Economics

US Senate election: live results

Published

3 weeks ago

November 4, 2024

On November 5th America will pick its next president, as well as the House of Representatives and a third of the Senate. The Economist will publish live results and analysis covering every race. Check back here soon after first polls close at 6pm EST / 11pm GMT to see in real-time how many votes Kamala Harris and Donald Trump are picking up, and which of them will win the White House, as well as which party will control the two chambers of Congress.

Before then, this page provides a guide for what to look out for ahead of the election. Elsewhere, our daily updated election forecasts calculate each presidential candidate’s chances of winning, and who might take the House and the Senate. Our poll tracker rounds up the latest presidential polls. And The US in brief, our daily update delivered by newsletter, gives you all the election stories that matter.

What to watch

This year, given large numbers of people have voted early, many expect the counting will be slow. Officials, however, insist that ballot tallying will be faster than in previous years. The results could be known just a few hours after polls close across the country—as they were for seven of the past ten elections (see chart). Or they could take days to become clear.

The first states to conclude voting will be on the east coast. Six states, including the key battleground of Georgia, will finish voting statewide at 7pm EST. By 8pm, 19 more states will have joined them and a flurry of data will be published. Readers should exercise caution: little of substance will be revealed at this stage of the night, unless the election is a landslide.

In some states, where one candidate is heavily favoured, the election result will be called almost immediately. Unless there is a major upset or a striking trend, these calls may not say much about the election overall. The absence of a call may be more informative: it may indicate that an expected landslide has not happened, for instance.

The final result will probably come down to seven key states. Of those, Georgia and Michigan may be the fastest to count. North Carolina is also traditionally quick to count but may experience disruption due to Hurricane Helene.

Others could well be slower. Pennsylvania will not start processing millions of postal ballots until the morning of election day. Arizona and Nevada, in the west, finish voting later that day and take longer to count their mail-in ballots, which are popular in both states. Nevada accepts and counts ballots which arrive after election day, too (although these are unlikely to flip the state).

Read more about what to watch on the night, and in the days that follow.

What are the candidates’ paths to victory?

Pennsylvania is the most important state for both candidates. (Mr Trump won Pennsylvania in 2016, but it flipped to Joe Biden in 2020.) According to our forecast model, as of November 4th, Ms Harris wins in 92% of our simulations when she takes the Keystone State’s 19 electoral votes; Mr Trump wins in 88%.

Mr Trump has even better odds when he wins Michigan (95%), but he has more alternative routes to the presidency without Michigan than without Pennsylvania. Other swing states are less influential: Ms Harris and Mr Trump win the election in only 71% and 67% of simulations, respectively, when they win Nevada, a state with only six electoral votes.

The most likely outcome—occurring in 19% of our simulated elections on November 4th—is that Mr Trump will win all seven swing states and go on to win the presidency. The second-most likely is the exact opposite: our model gave Ms Harris a 9% chance of sweeping the seven. The third would give all of the swing states except Nevada to Mr Trump—that would be a repeat of the 2016 result. But based on all of our model’s scenarios, the race is a toss-up: neither candidate has a lead big enough to offset the kind of polling errors seen in previous presidential elections.

Economics

Donald Trump chooses hedge fund executive Scott Bessent for Treasury Secretary

Published

14 hours ago

November 22, 2024

Business Finance News

Scott Bessent, founder and chief executive officer of Key Square Group LP, during an interview in Washington, DC, US, on Friday, June 7, 2024.

Stefani Reynolds | Bloomberg | Getty Images

President-elect Donald Trump has signaled his intention to nominate hedge fund executive Scott Bessent as his Treasury secretary, sources tell CNBC and NBC News.

The founder of Key Square Group had been considered a strong favorite for the position along with a few other close contenders.

As head of Treasury, Bessent, 62, will be both the U.S. fiscal watchdog as well as a key official to help Trump enact his ambitious economic agenda. Both a Wall Street heavyweight and advocate for many of the incoming president’s economic goals, he would come to office at a critical time as the U.S. wrestles with a growing economy alongside long-festering debt and deficit issues.

Like Trump, Bessent favors gradual tariffs and deregulation to push American business and control inflation. In addition, Bessent has advocated for a revival in manufacturing as well as energy independence.

The prospective nominee also has deep philanthropic ties through Yale University along with Rockefeller University and Classical American homes Preservation Trust.

One obstacle Bessent will have to overcome is his past affiliation with billionaire investor and global gadfly George Soros. Bessent served as chief investment officer for Soros’ fund.

Economics

Trump might name Kevin Warsh as Treasury chief then Fed chair later, report says

Published

24 hours ago

November 22, 2024

Business Finance News

Kevin Warsh

Jin Lee | Bloomberg | Getty Images

President-elect Donald Trump is considering naming Kevin Warsh as Treasury secretary then ultimately sending him off to serve as Federal Reserve chair, according to a Wall Street Journal report.

A former Fed governor himself, Warsh would move over to the central bank after current Chair Jerome Powell’s term expires in 2026, according to the Journal, which cited sources familiar with Trump’s thinking.

The speculation comes with Treasury being the last major Cabinet position for which Trump has yet to state his intention.

Various reports have put Warsh as one of the finalists with Apollo Global Management CEO Marc Rowan and hedge fund manager Scott Bessent. Among the potential scenarios would be one where Bessent would lead the National Economic Council initially then go over to Treasury after Warsh takes over at the Fed.

However, Trump is known for the propensity to change his mind, and the report noted that nothing has been finalized.

Read the full Wall Street Journal story here.

Economics

Matt Gaetz withdraws from consideration as America’s attorney-general

Published

2 days ago

November 21, 2024

Business Finance News

MATT GAETZ, Donald Trump’s choice for America’s attorney-general, spent November 20th meeting senators and telling reporters it had been “a great day of momentum”. The next day, however, Mr Gaetz withdrew his name from consideration, acknowledging that “my confirmation was unfairly becoming a distraction.” This was not self-effacement from a MAGA firebrand, but a reflection of reality: Mr Gaetz had little chance of being confirmed even by a Republican-controlled Senate. The Republican Party may belong to Mr Trump, but his power is not absolute.