La economía da un respiro a Trump a un mes de las elecciones 'midterms'

In the wake of the recent midterm elections, President Trump finds a reprieve one month later, as recent macroeconomic indicators have provided a boost to the Republican party. While Trump's name does not appear on the ballots for the midterms, where all members of Congress and one-third of the Senate are up for renewal, his economic policies have become a significant burden for his party's candidates.

Following a recent increase in interest rates by the Federal Reserve to the range of 3.75%-4%, and the energy crisis caused by the closure of the Strait of Hormuz, consumer confidence in the United States has reached its lowest levels in the past 12 years.

However, Republicans have received a sigh of relief with the release of better-than-expected macroeconomic data. The Department of Commerce has revised its estimate of GDP growth for the second quarter of the year, increasing the growth rate from 1.5% to 2.2%. This growth is attributed to more robust data on investment, consumer spending, and government expenditures.

Additionally, the Personal Consumption Expenditures (PCE) index rose by 3.4% year-over-year in August, lower than the 3.7% expected by economists, which reduces the likelihood of further interest rate hikes by the Federal Reserve. Lastly, the private sector added 90,000 new jobs in September, the first significant increase since May.

Despite these positive indicators, it is essential to note that fuel prices remain at record highs and the cost of public debt has reached a two-decade high.