- Advocates Fear Biden Policies Could Undo Trump-Era Protections for Religious Liberty
By Janita Kan
President Joe Biden’s first day in office was marked by a flurry of executive orders. Among those was an order addressing discrimination on the ...
- California Officials Say the State’s Unemployment Benefits Fraud Could Top $11 Billion
By GQ Pan
California may have sent out as much as $11 billion in pandemic unemployment benefits to fraudsters, officials said Monday.
According to a press release (pdf), California’s ...
- Trump Endorses Sarah Huckabee Sanders’s Bid for Governor of Arkansas
By Isabel Van Brugen
Former President Donald Trump on Monday night publicly endorsed Sarah Huckabee Sanders in her run for Arkansas governor, saying she will “always fight” ...
- 45 Republican Senators Vote Against Trump Impeachment Trial, Say It’s Unconstitutional
By Jack Phillips
The 55–45 decision suggests that Trump will not be convicted in an impeachment trial.
Forty-five Republican senators voted against holding an impeachment trial of former ...
- Trump Creates ‘Office of the Former President’ to Advance US Interests, Carry on Trump Admin Agenda
By Mimi Nguyen Ly
Former President Donald Trump opened an “Office of the Former President” on Monday that seeks to advance the interests of the United States ...
- MyPillow Creator Could Run for Governor of Minnesota, Claims Trump Endorsement
By Jack Phillips
Mike Lindell, the inventor of My Pillow, said he might run for governor of Minnesota, adding that he was promised an endorsement ...
- First Amendment Rights Being Eroded by Technocrats: Director of Citizens for Free Speech
By Ella Kietlinska and Joshua Phillipp
The increased censorship of people’s views expressed on social media by Big Tech companies has been part of an ...
- Growing Number of Republican Senators Oppose Holding Trump Impeachment Trial
By Zachary Stieber
An increasing number of Republican senators are voicing opposition to holding an impeachment trial against former President Donald Trump, leaving Democrats’ ability to swing enough ...
- Grenell: Trump Wants to Run for President Again
By Zachary Stieber
Former President Donald Trump has said more than once that he wants to run for the presidency again after losing the 2020 election, an ...
- Sarah Sanders, Former Trump Aide, Announces Run for Arkansas Governor
By Zachary Stieber
Ex-Donald Trump aide Sarah Sanders on Monday announced she’s running to be governor of Arkansas.
“America is great because we are free. But today, ...
- Constitutional Amendment to Prevent Supreme Court Packing Resurfaces
By Matthew Vadum
Sen. Shelley Moore Capito (R-W.Va.) introduced legislation Jan. 22 to amend the U.S. Constitution to limit the Supreme Court to nine justices, the numerical ...
- Michigan Rep. Upton Unanimously Censured by County GOP for Impeachment Vote
By Jack Phillips
A Michigan county’s Republican Party voted to censure Rep. Fred Upton (R-Mich.) for his vote to impeach former President Donald Trump earlier this month.
During ...
![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")
