- Senate Advances RFK Jr.’s HHS Secretary Nomination to Final Vote
By Jeff Louderback
Robert F. Kennedy Jr.’s path to becoming secretary of the Department of Health and Human Services (HHS) received a significant boost on ...
- Trump to Give News Conference Wednesday on DOGE Findings
By Jacob Burg
President Donald Trump said he will hold a news conference on Feb. 13 to discuss some of the Department of Government Efficiency ...
- DOJ Sues New York Over Handling of Illegal Immigration
By Sam Dorman
WASHINGTON—Attorney General Pam Bondi announced on Feb. 12 that the Department of Justice (DOJ) has filed a lawsuit against New York officials, ...
- FEMA’s CFO, 3 Others Fired Over $59 Million Payout for Illegal Immigrant Housing
By T. J. Muscaro
The Department of Homeland Security (DHS) announced on Feb. 11 that it had fired Federal Emergency Management Administration (FEMA) Chief Financial ...
- FBI Discovers Thousands of New JFK Assassination Files After Trump’s Executive Order
By Jacob Burg
The FBI has discovered roughly 2,400 new records related to the assassination of President John F. Kennedy (JFK), pursuant to a recent ...
- Hawaii Supreme Court Approves Next Steps in $4 Billion Settlement for Maui Fire Victims
By Chase Smith
The Hawaii Supreme Court has ruled in favor of finalizing a $4 billion settlement meant to resolve numerous lawsuits related to the ...
- DOGE Cuts Now Into the Billions: White House
By Nathan Worcester
After three weeks, Elon Musk’s Department of Government Efficiency (DOGE) has made more than $1 billion in cuts, according to numbers from ...
- Trump Orders 25 Percent Tariffs on Steel and Aluminum
By Andrew Moran
President Donald Trump on Feb. 10 imposed 25 percent tariffs on all steel and aluminum imports.
Speaking to reporters on Air Force One ...
- DHS Secretary Recommends Trump ‘Get Rid’ of FEMA in Its Current State
By Jack Phillips
Secretary of Homeland Security Kristi Noem said she is recommending that President Donald Trump “get rid” of the Federal Emergency Management Agency ...
- Trump Signs Proclamation Recognizing Feb. 9 as ‘Gulf of America’ Day
By Aldgra Fredly
President Donald Trump signed a proclamation on Sunday declaring Feb. 9 as “the first-ever Gulf of America Day,” following his executive order ...
- Musk Says DOGE, Treasury Agree on New Anti-Fraud Measures to Claw Back $50 Billion in Payment Fraud
By Tom Ozimek
Elon Musk said on Feb. 8 that the Department of Government Efficiency (DOGE) and the Treasury Department have agreed on new anti-fraud ...
- Trump Revokes Security Clearances of More Former and Current Officials
By Melanie Sun
President Donald Trump on Saturday revoked security clearances for Antony Blinken, the former secretary of state, and Jake Sullivan, the former national ...
![Strong labor data and positive expectations about the incoming Trump administration pushed the U.S. dollar to a two-year high on Thursday. The U.S. dollar iIndex hit a high of 109.53 on Jan. 2, the first trading day of the year, and the highest since November 2022. The jump came as data released on Thursday by the U.S. Department of Labor showed that initial jobless claims hit an eight-month low, suggesting a robust labor market, which is a positive sign for the overall economy. The dollar index was trading slightly lower on Friday at 108.96 as of 08:30 a.m. EST. The dollar index increase is also supported by investor confidence in the upcoming Trump administration, which assumes power this month. According to a recent survey by consulting company Teneo, “global CEOs and investors are optimistic about the economic impact of a second Trump administration, outweighing concerns about tariffs, geopolitical tensions, and trade barriers.” Story continues below advertisement In fact, “50 percent of global CEOs are accelerating activities in areas such as domestic and international investment and hiring based on the outcome of the 2024 U.S. election,” it said. While the dollar strengthened, the euro and sterling declined on Thursday. The euro fell to its lowest level in more than two years while the sterling declined to its lowest in eight months. A Dec. 17 report from JP Morgan predicts the U.S. dollar to reach even new highs over the coming months. Related Stories How Major US Stock Indexes Fared Jan. 2 1/2/2025 How Major US Stock Indexes Fared Jan. 2 Americans Have Hopes Trump Will Deliver on Immigration, Economy, Safety: Gallup 1/2/2025 Americans Have Hopes Trump Will Deliver on Immigration, Economy, Safety: Gallup “November’s election outcome has given way to lower global growth expectations, wider growth gaps between the U.S. and the rest of the world, and higher terminal federal funds rate forecasts for 2025—the perfect trifecta of bullish U.S. dollar cyclical impulse,” said Meera Chandan, co-head of Global FX Strategy at the company. “These are early first-order reactions that may give way to deeper rethinks once the full set of Trump administration policies are known next year [2025], but for now, they constitute a solid economic rationale for carrying a long U.S. dollar stance into the first quarter of 2025.” JP Morgan sees the euro’s outlook as bearish, noting the eurozone is especially vulnerable to trade conflicts. And while sterling was the best-performing currency against the dollar last year, such an outperformance is not expected this year, it said. US Economy Performance in 2025 With President-elect Donald Trump set to take power in less than three weeks, there are mixed views about how things could shape up for the American economy. According to a Dec. 9 post by Morgan Stanley, markets are “bullish on Trump’s second term, hoping for tax cuts and better growth.” “We expect no net stimulus and a decent size hit from tariffs and immigration. This should be bullish for bonds as the Fed continues cutting, but could be a disappointment for frothy stocks,” it said. Regarding tariffs, the most likely outcome is a 20 percent hike on Chinese imports and on vehicles from Mexico and the European Union, Morgan Stanley said. Story continues below advertisement It predicts the U.S. Federal Reserve to continue cutting interest rates to a range of 3 percent 3.5 percent by the end of 2025. S&P Global is forecasting the U.S. economy to grow by 2 percent in 2025 and 2026, following an estimated growth of 2.7 percent last year. The company sees inflation to likely remain above the 2 percent level for “longer than we previously thought.” Goldman Sachs predicts the U.S. economy to “beat expectations” this year. “The U.S. economy is in a good place,” said David Mericle, an economist with the company. “Recession fears have diminished, inflation is trending back toward 2 percent, and the labor market has rebalanced but remains strong.” While Trump’s policy changes are likely to be “significant,” Mericle does not see these actions changing the trajectory of the economy substantially. Goldman foresees the Fed reducing interest rates to a range of 3.25–3.50 percent, with the U.S. GDP predicted to grow by 2.5 percent. There have been three consecutive quarters of economic growth in the first nine months of 2024—1.6 percent in the first quarter, 3 percent in the second, and 3.1 percent in the third.](https://www.usnn.news/wp-content/uploads/2025/01/US-Dollar-Index-Hits-Highest-Level-in-2-Years-Euro-Falls-jpg.webp "US Dollar Index Hits Highest Level in 2 Years, Euro Falls | USNN World News")
