- Abbott Calls on Democratic Party Official to Resign Following ‘Disgusting’ Racial Slur Against Sen. Scott
By Isabel Van Brugen
Texas Gov. Greg Abbott on Sunday called on a state Democratic Party official to resign after he referred to Sen. Tim Scott (R-S.C.) as ...
- Voters Advance 2 Republicans, No Democrats in Texas Special Election Runoff Race
By Jack Phillips
Two Republicans will advance to a runoff as the top two vote-getters in the race for Texas’s 6th Congressional District, after no one in the 23-candidate ...
- Former Security Adviser: John Kerry Undermined Trump in Unapproved Iran Talks
By Ivan Pentchoukov
Former Secretary of State John Kerry repeatedly undercut President Donald Trump’s foreign policy towards Iran during unauthorized talks with senior Iranian officials, according to Keith Kellogg, the former ...
- House Republicans Question Biden Administration on ‘Questionable’ Census Results
By Zachary Stieber
A group of House Republicans questioned whether political interference contributed to what they describe as questionable results from the recently completed 2020 ...
- Manchin Opposes Washington Statehood Bill, Says ‘Let the People of America Vote’
By Tom Ozimek
Sen. Joe Manchin (D-W.Va.) said Friday that he does not support a bill that would make Washington D.C. the nation’s 51st state, dealing a ...
- Tennessee Legislature Passes Bill Requiring Watermarks on Absentee Ballots
By Jack Phillips
Tennessee’s Legislature approved a bill that requires the addition of a watermark on all absentee ballots in a nearly unanimous vote.
Senate Bill 1314 passed ...
- Twitter Stock Drops After Weak Quarter, Missing Target on User Growth
By Jack Phillips
Twitter’s stock dropped about 13 percent on Friday to $56.74 per share after the firm issued weak second-quarter guidance on revenue growth ...
- John Kerry Financial Disclosures Show Millions in Income From Stocks, Including Oil Companies
By Tom Ozimek
John Kerry, special presidential envoy on climate at the State Department, has disclosed millions of dollars in income from stocks—including of oil ...
- McCarthy Says Biden’s Massive Tax-and-Spend Plans Make Bernie Sanders ‘Look Like a Conservative’
By Tom Ozimek
House Minority Leader Kevin McCarthy (R-Calif.) on Thursday sharply criticized President Joe Biden’s massive early-term spending proposals, comparing the president to one of ...
- South Dakota Gov. Kristi Noem Sues Biden Admin Over Independence Day Fireworks Cancellation
By Samuel Allegri
Republican South Dakota Gov. Kristi Noem sued the Biden administration on April 30 over their cancellation of Independence Day fireworks at Mount Rushmore this ...
- NJ Lawmaker Proposes Using CARES Funds for Property Tax Relief Instead of Stimulus Payments for Illegal Immigrants
By Ella Kietlinska
New Jersey Assemblyman Gerry Scharfenberger, a Republican, proposed in April a bill urging the governor to reconsider diverting $40 million in federal ...
- Florida House Approves GOP-Backed Election Integrity Bill
By Jack Phillips
The Republican-controlled Florida House of Representatives approved a voting measure that Republicans say would enhance election integrity in the state.
The bill passed in a ...
![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 5")
