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My colleague Mike Allen, who's covered a few midterm elections in his time, says it's rare to see so much evidence of a trend accumulate so many months out, only for all the signals to be proven wrong.

Expand chart
Data: Cook Political Report, Real Clear Politics, Politico, The Washington Post, CNN, 538; Table: Lazaro Gamio/Axios

The big picture: Yes, the punditocracy is being cautious about 2018 because it has fresh memories of how humiliating it felt to wake up on Nov. 9, 2016, with Donald Trump as president. But the graphic above tells a stark story and shows the pundit class may be underestimating the odds of a devastating election season for Republicans.

The bottom line: The signals look every bit as bad for Republicans as they did for House Democrats when they got wiped out in the 2010 Tea Party wave.

  • "Every metric leads you to one conclusion: The likelihood of significant Republican losses in the House and state/local level is increasing by the week," said the Republican operative who did this statistical comparison to 2010.
  • "The depth of losses could be much greater than anticipated and the Senate majority might be in greater peril than anticipated."

Go deeper: Read the Washington Post's Dan Balz on the under-covered battle for the Senate.

Go deeper

Fed chair says he isn't concerned by Delta surge

Fed Chairman Jerome Powell at the G20 finance ministers and central bankers meeting in Venice last month. Photo: Andreas Solaro/AFP via Getty Images

One of the country's most influential economic officials doesn't anticipate that surging coronavirus cases will knock the reopening recovery off course.

What he's saying: "There has tended to be less economic implications from each [coronavirus] wave. We'll see if that's the case for the Delta variety," Federal Reserve Chairman Jerome Powell told reporters today.

Updated 2 hours ago - Economy & Business

Ubisoft workers demand company accountability in open letter

Photo: Frederic Brown / Getty Images

Close to 500 current and former employees of “Assassin’s Creed” publisher Ubisoft are standing in solidarity with protesting game developers at Activision Blizzard with a letter that criticizes their company's handling of sexual misconduct.

Why it matters: Ubisoft and Activision Blizzard workers are framing the actions as part of a bigger movement meant to have lasting change in the industry and its culture.

Companies deploy tech to prevent retail crime

Customers in a Home Depot in Pleasanton, California, in February 2021. Photo: David Paul Morris/Bloomberg via Getty Images

Retailers have a new edge for fighting theft: They're using technology to disable stolen goods — from iPhones to Black & Decker drills — and render them useless.

Why it matters: Organized retail crime has a considerable affect on retailers every year, costing them an average of $719,000 per $1 billion dollars in sales, according to estimates from the National Retail Federation.