- 08 June 2026
The US-Iran conflict has abruptly moved stagflation from a tail risk to a live risk that could undermine the growth momentum observed at the start of the year.
Midterm elections could shift the balance of power in Congress, limiting the Biden administration's ability to pursue its agenda through legislation. In this scenario, battles over extending the debt ceiling could roil the market. Regardless of the outcome, federal agencies will be an important tool for Biden to advance his policy priorities.