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Billionaire Elon Musk took a shot at President Joe Biden on Monday and questioned whether he is actually in charge.
During a podcast interview, Musk, the head ...
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By Gary Bai
The world’s richest man Elon Musk said on Monday he will be voting for Republicans in upcoming elections.
Musk did not elaborate whether he was ...
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By John Haughey and Zachary Stieber
WASHINGTON—A Hillary Clinton campaign lawyer aimed to influence the 2016 presidential election when he conveyed allegations about then-presidential candidate Donald Trump and ...
- Key NIH Research Executive Received 70 Secret Royalty Payments; Colleague Got 7
By Mark Tapscott
Two key National Institutes for Health (NIH) executives in positions of influence on decisions about who gets grants from the agency received ...
- Michael Flynn Files $50 Million Claim Against Federal Government in Preview of Potential Lawsuit
By Jack Phillips
Retired Lt. Gen. Michael Flynn filed a $50 million claim against the Department of Justice and FBI, claiming they engaged in “malicious ...
- Newly Redrawn Draft of New York Congressional Map Deals Blow to Democrats, Increases Competition
By Katabella Roberts
New York courts on Monday released a draft map of redrawn congressional districts in the state that would make it harder for Democrats to compete ...
- Fauci Reveals What He Would Do If Trump Is Reelected
By Jack Phillips
White House COVID-19 adviser Anthony Fauci revealed what he would do if former President Donald Trump wins the presidency in 2024.
Speaking to CNN on Sunday, when ...
- Melania Trump Says Baby Formula Crisis Is ‘Heartbreaking to See’
By Frank Fang
Former First Lady Melania Trump said a lack of “leadership” is to blame for families facing a shortage of baby formula.
“It’s heartbreaking to ...
- California Church Congregants Hogtied Shooting Suspect Until Police Arrived
By Vanessa Serna
LAGUNA WOODS, Calif.—Taiwanese parishioners likely saved many after they hogtied a gunman who opened fire, killing one and injuring five, at an ...
- Trevor Loudon Exposes Marxist Groups, Foreign Connections Behind Mass Voting Drives
By Ella Kietlinska and Joshua Philipp
The recently released documentary “2000 Mules” by Dinesh D’Souza shows that there were about 2,000 individuals who received ballots from various nonprofit ...
- At Least 10 Dead in ‘Mass Shooting’ at Upstate NY Supermarket, Suspect in Custody
By Web Staff
At least 10 people were killed, 13 people were shot in a “mass shooting” at a supermarket in Buffalo, New York, on Saturday and ...
- Big Tech, Major Websites Are Caught Swiping Personal Data Without Consent
By Bryan Jung
Researchers from KU Leuven, Radboud University, and the University of Lausanne conducted a study that found tens of thousands of websites captured—without permission—every word ...
![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 8")
