Lower prices sound great, but deflation would spur economic headaches

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Republicans have good reason to worry about their prospects in the 2026 midterm elections after a string of recent defeats.

GOP losses in the recent New Jersey and Virginia gubernatorial races, Miami’s mayoral election, and the contest for a previously Republican-held Georgia state House seat that went Democratic made for tough election nights as 2025 wound down. Plus a closer-than-expected contest in a red-leaning congressional district in Tennessee, among others.

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