PGIM’s Singh: US Midterm Results Weaken President’s Influence

The notable claim here is that the Fed, not the White House or Congress, emerges as the actor best positioned to respond to voter frustration over living costs — a striking shift in where economic authority is seen to sit. That matters for anyone mapping policy risk, since it implies markets may look to monetary signals rather than fiscal ones for direction. Whether that framing holds as the new Congress takes shape is the open question worth watching.