Good morning. It's Wednesday, November 4, 2026. Americans went to the polls yesterday in midterm elections, and this morning major news organizations are projecting that Democrats will take control of both the House and the Senate.
Election workers are still counting ballots, and a number of individual races remain too close to call, so final seat totals are not yet settled. The outcome will shape how Washington handles its next big test, a government funding deadline that arrives December 11.
The government also reported that the economy grew at a 3.4 percent yearly rate over the summer, a pickup from the spring, even as the Federal Reserve held interest rates steady. For older Americans, there is practical news too, from a larger Social Security raise coming in January to an early and unusual flu season now spreading.
The Top Stories
First, the elections. Americans voted Tuesday, November 3, in midterm contests for control of the House and Senate, along with many governor races and state ballot measures, and this morning major news organizations are projecting that Democrats will take control of both chambers of Congress.
Officials are still tabulating results in a number of places, and several individual races remain too close to call, so final seat totals are not yet known. Why it matters: the makeup of Congress will steer decisions on taxes, Social Security, and Medicare for the next two years.
Second, government funding. A stopgap law is keeping federal agencies open only through December 11, at last year's spending levels, and lawmakers return to Washington on November 9 with just a few weeks to agree on a new plan.
Why it matters: if Congress does not act, a lapse could interrupt federal services and paychecks that millions of families count on. Third, the economy. The Bureau of Economic Analysis said the nation's output grew at a 3.4 percent annual rate from July through September, up from 2.2 percent in the spring, while an inflation gauge in the report cooled.
Why it matters: steady growth with easing prices gives households and the Federal Reserve some breathing room.
Washington & the Nation
The funding fight now moves to the front of the calendar. The current stopgap holds federal spending at fiscal 2026 levels and expires at the end of the day on December 11, leaving a lame-duck Congress to pass either a full-year package or another short-term bill when members return November 9.
On monetary policy, the Federal Reserve on October 28 left its benchmark interest rate in a range of 3.75 to 4 percent, a decision reached by a vote of 10 to 2, and Chair Kevin Warsh said the central bank wants more information before its next meeting in December. Federal agencies also issued fresh consumer warnings.
On November 2, the FBI cautioned that criminals are posing as federal agents and spoofing official phone numbers to frighten people into sending money, a scheme that often targets older adults, while the Federal Trade Commission has warned of callers who threaten to shut off phone service. And in South Florida, investigators continue to examine why a private Learjet 60 crashed in Greenacres on November 1, killing all nine people aboard on a flight bound for the Bahamas.
Around the World
Overseas, the war between Russia and Ukraine ground on, with both sides striking energy sites as winter approaches. Russian strikes knocked several Ukrainian power plants offline and damaged transmission lines, raising fresh worries about electricity for civilians during the cold months ahead.
In Africa, health authorities reported that the death toll from an Ebola outbreak, centered in the Democratic Republic of Congo, has climbed past 5,300, according to the Africa Centres for Disease Control and Prevention, and response teams are working to contain the spread. In Europe, Britain and the European Union moved toward an agreement to ease checks on food and farm products crossing their borders, a step meant to smooth trade and lower costs.
And on a brighter note, Greenland opened a new international airport, part of an effort to welcome more visitors to the Arctic island. Taken together, the headlines abroad point to familiar pressures, conflict, disease, and trade, alongside quieter signs of progress and cooperation among neighbors.
Your Money
On Wall Street, the latest delayed readings showed a mixed day. The Dow Jones Industrial Average finished lower, while the broader S&P 500, the technology-heavy Nasdaq, and the small-company Russell 2000 all moved higher.
In commodities, gold slipped while oil rose. For savers, there is notable news from the U.S. Treasury, which set a new rate on inflation-protected I bonds. Bonds bought now carry a composite rate of 5.51 percent, and the fixed portion, which stays with the bond for its life, is 1.40 percent, the highest fixed rate in 20 years.
Borrowers got a small break as well. Freddie Mac said the average rate on a 30-year fixed mortgage eased for a second straight week, to 7.24 percent as of October 29, though that remains well above a year ago.
And retirees can look ahead to January, when Social Security benefits rise 3.6 percent, about $75 a month for the average recipient, the largest cost-of-living increase since 2023. A higher Medicare Part B premium is expected to take back part of that raise once official figures are announced.
Health & You
This season's practical advice is simple: if you are 50 or older and have not had a flu shot, now is the time. The Centers for Disease Control and Prevention reported on October 30 that flu is spreading unusually early this year, driven by an H1N1 strain, with activity growing or likely growing in dozens of states and an early hospitalization rate that is among the highest for this point in the season in years.
Older adults face some of the greatest risk of serious illness, and doctors stress it is not too late to be vaccinated, since the shot takes about two weeks to build full protection. Adults 50 and older now have more options too, including a newer flu vaccine made with the same mRNA technology used in COVID shots.
While you are thinking about health, remember that Medicare open enrollment runs through December 7, so this is the window to compare plans for 2027 before coverage locks in on January 1.
One Good Thing
Finally, a bit of welcome news for careful savers. For years, Americans who wanted a safe place to park money watched returns stay stubbornly low. This month the U.S. Treasury set the fixed rate on its I savings bonds at 1.40 percent, the highest it has been in two decades, on top of an inflation adjustment that brings the current overall rate to 5.51 percent.
In plain terms, that fixed portion is a guaranteed return above inflation that stays with the bond for as long as you hold it, up to 30 years. It is a reminder that patience can pay off, and that even in an uncertain season, ordinary savers, including retirees living on a fixed income, have a solid and government-backed option.
Sometimes good news is simply this: the quiet habit of putting a little aside is being rewarded again.
On This Day
In 1922, Archaeologist Howard Carter discovered the entrance to the tomb of Tutankhamun in Egypt's Valley of the Kings. In 1979, Iranian students seized the United States embassy in Tehran, beginning a hostage crisis that lasted 444 days.
In 2008, Barack Obama was elected the first African American president of the United States. In 1916, Walter Cronkite, American broadcast journalist. (From the 50PlusHub Nostalgia archive.)
That's the briefing for this Wednesday, November 4. If you take just one thing with you today, let it be this: guard your phone and your wallet. Federal agents will not call to demand money, gift cards, or personal information, so if a caller pressures you, hang up and dial your local office back on a number you look up yourself.
And if you have not yet gotten your flu shot, consider making the time this week. We will keep watching the vote count, the funding talks in Washington, and the markets, and we will bring you the facts plainly as they come.
Thank you for spending part of your morning with us. Take care of yourselves and each other, and we will see you back here tomorrow.
Sources
- U.S. Bureau of Economic Analysis, Gross Domestic Product Third Quarter 2026 (Advance Estimate), BEA (2026)
- Federal Reserve, Federal Open Market Committee Statement, Board of Governors of the Federal Reserve System (2026)
- U.S. Department of the Treasury, Series I Savings Bond Rates, TreasuryDirect (2026)
- Social Security Administration, 2027 Cost-of-Living Adjustment, SSA (2026)
- Centers for Medicare and Medicaid Services, 2027 Medicare Part D Changes, CMS (2026)
- Freddie Mac, Primary Mortgage Market Survey, Freddie Mac (2026)
- U.S. Treasury (Treasury yields)
- Yahoo Finance (delayed market quotes)