The two major factors shaping the 2022 midterm elections collided in tumultuous fashion on Tuesday morning.
First came the government report that inflation last month had increased faster than economists had expected or President Joe Biden had hoped. The announcement triggered a sharp fall in the stock market, the worst day on Wall Street in two years. That same afternoon, Senator Lindsey Graham of South Carolina introduced legislation that would impose a nationwide ban on abortion after 15 weeks of pregnancy.
The inflation report captured this year’s most powerful tailwind for Republicans: widespread dissatisfaction with Biden’s management of the economy. Graham’s announcement captured this year’s strongest Democratic tailwind: widespread unease about abortion rights.
The shift in the campaign debate away from Biden’s management of the economy and toward the GOP’s priorities on abortion and other issues has been the principal factor improving Democratic prospects since earlier this summer. But the unexpectedly pessimistic inflation report—which showed soaring grocery and housing bills overshadowing a steady decline in gasoline prices—was a pointed reminder that the economy remains a formidable threat to Democrats in November. CONTINUED
Ronald Brownstein, The Atlantic
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