U.S. economists expect a Department of Commerce report released on Thursday, Oct. 29, to show gross domestic product (GDP) growth during the summer, though analyst Mark Zandi described the expansion as fragile due to inflation. Simultaneously, Israel's national election has reached a deadlock with 90% of votes counted, as neither Prime Minister Benjamin Netanyahu nor his primary challenger Gadi Eisenkot has secured the 61-seat majority required to form a coalition government.
These economic and international developments occur as the U.S. approaches midterm elections. Polling from NPR/PBS News/Marist showed Democrats with an eight-point lead on the congressional ballot, though analysts noted that lower enthusiasm among independent and young voters remains a factor. In Georgia, former President Barack Obama campaigned on Wednesday for Democratic candidates, focusing on the cost of living, while Republicans are expected to rely on a large Election Day turnout to counter early voting trends.
In legal developments, a federal judge denied a Department of Justice request to stop the processing of ballots for 20,000 individuals in California identified as likely noncitizens, a decision the department is appealing. Additionally, the nonprofit Student Defense filed a lawsuit against the Department of Education on Wednesday, alleging the agency is failing to follow "closed school discharge" rules, which require the cancellation of federal student debt when colleges close unexpectedly. The Education Department stated it stands by its implementation of the program.
For the broader public, the Commerce Department's inflation reading follows a September report showing consumer prices rose 3.7% year-over-year. This price increase, which is outpacing wage growth, affects household budgets. The Federal Reserve, which held interest rates steady on Wednesday, uses this data to determine future rate moves.
In the electoral sphere, the 20,000 California voters identified by the DOJ face uncertainty regarding whether their ballots will be counted as the legal appeal moves forward. Nationally, more than 19 million Americans have already participated in early voting for the midterms, where voters will also decide on 145 statewide ballot measures concerning abortion, taxes, and LGBTQ+ rights. The final composition of the Israeli government remains unknown, with potential outcomes ranging from a unity government to a repeat election if the current impasse between Netanyahu's 53-seat bloc and Eisenkot's 48-seat bloc cannot be resolved through partnerships with Arab-led parties.