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Democrats gain control of the Senate in Georgia, clearing the mandate of Biden

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There is already a winner. The Democrats have finally managed to win victory in Georgia and, therefore, with control of the US Senate, thus smoothing the mandate of President-elect Joe Biden. Raphael Warnock and Jon Ossoff have won the seats in the second round of elections.

Before Wednesday's break, Warnock was ahead of Loeffler by less than a percentage point and Ossoff was a stone's throw from Perdue, according to Edison Research. Warnock and Ossoff both made big gains over Republicans after a batch of votes from Democratic-leaning DeKalb County were reported. In fact, the reverend of Atlanta has been proclaimed the winner in his seat and various media give him the victory.

With a narrow margin in the polls for the Democrats, analysts and observers predict a cumbersome process until they know the name of the new senators. This meager advantage is of concern to experts, since a narrow victory in either seat could well be subject to legal challenge.

Democrats must win both seats at stake if they want to enjoy the smallest possible majority in the upper house (50 of the 100 seats available but with the decisive vote of the vice president, compared to the 46 they now hold – the other two are independent-). This victory would also give them control of the three legislative bodies of the country. In contrast, failing to win one or both seats “would challenge the hopes of Biden's party to continue with its fiscal agenda, which would likely cause the curve to flatten as expectations of a public sector boost to the demand is reduced ”, say Rabobank analysts.

Instead, with 50 seats and the vote of the vice president-elect, Kamala Harris, who is the president of the upper house, there are full guarantees that “the unemployment benefits of $ 600 to $ 2,000, and that the infrastructure aid packages will be approved on the fast track in the first quarter, ”says Stephen Innes, analyst at Oanda. For the same reason, expectations of support from central banks (especially through a possible extension of asset purchases), decrease with a double Democratic victory. On the contrary, "it would increase the risk of greater activity by the Federal Reserve (Fed)", if the Republicans are kept in control, added Rabobank for their part.

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