The high cost of living has Americans angrier than ever. Guardian reporters answered your questions about the US economy ahead of November Sign up for the Stakes newsletter for more midterms coverageSend us your questions on Trump’s immigration agenda ahead of the midtermsLucccA asks: Why are labor unions in the US still not as well-organized compared to the rest of the world? I know there was a push against them in the past—does that still have an effect today? Also, why are there so many right-leaning unions in the US?Michael: A lot of reasons. The US has low union density compared to other wealthy nations, currently at 10.0%, and that has been on a precipitous decline for the past few decades for a variety of reasons that include anti-union and union busting campaigns, outdated labor laws where employers often retaliate for union organizing or delay bargaining for years, as we are seeing with Starbucks, where there is no union contract after nearly five years since the first store won its union election in December 2021.Right to work laws in the US also undermine labor unions and starve them of resources. To the extent that there are right leaning labor unions in the US, they typically are law enforcement unions that consistently endorse and back Republican candidates despite the Republican Party in the US opposing collective bargaining. Some unions like the Teamsters have been making efforts to get Republicans to support legislation and in turn receive endorsements from the union, and this has shown up this election cycle with the Teamsters endorsing Republicans like Congressman Max Miller or Kansas Senator Roger Marshall, who are both facing very competitive re-election battles.Heather: There’s a bunch of ideas floating around on cutting costs for groceries, healthcare and energy bills. A key thing Democrats are promising if they regain power in Congress is to wrestle back authority on trade and repeal Trump’s tariffs, which would lower what it costs compaines to import. A second is to advance a vote to stop the war in Iran, which could calm fuel prices. If Democrats retake the Senate, expect Elizabeth Warren to become chair of the powerful banking committe, and push forward some curbs on private equity investments. And Democrats have been coalescing around more government funding for childcare, a notable move to the left in recent years. Hakeem Jeffries, who will be House Speaker if Democrats win there, is promising to reinstate ACA tax cuts and roll back Medicaid cuts, but the party is divided on Medicare For All, with DSA candidates making promises on the campaign trail and more centrist Dems being pretty quiet.Republicans running for Congress have been talking a lot about ways to lower gas prices, especially suspending the fuel tax, and shaving utility bills by making tech companies and other big users pay more. Some have promised to curb Trump’s tariffs, including Michigan’s Mike Rogers, and others are proposing suspending data center building after public backlash. Continue reading...

15 Oct 2026 17:56 ✍️ RSS THE GUARDIAN

We’d like to hear about whether you feel like the US is in a recession and what you think signals such a downturnNearly two-thirds of Americans think the US is experiencing a recession, according to a new Harris Poll conducted for the Guardian. By the typical definition of a recession – when a country’s economic growth is in the negative for two consecutive quarters – the US is not experiencing one. Still, Americans are facing higher prices and a stagnant job market, which for many feels like a downturn.We want to hear from Americans: do you feel like the US is experiencing a recession? What is your so-called personal “recession indicator”, or a signal in your everyday life that points to an incoming economic slump? It could be seen in your job or at your local grocery store, something you notice at your children’s school or out in your community. Tell us about it below. Continue reading...

15 Oct 2026 16:55 ✍️ RSS THE GUARDIAN

Exclusive: Chancellor to target sector in his first budget, to help offset Iran war’s damage to public finances John Healey is poised to tax Britain’s banks in his 28 October budget, to help offset the damage inflicted on the public finances by war in the Middle East, the Guardian understands.The chancellor is in Bangkok, where the International Monetary Fund has praised the UK’s progress towards balancing the books, urging him to “stay the course”. Continue reading...

15 Oct 2026 16:17 ✍️ RSS THE GUARDIAN

John Healey has spoken to UK journalists at the IMF annual meeting in Bangkok, and said banks are a part of the “jewel” in the UK’s economic crownJohn Healey vows to give ‘breathing space’ to consumers and businesses in first budgetToday’s better-than-forecast UK growth report is good news for chancellor John Healey as he hobnobs with other finance ministers at the IMF meeting in Bangkok.But it may encourage the Bank of England to raise interest rates as soon as its next meeting in November….“While August’s unexpected uptick all but confirms that the OBR will raise its growth forecast for this year from 1.1% to 1.4%, the Chancellor still faces a major Budget headache, as elevated borrowing costs eat into fiscal headroom and increase pressure for tax rises.“These unexpectedly upbeat figures will further embolden hawkish sentiment among policymakers by reinforcing the view that the economy is strong enough to withstand a rate rise, making a November hike look highly likely.”“The latest GDP figures are encouraging, with the economy growing by 0.7% in the three months to August, its strongest growth rate since May. On its current trajectory, the UK is likely to record growth comfortably above 1% this year, which would probably be enough to make it the second-fastest-growing economy in the G7.“The UK’s growth performance has been a bright spot amid a less impressive run of economic news following events in the Middle East. Business investment has been an important driver, particularly spending on ICT hardware, likely linked to the build-out of AI infrastructure. The UK still lags the US in both the scale of that investment and the boost it provides to growth, but it is making progress and remains ahead of many of its European peers. Continue reading...

15 Oct 2026 14:59 ✍️ RSS THE GUARDIAN

Chip makers and tech investors such as Samsung and SoftBank plunge as potential interest rate hikes spook marketsBusiness news – live updatesLarry Elliott: the global economy is muddling through. But a storm is comingAn accelerating sell-off of AI-linked shares has hit global markets, as fears over rising inflation and future interest rate hikes spooked traders already wary of the heavily indebted sector.South Korea’s benchmark Kospi 200 index, which is heavily skewed towards the companies that make memory chips, fell more than 8% overnight to a six-month closing low, triggering circuit breakers that brought trading to a halt at various points. Continue reading...

15 Oct 2026 14:33 ✍️ RSS THE GUARDIAN

Voters’ opposition to the state of Trump’s economy is well established – despite his desperate attempts to deflectTell us: what is your personal ‘recession indicator’?It’s indisputable that the political polarization of our time has reduced (and confused) the influence of economic conditions on US elections.In September of 2024, in the waning weeks of the Joe Biden presidency, 65% of Republicans believed the US economy was getting worse. About six months later, as Donald Trump launched a trade war on the rest of the world with his “liberation day” tariffs, the share of Republican pessimists had dropped to 33%. Continue reading...

15 Oct 2026 12:00 ✍️ RSS THE GUARDIAN

Speaking at IMF meeting, chancellor says he will stick to fiscal rules while recognising business and living costsJohn Healey has promised to use his first budget in a fortnight’s time to offer consumers and businesses a “breathing space” while sticking to Labour’s fiscal rules.Speaking to journalists in Bangkok, where he has been attending the International Monetary Fund annual meetings, the chancellor said he was conscious of rising costs. Continue reading...

15 Oct 2026 11:47 ✍️ RSS THE GUARDIAN