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By Jack Phillips
Texas Attorney General Ken Paxon said he will sue the Biden administration over its “illegal deportation freeze.”
“Border states like Texas pay a particularly ...
- Trump Makes First Public Comments Since Leaving Office
By Jack Phillips
Former President Donald Trump said Friday in his first public comments since leaving office that he’ll make a comeback in some way but didn’t ...
- Twitter Sued by Child Sex Trafficking Victim
By Gary Du
A sex trafficking victim has filed a lawsuit against Twitter in a U.S. district court in California, alleging that the social media ...
- Articles of Impeachment Filed Against Biden by GOP Rep. Marjorie Taylor Greene
By Mimi Nguyen Ly
Newly-elected Rep. Marjorie Taylor Greene (R-Ga.) on Jan. 21 announced she has introduced articles of impeachment against the new president, Joe Biden.
The articles of impeachment ...
- Sen. Rand Paul: For America to Begin to Heal and Unite, Senate Must Halt Impeachment
By Masooma Haq
Senator Rand Paul (R-Ky.) has said that for the United States to begin truly healing, President Joe Biden should publicly call on ...
- Pelosi: House Will Move Immediately on Pandemic Relief
By Jack Phillips
House Speaker Nancy Pelosi (D-Calif.) said the House of Representatives will move immediately on passing a pandemic spending package.
In a news conference on Thursday, ...
- Biden Administration Took Several Big Steps in Wrong Direction on First Day: McConnell
By Zachary Stieber
President Joe Biden’s administration took steps in the wrong direction on Biden’s first day in office, Senate Republican Leader Mitch McConnell (R-Ky.) said Thursday.
“The president ...
- Powerball Jackpot Winner Worth $731.1M Sold in Maryland
By The Associated Press
DES MOINES, Iowa—A single Powerball ticket sold in Maryland is the winner of an estimated $731.1 million jackpot, the first to get the top prize ...
- Collaboration Between Government and Big Tech Giving Rise to Totalitarianism, Experts Warn
By Petr Svab
News Analysis
The formation of a totalitarian state is just about complete in America as the most powerful public and private sector actors ...
- Twitter Shares Fall Even More Following Trump Ban
By Jack Phillips
Twitter shares—since President Donald Trump’s permanent ban—slid even more on Monday.
As of Monday at around 11:20 a.m. ET, the San Francisco-based company’s stock was trading at ...
- My Pillow CEO Says Bed Bath and Beyond, Kohl’s to Stop Selling His Products
By Zachary Stieber
My Pillow products won’t be carried in Kohl’s or Bed Bath & Beyond any longer, the company’s CEO says.
CEO Mike Lindell said Monday that ...
- Trump’s 1776 Commission Calls for National Unity Around America’s Founding Values
By GQ Pan
President Donald Trump’s advisory 1776 Commission on Monday released a public report, fulfilling its task to revisit the nation’s founding history in an ...
![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")
