GDP Report Drops as Israel Faces Election Deadlock
- The Commerce Department releases GDP and inflation data today.
- Israel's election remains deadlocked with no party reaching 61 seats.
- The Federal Reserve kept interest rates steady on October 28.
- Over 40,000 DHS personnel files were exposed in a recent hack.
- Early voting data shows increased turnout among key demographics.
The Commerce Department releases a report on gross domestic product and inflation today, October 29, 2026, to show whether economic growth in the summer was faster than in the spring. The Federal Reserve kept interest rates steady on October 28, 2026, and will monitor today's inflation data.
Consumer prices rose 3.7% in September 2026 compared to the same month a year earlier, with prices currently outpacing wage growth. Economist Mark Zandi describes the expected GDP growth as "very, very fragile" due to the impact of inflation.
Israel remains in political deadlock with no clear majority
Israel remains in a political deadlock following its recent parliamentary election, with over 90% of votes counted. No candidate has a clear path to the 61 seats required for a parliamentary majority.
Prime Minister Benjamin Netanyahu and his allies secured 53 seats in parliament, while rival Gadi Eisenkot and his allies secured 48 seats. Netanyahu is encountering significant challenges in forming a coalition as the deadlock continues to deepen.
Arab-led parties secured a record 19 seats in parliament, potentially offering a path to victory for Eisenkot. There is mounting pressure on Eisenkot to join a unity government alongside Netanyahu, especially in the event that Israel initiates a fresh conflict with Iran. There are four potential scenarios identified that could lead to a resolution of the current election deadlock.
U.S. election campaigns intensify with high spending
Political parties are investing more than $100,000 in 70 districts for final election messaging. Former President Barack Obama campaigned in Georgia on Oct. 28, 2026, to highlight the cost of living and the impact of Donald Trump's policies on prices.
Democratic Sen. Jon Ossoff appears likely to win his Senate race in Georgia, though the state's gubernatorial contest remains uncertain. Early voting data shows increased turnout among Latino voters, young voters in Democratic areas, and non-supervoters.
A federal judge denied a Department of Justice request to stop processing ballots for 20,000 individuals identified as likely noncitizens. The department is currently appealing that decision. Voters will also decide on 145 statewide ballot measures covering topics such as abortion, LGBTQ+ rights, taxes, and voting.
DHS personnel files exposed in major data breach
A hacking group breached personnel files at the U.S. Department of Homeland Security on Oct. 28, 2026. The breach exposed the names, addresses, and phone numbers of more than 40,000 agents and associates.
This exposure includes personnel currently involved in undercover operations.
Automakers face rising costs despite revenue growth
American automakers recorded revenue growth during the third quarter of 2026. Rising costs for transport fuel, steel, copper, and computer chips currently strain the industry. Suzanne Nuyen was the editor for this report.
HHS updates policy on compounding pharmacy peptides
The Department of Health and Human Services implemented a new policy regarding compounding pharmacies. A new policy has been enacted by the Department of Health and Human Services permitting small compounding pharmacies to manufacture six particular peptides that lack approval from the Food and Drug Administration.
High Springs department funding status remains uncertain
The future funding status for the High Springs fire rescue and police departments is currently unknown.
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