- Pelosi backs Joe Kennedy in Senate primary against liberal incumbent, draws AOC scorn
By Marisa Schultz | Fox News
Progressives call out ‘hypocrisy’.
House Speaker Nancy Pelosi on Thursday endorsed challenger Joe Kennedy over liberal incumbent Ed Markey in the Massachusetts Senate primary, a ...
- Tara Reade speaks out on Democratic convention, says party ‘complicit’ in ‘gaslighting’ survivors
By Joseph A. Wulfsohn | Fox News
Biden accuser said she would ‘absolutely’ speak at GOP convention upon an invitation.
Tara Reade, who rocked the presidential primary race ...
- Trump Pennsylvania speech to attack Biden on trade, energy, immigration
By Brooke Singman, John Roberts | Fox News
Biden has spent the last half century ‘ripping off’ residents and workers of Pennsylvania, Trump is expected to say.
President Trump is expected ...
- Warren’s kid-block background spells out almost-hidden message in convention speech
By Caitlin McFall | Fox News
Prominent message sits over Warren’s shoulder as she voices support for Biden-Warren ticket.
Sen. Elizabeth Warren, D-Mass., appeared in a virtual speech ...
- Biden campaign distances itself from former Women’s March leader Sarsour after DNC appearance
By Ronn Blitzer | Fox News
A spokesman says Sarsour ‘has no role’ in the campaign.
Democratic presidential nominee Joe Biden’s campaign said it has nothing to do with former Women’s ...
- Gretchen Whitmer mouths expletive on ‘hot mic,’ compares DNC to ‘Shark Week’ before convention speech
By Danielle Wallace | Fox News
“It’s not just Shark Week … it’s Shark Week mother f—er,” Whitmer said.
Michigan Gov. Gretchen Whitmer was caught on a “hot mic” Monday mouthing ...
- Ocasio-Cortez Nominates Sanders, Doesn’t Mention Biden in DNC Speech
By Nicholas Ballasy
Rep. Alexandria Ocasio-Cortez on Tuesday night at the Democratic National Convention nominated Sen. Bernie Sanders for president and applauded his supporters for working toward “guaranteed health ...
- Trump Campaign Sues New Jersey Over Mail-in Ballots
By Tom Ozimek
The campaign to reelect President Donald Trump has sued New Jersey authorities after Gov. Phil Murphy issued an executive order facilitating widescale mail-in balloting for November’s ...
- Virginia State Senator Turns Herself in to Face Charges Over Statue Toppling Incident
By Jack Phillips
Virginia state Sen. Louise Lucas turned herself in on Tuesday to the sheriff’s office after she was charged in connection to the dismantling ...
- Jill Biden’s ex-husband accuses her of affair with Joe Biden in 1970s
By Ebony Bowden, Aaron Feis | New York Post
Jill Biden’s ex-husband has accused the potential first lady of having an affair with Joe Biden and says they lied about how they ...
- Manhunt underway for attacker in Portland truck assault: police
By Stephanie Pagones | Fox News
Portland police on Tuesday identified a suspect in Sunday night’s attack on a truck driver who was seen on video being pulled from the ...
- Trump: Susan B. Anthony to get posthumous pardon
By Julia Musto | Fox News
Anthony was arrested in 1872 for voting illegally and sentenced to pay a fine of $100 and court costs.
President Trump announced Tuesday ...
![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")
