UBS: Even if Democrats win the majority in Congress, they may struggle to act together

UBS expects that even if Democrats win majorities in both the U.S. House and Senate in the midterm elections, they may struggle to maintain a unified agenda over the next two years. The bank highlighted a likely divide between progressive and moderate Democrats as the decisive factor, even as the party's budgetary influence grows. The assessment matters because control of Congress shapes the scope of fiscal legislation and the prospects for Democratic priorities. What to watch next is whether intra-party tensions between progressives and moderates constrain budget negotiations and legislative cohesion.