- Heritage Foundation bewildered by Biden claim about Trump tax cuts
By Gregg Re, Patrick Ward | Fox News
The conservative Heritage Foundation reacted with bewilderment on Wednesday after Joe Biden claimed that the think tank had condemned the 2017 Trump-GOP ...
- Ilhan Omar issues terse denial on allegations of affair with married DC consultant
By Ronn Blitzer | Fox News
Minnesota Democratic Rep. Ilhan Omar is denying allegations of an affair with a married Washington, D.C., consultant.
The accusations emerged earlier this week in a ...
- Trump demands apology from NBC News over ‘false and defamatory’ report, threatens legal action in scorching letter
By Brian Flood | Fox News
President Trump’s legal team sent a harshly worded letter to NBC Wednesday demanding an apology and retraction for “false and defamatory, and extremely damaging” ...
- AOC suggests ‘informed’ millennials are first generation to protest government, forgets about the ‘60s
By Ronn Blitzer | Fox News
Rep. Alexandria Ocasio-Cortez made some bold claims in her latest Instagram Live video, suggesting millennials and Generation Z are better “informed” and more well-versed ...
- Winter to feature ‘Polar Coaster’ mix of frigid temperatures, snow: Farmers’ Almanac
By Travis Fedschun | Fox News
Enjoy the last days of summer, because a wild ride apparently is in store this winter.
The Farmers’ Almanac is predicting that “bitterly cold ...
- 2020 Democrats fume at DNC over debate criteria crackdown
By Paul Steinhauser | Fox News
With the deadline to qualify for next month’s third round of Democratic presidential debates closing in, the Democratic National Committee is facing an ...
- Millennials care less about patriotism, religion and family than previous generations, study says
By Brian Flood | Fox News
Millennials don’t value patriotism, family and religion as passionately as previous generations, according to a new survey.
“The values that Americans say define the national ...
- Sanders campaign co-chair says Biden ‘regretted’ Obama assassination comment
By Andrew O’Reilly | Fox News
The co-chair of Bernie Sanders’ election campaign dodged a question on Sunday about former Vice President Joe Biden’s recent gaffes while on the stump by ...
- CNN Faces Heat for Hiring Fired FBI Official Andrew McCabe as Contributor
BY JANITA KAN
CNN announced on Aug. 23 that fired FBI Deputy Director Andrew McCabe has joined the network as a contributor, a decision that quickly drew backlash ...
- Ex-Overstock CEO Patrick Byrne says he got ‘fishy’ orders from Peter Strzok; former acting AG unsure of claims
By Charles Creitz | Fox News
Overstock founder and CEO Patrick Byrne, who resigned Thursday amid ties to a government probe related to the 2016 election, claimed he received “fishy” ...
- More GSA debauchery: Probe finds ex-official had sex on agency’s roof with White House staffer
By Judson Berger | Fox News
The same agency that sparked a firestorm during the Obama administration for lavish spending at a Vegas conference – complete with a widely ...
- Moulton ends long-shot White House bid, in latest 2020 Dem drop-out
By Paul Steinhauser | Fox News
Rep. Seth Moulton of Massachusetts repeatedly has said he’s not a quitter.
But on Friday, the three-term congressman and U.S. Marine veteran who ...
![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")
