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By Naveen Athrappully
Massachusetts House lawmakers approved a measure on Oct. 18 that would tighten the state’s firearm laws and crack down on unregistered “ghost ...
- World’s Electric Grids Incapable of Supporting Renewable Energy Goals: Agency
By Naveen Athrappully
Electricity grid capacity available in the world isn’t keeping pace with the rapid growth of “clean energy” technologies, possibly putting governments’ climate ...
- Jordan Loses Speaker Bid on Second Try
By Jackson Richman and Emel Akan
Rep. Jim Jordan (R-Ohio) will try on Oct. 18 for a second time to become second in line to ...
- Sen. Ted Cruz Says RFK Jr. Needs Secret Service Protection, Questions DHS Denial
By Naveen Athrappully
Sen. Ted Cruz (R-Texas) sent a letter to Department of Homeland Security (DHS) Secretary Alejandro Mayorkas on Monday, questioning why the agency ...
- Major Donor Stops Donations to UPenn Over Its Response to Hamas Attacks on Israel
By Samantha Flom
Former U.S. Ambassador and Utah Gov. Jon Huntsman, a longtime donor to the University of Pennsylvania, notified his alma mater on Oct. ...
- New York Delivers Major Blow to Green Energy Development
By Jack Phillips
New York’s state government rejected requests from offshore wind energy developers who asked to re-negotiate contracts amid elevated inflation and rising costs.
The ...
- Momentum Swings in Jordan’s Favor as Holdouts Flip Ahead of Speaker Vote
By Joseph Lord and Jackson Richman
It has been almost two weeks without a speaker of the House but that soon could end with Rep. ...
- Trump Sues Ex-British Spy Christopher Steele Over Dossier Allegations
By Savannah Hulsey Pointer
A lawyer for former President Donald Trump told a London judge that his client intends to prove that a report written ...
- Mike Pence’s 2024 Campaign Is Six Figures in Debt
By Jack Phillips
Former Vice President Mike Pence’s campaign reported a debt of more than $600,000, according to a recent federal filing, coming as his ...
- Judge Prohibits Trump From Speaking Out Against Prosecutors, Others
By Sam Dorman and Catherine Yang
WASHINGTON—Judge Tanya Chutkan, presiding over the case against former President Donald Trump for allegedly interfering in the 2020 presidential ...
- Proposed Trump Gag Order to Be Considered in Federal Election Case
By Sam Dorman
The D.C. District Court is holding a hearing on Oct. 16 over the Biden administration’s request for a gag order on former ...
- Landry Wins Louisiana Governor’s Race, Flipping State Red
By John Haughey
Trump-endorsed Louisiana Attorney General Jeff Landry will be the first Republican in eight years to move into the governor’s mansion after a ...
![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")
