Balance of Power: Fed Holds Rates, Big Tech Earnings, and Midterm Battlegrounds

Bloomberg's Balance of Power delivers a live wrap-up of the day's major political and economic developments from Washington, D.C., ahead of the midterm elections. The broadcast combines Fed policy analysis, big tech earnings coverage, and on-the-ground reporting from key Senate races, giving viewers a single source for the week's top stories.

■ Federal Reserve & Economy
- Chair Kevin Warsh's decision to hold interest rates steady, and what it signals for the December meeting
- Analysis of inflation, the dual mandate, and a rare dissent from Governor Lisa Cook
- Expert discussion on rate policy, energy-driven inflation, AI investment demand, and consumer spending
- Implications of the upcoming election for fiscal policy and future rate decisions

■ Big Tech Earnings
- Alphabet and Microsoft's contrasting AI-era results, cloud growth, and free cash flow
- Alphabet's record-scale compute commitments and spending outlook

■ Midterm Election Coverage
- President Trump's rally push in Ohio and the competitive Senate and governor's races
- The Alaska Senate controversy over a same-named candidate and potential legal challenges
- Battleground updates from Nebraska, South Carolina, Texas, and more
- Republican strategist and political panel assessments of polling, turnout, and ads

■ Energy & Congress
- U.S. energy policy, diesel supply, and talks related to the Russia-Ukraine war
- A lawmaker interview on permitting reform, deficit reduction, and the legislative agenda

The broadcast is suited to viewers following U.S. politics, markets, and macroeconomics who want context on how policy, earnings, and elections intersect. Watching it provides a structured understanding of the issues shaping voter sentiment and market expectations heading into election night, along with the frameworks experts use to evaluate them.