- FEMA Warns Americans of Scams After Hurricane Helene’s Devastation
By Jack Phillips
The Federal Emergency Management Agency warned Americans that scams may be proliferating in the wake of Hurricane Helene’s devastation across several states.
The ...
- California Faces Wave of Lawsuits Over Gender Identity Notification in Schools
By Brad Jones
A mother’s tears of worry and frustration over her 17-year-old daughter’s secret social gender transition at school tell the story of what ...
- ‘It’s Our Hurricane Katrina’: Asheville Residents Describe Death, Destruction, Danger After Hurricane Helene
By Arjun Singh
ASHEVILLE. N.C.—Tunnel Road is a major thoroughfare between Asheville and the Swannanoa Valley in western North Carolina. Before Hurricane Helene, hundreds of ...
- Musk Launches PAC to Back Candidates Focused on Secure Borders, Free Speech, Sensible Spending
By Tom Ozimek
Business mogul Elon Musk has launched a new political action committee (PAC), called America PAC, to endorse candidates aligned with a set ...
- Trump Returning to Butler, Where He Survived Assassination Attempt
By Janice Hisle and Savannah Hulsey Pointer
BUTLER TOWNSHIP, Pa.—Under enhanced security, throngs are expected to join former President Donald Trump and dozens of special ...
- Elon Musk to Attend Trump Rally at Site of Attempted Assassination
By Zachary Stieber
Elon Musk said on Oct. 3 that he will attend former President Donald Trump’s upcoming rally in Butler, Pennsylvania.
“I will be there ...
- Firefighters Union Declines to Endorse Trump or Harris in Presidential Race
By Katabella Roberts
With only weeks to go until the November election, the International Association of Fire Fighters (IAFF), a labor union representing more than ...
- High New Car Prices Spur Increased Incentives, but End of Low Cost Sedan Is Affecting Buyer Enthusiasm
By Mark Gilman
If you’re in the market for an inexpensive second car, a first car for a family member, or just want to save ...
- A Long Dockworker Strike May Bring More Pain to Consumers at the Grocery Store
By Mark Gilman
Food prices went up 25 percent from 2019 to 2023 and were expected to increase by another 2.2 percent this year—but that ...
- Massachusetts Couple Indicted for Wrongful Voting in New Hampshire
By Matt McGregor
A New Hampshire grand jury has issued six indictments charging a Massachusetts couple with wrongful voting in three election cycles.
New Hampshire Attorney ...
- Taxpayers Affected by Hurricane Helene Can Delay Their Tax Filing Deadline: IRS
By Naveen Athrappully
The Internal Revenue Service (IRS) is extending tax deadlines for multiple states affected by Hurricane Helene.
Hurricane Helene hit the United States late ...
- California Lawmakers Advance Bill That Aims to Keep Gas Prices From Spiking
By The Associated Press
SACRAMENTO, Calif.—The California state Assembly approved a bill Tuesday backed by Gov. Gavin Newsom aimed at preventing gas prices from spiking, ...
![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")
