EconomyUnited States
Democrats return to power, but few expect quick relief on prices
Democrats won large majorities as voters worried about the cost of living. Wall Street banks and commentators expect little economic change soon, which matters for household budgets.
Voters' worries about the rising cost of living drove a major political shift. It is likely to give Democrats the biggest swing since Watergate. They gain the largest House majority in nearly four decades. They also hold their biggest Senate edge since 2008.
Donald Trump largely ignored the economy during the campaign. Democrats came to power promising to restore affordability. Voters are angry about pricey gas and groceries, high mortgage costs and unaffordable healthcare.
Eduardo Porter, a journalist who covers economics and politics, argues that Democrats can do little in the next couple of years to ease that stress. Wall Street banks are bracing for political theater in Washington. Few of them expect major change anytime soon.
Who is who
- Donald TrumpUS president
- Eduardo PorterJournalist focused on economics and politics
Background
Democrats campaigned on restoring affordability, but the opening material says they have limited tools to lower prices over the next couple of years.
- Where
- United States
- Published
- Section
- Economy
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