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By Andrew Thornebrooke
News Analysis
Social media giant TikTok is aggressively lobbying in Washington ahead of congressional hearings on the company’s ties to China’s communist regime.
TikTok ...
- ‘Totally Exculpatory’: Trump Reveals Cohen Attorney Letter He Says Will Undercut Manhattan DA’s Case
By Gary Bai
Former President Donald Trump on Wednesday revealed a letter that he says is “totally exculpatory” evidence proving his innocence in the Stormy ...
- Manchin Says Biden’s ‘Radical’ ESG Agenda Is ‘Absolutely Infuriating,’ Undermines National Security
By Tom Ozimek
Senator Joe Manchin (D-W.Va.) sharply criticized the Biden administration on Monday after President Joe Biden vetoed bipartisan legislation aimed at blocking a ...
- DeSantis Says He Could Win in 2024, but Stops Short of Announcing a Run
By Katabella Roberts
Florida Gov. Ron DeSantis has touted his ability to defeat President Joe Biden in the 2024 elections if he enters the presidential race.
In ...
- Trump Says Key Witness ‘Told the Truth’ and Left ‘Great’ Impression on Manhattan Grand Jury
By Jack Phillips
Former President Donald Trump said that his former attorney, Michael Cohen, isn’t a credible witness as another Trump-affiliated lawyer, Robert Costello, indicated ...
- Senate Votes to Begin Debate on Bill Repealing Iraq War Authorizations
By Jackson Richman
The Senate voted on March 21 to advance a repeal of two U.S. authorizations for military action against Iraq.
The upper congressional chamber ...
- Ahead of Potential Trump Indictment Manhattan DA Faces Questions Over ‘Tenuous and Untested’ Legal Theory
By Janice Hisle
America’s 45th president, Donald Trump, appears poised to become the nation’s first president to be indicted on criminal charges. Such a prosecution ...
- Judge Blocks 1999 California Law Requiring Specific Safety Features for Handguns
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A federal judge has granted a preliminary injunction against key parts of California’s Unsafe Handgun Act that would require new semiautomatic handguns to be ...
- House Republicans Demand Testimony From Manhattan DA Behind Potential Trump Arrest
By Joseph Lord
House Judiciary Committee Chairman Jim Jordan (R-Ohio) is demanding answers from a New York district attorney reportedly planning to arrest former President ...
- Dershowitz: Manhattan DA Using ‘Made-Up Laws’ in Trump Case
By Gary Bai
Manhattan District Attorney Alvin Bragg’s reported impending prosecution of former President Donald Trump is based on “made-up laws,” according to prominent legal ...
- Trump Says a ‘Most Important Witness’ to Testify Before NYC Grand Jury
By Lorenz Duchamps and Jack Phillips
Former President Donald Trump praised recent reports that a lawyer who briefly acted as a legal adviser to Michael ...
- Trump Accuses Manhattan DA of ‘Prosecutorial Misconduct,’ Calls for Investigation
By Jack Phillips
Former President Donald Trump on Sunday accused Manhattan District Attorney Alvin Bragg of misconduct over his office’s investigation into an alleged hush money ...
![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 9")
