Washington Watch: Here’s what the midterm elections could mean for the financial sector, energy, healthcare and more

by | Nov 8, 2022 | Stock Market

One poll last month found record interest in the 2022 midterm elections, which are now upon us. Analysts focused on key sectors are among those paying close attention to the midterms, as Democrats are expected to lose control of at least one chamber of Congress after spending two years in charge of both chambers as well as the White House.

Below are some forecasts from these analysts for what a divided Washington could mean for the energy industry
the financial sector
cannabis players
and tech
Betting market Predictit currently gives about a 90% chance for Republicans winning the House and over a 70% chance for the GOP getting control of the Senate. Republican campaigns have seized on raging inflation, including elevated prices for gasoline
and other fuels, while Democrats have focused on issues such as abortion rights.Financial sector: bank mergers, a market rally Banks
have “only modest policy exposure to the midterms because President Biden already has confirmed the top financial regulators,” said Jaret Seiberg, an analyst at Cowen Washington Research Group, in a note Wednesday. However, there still could be some impact, such as a possible rise in mergers and acquisitions among regional banks
“Republican control of the House should be a positive for regional bank mergers. A GOP chair of House Financial Services will give Republicans the ability to provide political cover for regulators to approve mergers,” …

Article Attribution | Read More at Article Source

Share This