Polling expert Patrick Allocco told Newsmax on Monday that an economic "correction" is already underway in the United States, arguing that improving economic indicators and the anticipated signing of peace accords with Iran could reshape the political environment heading into the 2026 midterm elections.
Allocco, founder of the Zoose Political Index, told "Finnerty" recent economic data suggest conditions are improving for Republicans despite polls showing Democrats with a narrow advantage on the generic congressional ballot.
"Yes, the correction has started," Allocco said when asked whether the country was already experiencing a turnaround under President Donald Trump.
"Gas prices are falling, 401(k)s are at records, the job market just added 172,000 jobs last week, and you're starting to see that show up in the polling," he said.
Allocco's comments came as Wall Street continued to rally, with the Dow Jones Industrial Average reaching a record high Monday.
Oil prices have also retreated from levels seen shortly after the Iran conflict began, while gasoline prices have declined in recent weeks.
The improving economic picture could prove politically significant as voters increasingly cite the economy as their top concern.
Host Rob Finnerty noted that a recent Emerson College poll found the economy was the most important issue facing the country, while the Emerson poll and one from NBC News showed Democrats holding modest leads on the generic ballot.
Allocco argued those Democrat advantages are smaller than what has historically preceded major midterm gains.
"Just look at the generic ballot this week," he said.
"Reuters/Ipsos, which is certainly not a friendly Republican poll, has Democrats ahead by only 3 points," Allocco said.
He added that Trump's approval ratings have remained steady despite concerns about the economy earlier in the year.
"Overall, presidential approval numbers are stable.
"This is not a blue-wave scenario. That tells me Republicans are still very much in this fight," Allocco said.
The discussion comes ahead of the expected signing Friday of a 60-day memorandum of understanding with Iran, an agreement Trump supporters hope will bring greater stability to energy markets and ease geopolitical uncertainty.
Looking ahead to the fall campaign season, Allocco predicted economic strength could benefit Republicans.
"We're looking at a macro economy that's extremely strong right now," he said.
"And you've got the gerrymandering that really favors Republicans.
"Right now, what we're looking at is plus-6 Republican going into the fall here," Allocco added. "I think it's going to be a win."
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