- Cruz Leads 24 GOP Senators to File Amicus Brief in Supreme Court Case Protecting Second Amendment
By Masooma Haq
Sen. Ted Cruz (R-Texas), ranking member of the Senate Judiciary Subcommittee on the Constitution, led 24 other Republican senators to file an ...
- Sen. Paul Sending Criminal Referral of Fauci to Department of Justice
By Zachary Stieber
Sen. Rand Paul (R-Ky.) on Wednesday sent a criminal referral of Dr. Anthony Fauci to the Department of Justice, in the aftermath of their contentious back-and-forth ...
- Texas Rep. Introduces Bill to Audit 13 Most-Populous Counties’ Election Results
By Jack Phillips
A Texas House representative announced Monday he’s introducing a bill for a forensic audit of the most populous counties’ election results.
According to the text of House Bill 241, ...
- California Appeals Court Overturns Anti-Misgendering Law on First Amendment Grounds
By Matthew Vadum
A California appeals court struck down as unconstitutional a state law that penalized elder-care workers for using pronouns inconsistent with elderly long-term ...
- Wisconsin Lawmaker Calls for ‘Full Forensic Audit’ After Georgia, Arizona Updates
By Zachary Stieber
A Wisconsin representative on Friday said 2020 election reviews being done in the state should be expanded into a “full forensic audit” following alleged ...
- Legal Group Launches Effort to Learn About Biden Administration’s Coordination With Big Tech
By Zachary Stieber
A legal group is seeking information on the extent of the Biden administration’s coordination with Big Tech after White House officials this week said ...
- Arizona Senate President Says 2020 Election Audit’s Ballot Count Doesn’t Match Maricopa Tally
By Isabel Van Brugen
Arizona Senate President Karen Fann said on July 13 that the number of ballots counted in the audit of the 2020 general election differs from the tally ...
- Pennsylvania Sen. Mastriano Invited Biden to Meet, Discuss Election Audit
By Beth Brelje
In anticipation of President Joe Biden’s Tuesday visit to Philadelphia to discuss voter rights, Pennsylvania state Senator Doug Mastriano, a Republican, sent a letter ...
- Semiconductors Key to US Supremacy in High-Tech War
By Emel Akan
WASHINGTON—The global semiconductor shortage during the pandemic has intensified the battle for technological dominance between the world’s two largest economies.
Supply chain shocks ...
- Texas House Republicans Vote to Track Down Absent Democrats, Potentially Arrest Them
By Jack Phillips
Texas House Republicans on Tuesday voted to track down and possibly arrest absent Democratic lawmakers who fled the state to avoid voting on ...
- DeSantis: Disrespected Police Officers Can Relocate to Florida
By Jack Phillips
Florida Gov. Ron DeSantis said on July 12 that police officers from around the United States are welcome to relocate to Florida for ...
- Texas Democrats Plan Walkout to Block GOP’s Election Overhaul Bill: Party Chairman
By Jack Phillips
Democrat lawmakers in Texas will walk out in a bid to deny Republicans the quorum they need to convene a special legislative session called ...
![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")
