tax returns to a House committee. A year ago, the 30-year fixed rate stood at 2.98%. The 30-year fixed-rate mortgage averaged 7.08% last week. Home sales, however, have dropped for eight straight months through September. Median prices were up 10% or more in 46% of cities. Nationwide, prices for an existing, median single-family home rose by 8.6% from last year to $398,500. ( Wall Street Journal / Bloomberg / New York Times / Washington Post / CNBC / Politico / CBS News / ABC News)ģ/ Home prices rose in 98% of metro markets from July through September despite mortgage rates rising to their highest level in 20 years. The inflation report leaves the Federal Reserve on track to raise rates by 0.50 percentage points in December after four consecutive hikes of 0.75 percentage points. While that’s the lowest rate of inflation since January, inflation remains near a 40-year high and well above the Fed’s 2% target. ( New York Times / Associated Press / Wall Street Journal / Politico / NPR / Washington Post)Ģ/ The consumer price index increased 7.7% from a year ago – down from 8.2% in September and June’s 9.1% rate. Meanwhile, at a Democratic National Committee event, Biden said that, nationally, there were “a lot of concerns about whether democracy would meet the test.” He added: “It did.” Trump’s allies, meanwhile, are pushing him to delay his planned presidential announcement, while Paul Ryan called Trump “a drag on our ticket.” Trump, however, claims he’s “not at all angry” about the midterms. Some analysts say they expect the outstanding vote in both of those races to favor the Democratic candidates. Democrats currently have a slight lead in Arizona, while Republicans maintain a slim advantage in Nevada. Meanwhile, three Senate races remain uncalled: Arizona, Nevada and Georgia, which is headed for a Dec. Republicans are on track to take a narrow House majority, needing 9 more seats with 37 more races still up for grabs. 1/ Control of Congress continues to hang in the balance two days after the 2022 midterm elections.
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