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WASHINGTON—President-elect Donald Trump spoke at a rally on Sunday, the eve of Inauguration Day, at the Capitol One Arena in downtown Washington.
At ...
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Two broad ways to define President Joe Biden’s energy legacy are through policy influence going forward and public perception going backward.
On one ...
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For the past decade, Jennifer Krazinski felt safe living in a home “tucked away, off of a dirt road,” in Hewitt, a ...
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The U.S. Federal Reserve is exiting a global climate change coalition days before the new Trump administration is set to take power ...
- Trump Inaugural Events Kick Off Today: What to Know
By Jacob Burg
Four days of celebrations surrounding President-elect Donald Trump’s second inauguration start on Jan. 18. They begin with a reception and fireworks at ...
- Laken Riley Act Advances to Final Vote in Senate
By Stacy Robinson
WASHINGTON—The Senate on Jan. 17 advanced a bill that requires the Department of Homeland Security (DHS) to detain illegal immigrants arrested for ...
- Ohio Lt. Gov. Jon Husted Appointed to Fill JD Vance’s Senate Seat
By Jeff Louderback
Ohio Republican Gov. Mike DeWine named Lt. Gov. Jon Husted to fill Vice-President-elect JD Vance’s U.S. Senate seat in a Jan. 17 ...
- Trump Inauguration Moved Indoors Due to Freezing Conditions
By Jackson Richman
The Jan. 20 inauguration of President-elect Donald Trump has been moved indoors due to extreme cold weather.
“It is my obligation to protect ...
- DeSantis Chooses Florida AG Ashley Moody to Replace Rubio in Senate
By T.J. Muscaro
Florida Gov. Ron DeSantis on Jan. 16 announced that Ashley Moody, Florida’s attorney general, will replace Sen. Marco Rubio in the U.S. ...
- California Abandons Regulations Phasing Out Diesel Trucks
By Travis Gillmore
California’s Air Resources Board sent a letter on Jan. 14 to the U.S. Environmental Protection Agency, withdrawing its prior waiver request that would ...
- California Rep. Judy Chu Urges FEMA to Change Handling of Disaster Assistance Claims
By Katabella Roberts
Rep. Judy Chu (D-Calif.) is urging FEMA to change their handling of disaster assistance claims amid the ongoing fires in Southern California, ...
- House Passes Bill Banning Men From Women’s Sports
By Stacy Robinson
WASHINGTON—The House passed the Protection of Women and Girls in Sports Act on Jan. 14, with a vote of 218-206. The legislation ...
![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")
