- Jeff Flake joins over two-dozen former GOP members of Congress to launch ‘Republicans for Biden’
By Brooke Singman | Fox News
Announcement comes on the first day of the Republican National Convention.
More than two-dozen former Republican members of Congress threw their support ...
- NYC restaurant owner: Restaurants will not ‘survive the year’ with de Blasio dismissing indoor dining
By Angelica Stabile FOXBusiness
‘It will devastate us,’ restaurateur Massimo Felici said.
New York City Mayor Bill de Blasio admitted Friday that he has no plan to reopen indoor dining ...
- Navarro slams Biden as siding with credit card companies over consumers with 2005 bankruptcy bill
By Evie Fordham FOXBusiness
White House trade adviser criticizes Biden’s support for the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act.
White House trade adviser Peter Navarro slammed Democratic presidential ...
- Tennessee ramps up punishments for protesters, including loss of voting rights
By Caitlin McFall | Fox News
Tennessee’s Republican governor quietly signed a bill earlier this week creating harsher punishments for protesters, including increased jail time and loss of voting ...
- Rep. Elise Stefanik to target Biden’s ‘failed record’ in prime-time GOP convention speech: reports
By Dom Calicchio | Fox News
House member plans to compare Trump’s ‘record of results’ to Biden’s ‘failed’ far-left policies.
U.S. Rep. Elise Stefanik of New York, considered by ...
- House Democrats push forward with $25B Post Office bill, GOP dismisses rare Saturday vote as a ‘joke’
By Marisa Schultz | Fox News
White House already threatened a veto on the legislation.
The House of Representatives kicked off heated debate Saturday morning over a $25 billion ...
- Pence says economy and ‘law and order’ on ballot as Dems launch ‘ad hominem attacks’ on president
By Tyler Olson | Fox News
The vice president said Democrats have been ‘overtaken by the radical left’.
Vice President Mike Pence in a Friday interview framed the upcoming presidential election as a ...
- Joe Biden’s 2020 tax plan: The key points
By Brittany De Lea FOXBusiness
Biden says the tax code should be more progressive and equitable.
President Trump, who is running for reelection on a record of ...
- Fly steals Bloomberg’s thunder by landing on his face during DNC speech
By Sam Dorman | Fox News
A fly previously graced Hillary Clinton’s forehead during a 2016 presidential debate.
A special guest buzzed its way into Mike Bloomberg’s speech Thursday night ...
- Trump backers slam Dems’ ‘socialist snoozefest’ as 4-night convention concludes
By Brie Stimson | Fox News
“‘Vote for me because I’m not Trump’ is not a winning message” Katrina Pierson says.
Democrats may have been thrilled with their ...
- Trump mocks Biden’s Scranton roots ahead of convention speech: ‘He abandoned Pennsylvania’
By Andrew O’Reilly | Fox News
“Joe Biden is a puppet of the radical left movement that seeks to destroy the American way of life,” Trump said.
Hours ...
- Trey Gowdy reacts to Steve Bannon arrest, says indictment indicates a ‘classic fraud scheme’
By Talia Kaplan | Fox News
‘He has been indicted, that’s the first step, let’s see what a jury of 12 does with it’.
The charges against former White ...
![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")
