DC Focused on Guns and Abortion While Powell Commits To Inflation Fight

While markets may be agnostic to the issues of abortion and guns, the question for many in the political world is whether or not these two issues will impact the 2022 midterm elections. With President Biden’s popularity near record low levels, Democrats appear headed to substantial losses when Americans go to the polls in November.

The historical trend line is bad even without inflation and other concerns that are on the minds of voters.  The party controlling the White House has lost seats in Congress in 37 of the 40 midterms since the Civil War.  Could 2022 be different? Some political strategists are wondering if the Supreme Court’s decision overturning Roe v Wade will change the political landscape heading into the Fall. The same may also be true for gun legislation after recent mass killings.  This past week Congress passed the first gun control legislation in decades.  In the Senate, led by Leader McConnell, 15 of the 50 Republican Senators supported the measure.  In the House it was more a party line vote, passing on a vote of 234 to 193.  All the House Republican Leaders opposed the bill and only 14 of the over 200 House Republicans voted in support.

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