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DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 101.70 |
| Change that session | -0.28% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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Speaking at a rally in Kentucky on October 17 to back Republican candidates, President Trump said his power in his second term is far greater than in his first, and that Google, which would not take his calls before, now has to bow to him. According to AP, many voters are unhappy with how he uses power, and tariffs and the Iran war have pushed up prices, raising Republican concerns about the midterm elections that threaten their control of both chambers of Congress. Trump promised that if Republicans win both the House and Senate, every adult American would receive $5,000, a program that could cost more than $1,000 billion and worsen the annual deficit of nearly $1,800 billion. On the same day, No Kings protests against Trump took place in many US cities.
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Trump is promising $5,000 checks that would be paid only if Republicans keep their House and Senate majorities after the November 3 midterms, but some of his own supporters at recent rallies doubt the money will arrive. He previously pledged $2,000 tariff dividends and refunds from Department of Government Efficiency spending cuts, neither of which materialised. Trump acknowledges the cost would exceed $1 trillion, yet the White House has not seriously addressed the deficit and inflation risks, citing trade deals, foreign investment and oil and mineral deals as funding sources. An AP-NORC poll from September found roughly half of registered voters say he does not keep his promises, and Republican candidates are not advertising the pledge, according to AdImpact.
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US government debt hit a $40 trillion milestone in August, raising questions about whether the country is becoming a riskier borrower ahead of the midterm elections. Analysts say the 'term premium' on US bonds does not yet show worrying increases, but risks remain because the Trump administration has not taken concrete steps to reduce deficits or curb rising borrowing costs. The Treasury reported a roughly $2 trillion deficit for the fiscal year ended September 30, 12% larger than the previous year, with a record $1.36 trillion in debt service costs, and a deficit equal to about 6.2% of the economy versus a sustainable level near 3%. The Supreme Court struck down many of Trump's tariffs earlier this year, forcing $145 billion in refunds, while the 30-year mortgage rate reached 7.40%, according to Freddie Mac. Policy advocate Carolyn Bourdeaux urged candidates to explain how they would put the budget on a sustainable track.
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