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By Sam Dorman
President Donald Trump indicated on Aug. 25 that his administration would file lawsuits over California’s redistricting attempt and individual senators’ ability to ...
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By Jack Phillips
The FBI announced that more than 1,000 arrests have been made across Washington since the federal government took over law enforcement for ...
- Rangers Clear Thousands of Marijuana Plants, Banned Pesticides From Sequoia National Park
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Law enforcement rangers last week removed over 2,000 marijuana plants and banned pesticides from a site in Sequoia National Park in California, ...
- Trump to Host South Korea’s President Lee at White House for Trade, Defense Talks
By Emel Akan
WASHINGTON—President Donald Trump will welcome South Korea’s newly elected president, Lee Jae Myung, to the White House on Monday to discuss trade, ...
- Facing Impending Crisis, California Lawmakers Pivot on Fossil Fuels
By Beige Luciano-Adams
LOS ANGELES—California legislators on Aug. 20 considered a plan that would dramatically loosen restrictions on drilling and refining oil in the state, ...
- Trump Names 4 Judges to Fill Vacancies in North Carolina Courts
By Tom Ozimek
President Donald Trump announced four nominees to fill long-standing federal trial court vacancies in North Carolina, tapping prosecutors, a magistrate judge, and ...
- Kilmar Abrego Garcia Released From Tennessee Jail
By Sam Dorman
Kilmar Abrego Garcia, a suspected gang member at the center of a high-profile deportation case, has been released from a jail in ...
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California’s beleaguered high-speed rail project is under investigation by the U.S. House Committee on Oversight and Government Reform.
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- DC Business Owners Weigh In on Trump’s Crime Crackdown
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WASHINGTON — Across the nation’s capital, business owners and employees offered mixed opinions of President Donald Trump’s push to ...
- Money Wired to Mexico Hits a Decade Low as US Immigration Policies Take Hold
By Darlene McCormick Sanchez
The Trump administration’s crackdown on illegal immigration is playing a role in the sharpest decline in monthly remittances to Mexico in more ...
- More Than 460 Arrests Made Since Federal Takeover of DC Policing
By Savanah Hulsey Pointer
Police and federal officers in the District of Columbia have made 465 arrests since the federal government took over policing the ...
- Three More GOP Governors Approve Sending National Guard Troops to DC
By Tom Ozimek and Sam dorman
Governors from Mississippi, Tennessee, and Louisiana are sending National Guard troops to Washington to assist President Donald Trump’s effort ...
![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")
