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By Jack Phillips
Pentagon spokesman John Kirby on Tuesday acknowledged that Americans were stranded in Afghanistan despite earlier comments to the contrary made by White House officials. He ...
- American Humane group says US left military dogs behind in Afghanistan
By Yaron Steinbuch
An animal rights group slammed the Biden administration after the US military was accused of leaving its contract dogs behind in Afghanistan ...
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By Masooma Haq
Senate Minority Leader Mitch McConnell (R-Ky.) criticized President Joe Biden’s decision to completely withdraw from Afghanistan, calling it “one of the worst ...
- Vulnerable Democrats in Congress Distance Themselves From Biden
By Joseph Lord
As the 2022 midterm elections loom nearer, Democrats in vulnerable House and Senate seats are distancing themselves from President Joe Biden over his handling ...
- New Orleans Entirely Without Power, 911 Service Due to Ida: Officials
By Jack Phillips
All of New Orleans, Louisana, is now without power due to Hurricane Ida, according to the city’s emergency preparedness campaign.
Entergy, the main utility for ...
- Gas Prices to Rise as Hurricane Ida Shuts Down 95 Percent of Gulf’s Oil Production
By Jack Phillips
Hurricane Ida shut down more than 95 percent of the Gulf of Mexico’s oil production, said regulators, suggesting the Category 4 storm will have ...
- 47 Victims Rescued, 102 Arrested in Multi-State Human Trafficking Operation
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A human trafficking operation joined by 12 states has rescued 47 victims and arrested 102 people, Missouri Attorney General Eric Schmitt announced on Aug. ...
- ‘Not a Day for Politics’: Psaki Answers US Lawmakers’ Calls for Biden to Resign
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White House Press Secretary Jen Psaki on Thursday responded to calls from U.S. lawmakers urging President Joe Biden to resign after 13 U.S. service ...
- Supreme Court Blocks CDC Eviction Moratorium
By Mimi Nguyen Ly
Evictions to resume amid COVID-19 pandemic.
The U.S. Supreme Court on Thursday blocked the Centers for Disease Control and Prevention’s eviction moratorium, thereby opening the ...
- The Era of ‘Zuckbucks’ in Florida Election Administration Ends
By Matthew Vadum
The last of three Florida counties that took grant monies from a left-wing activist group funded by Facebook founder Mark Zuckerberg to help administer ...
- NY Still Needs to Come Clean on COVID-19 Nursing Home Deaths Scandal: Report
By Petr Svab
The government of the State of New York still has more explaining to do and heads that should roll regarding the decision ...
- Healthcare Workers Pack Hearing to Support Bill to Ban Vaccine Mandates in Michigan
By Steven Kovac
LANSING, Mich.—A public hearing on a proposed new law to ban employers from requiring workers to be vaccinated against the CCP (Chinese Communist ...
![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")
