- It’s ‘Guaranteed’ Americans Earning Less Than $400,000 Will Be Hounded by IRS: Rep. Scalise
By Tom Ozimek
Rep. Steve Scalise (R-La.) said that the Democrat spending bill that boosts IRS funding is “guaranteed” to squeeze more tax revenue from middle- and ...
- Trump Lawyer Says Former President Unfazed by FBI Raid
By Jack Phillips
A lawyer for former President Donald Trump said the ex-commander-in-chief is not fazed by the recent FBI raid on his Florida home.
“He is a very resilient ...
- Sen. Chuck Grassley: Senate Will Investigate FBI Trump Raid If GOP Takes Majority
By Jack Phillips
Sen. Chuck Grassley (R-Iowa) said he intends to investigate the FBI’s raid of former President Donald Trump’s Mar-a-Lago resort if Republicans take back the ...
- Rand Paul Says US Espionage Act Should Be Abolished After Trump Raid
By Jack Phillips
Sen. Rand Paul (R-Ky.) called for a repeal of the 100-year-old Espionage Act after the FBI’s raid of former President Donald Trump’s home on Aug. 8.
A ...
- Trump Raid: Garland, Wray Must Testify Before Congress Over ‘Unbelievable’ Act, Says Jim Jordan
By Tom Ozimek
Rep. Jim Jordan (R-Ohio) said the FBI search of former President Donald Trump’s Mar-a-Lago home was “unbelievable” and “unprecedented,” while demanding that ...
- Democrats, FBI Colluding to Destroy Trump, Rep. Nehls Says
By Katie Spence
Democrats have one priority, and it’s not the United States, Rep. Troy Nehls (R-Texas) says. Instead, Democrats want to destroy former President Donald ...
- Rep. Marjorie Taylor Greene Files Articles of Impeachment Against Attorney General Merrick Garland
By Caden Pearson
Rep. Marjorie Taylor Greene (R-Ga.) announced Friday that she filed articles of impeachment against U.S. Attorney General Merrick Garland, who said that he ...
- How the FBI Undercounts Armed Citizen Responders to Mass Killers—and Media Play Along
By John R. Lott Jr. and Real Clear Investigations
The shooting that killed three people and injured another at a Greenwood, Indiana, mall on July 17 drew ...
- Trump spy chief on classified documents: ‘Virtually impossible to prosecute’
By Ryan King, Breaking News Reporter
Former Director of National Intelligence John Ratcliffe argued that it is “virtually impossible” to prosecute his onetime boss, former President Donald Trump, ...
- Judge Unseals Mar-a-Lago Raid Warrant, Reveals Why FBI Is Investigating Trump
By Jack Phillips
The seven-page warrant that authorized the FBI to search former President Donald Trump’s property earlier this week was unsealed Friday, and it shows that Trump is ...
- Trump and Family Watched FBI Mar-a-Lago Raid
By Jack Phillips
Former President Donald Trump and members of his family watched the FBI raid of his Mar-a-Lago property via security cameras, his lawyer Christina Bobb ...
- Democrats Barreling Ahead on Inflation Reduction Act Without Input From Congressional Budget Office
By Joseph Lord
House Democrats are moving forward with an Aug. 12 vote on the $700 billion Inflation Reduction Act despite the lack of Congressional Budget Office (CBO) scores—meaning that the ...
![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")
