Memo From the Chief Economist

Memo From the Chief Economist

Midterm Results: Singing the Blues

A blue wave hits Washington, putting Tech and crypto in the crosshairs, but Wall Street still marches to the beat of oil, rates, and AI debt.

Nov 04, 2026
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Key Takeaways:

  • A Democratic wave has returned Washington to an era of divided government. Substantial majorities in both chambers of Congress give Democrats leverage over budget negotiations and raise the prospect of fiscal restraint.

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