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By Paul Steinhauser | Fox News
Underscoring what’s at stake for his White House bid when Michigan and five other states hold Democratic presidential nomination contests on Tuesday, Sen. ...
- Mark Meadows, Trump’s incoming chief of staff, to self-quarantine over coronavirus fears
By Edmund DeMarche | Fox News
Mark Meadows, President Trump’s incoming White House chief of staff, may have come in contact with the Conservative Political Action Conference attendee who ...
- Trump camp fires back after Twitter labels Biden video ‘manipulated’
By Gregg Re | Fox News
EXCLUSIVE: The Trump campaign has sent a scathing letter to Twitter’s leadership after the platform took the unprecedented step of labeling one of its ...
- Bernie Sanders, at Fox News Town Hall, hits Clinton for efforts to ‘relive’ 2016, Biden for backing ‘crooks’
By Gregg Re | Fox News
As his struggling campaign seeks a big win in Michigan’s Tuesday primary, Bernie Sanders took the stage at a Fox News Town Hall ...
- Biden’s brother facing fraud allegations, used family ties to advance business interests: report
By Ronn Blitzer | Fox News
A new report reveals legal problems and allegations of possible fraud involving former Vice President Joe Biden’s brother James, in the latest ...
- New Jersey security guard arrested over licensed gun, legal ammo
By Stephen Gutkowski | Washington Free Beacon
A New Jersey gun owner is fighting charges for carrying a firearm for which he had a permit and ammunition state police ...
- Klobuchar ‘ticket’ slip-up at Biden event in Michigan sparks speculation she’ll be his VP pick
By Brie Stimson | Fox News
Is her “ticket” punched for a ride on the Biden train?
Sen. Amy Klobuchar, D-Minn., sparked vice-presidential speculation Saturday when she said she ...
- GOP Rep. Elise Stefanik blasts ‘radical Far-Left’ after finding ‘vile’ note on car while grocery shopping
By Dom Calicchio | Fox News
U.S. Rep. Elise Stefanik, a third-term congresswoman from New York State who drew national attention for defending President Trump during impeachment hearings on Capitol Hill last year, ...
- CPAC attendee tests positive for coronavirus; White House says Trump, Pence not in close proximity
By Melissa Leon | Fox News
The American Conservative Union (ACU), which hosts the high-profile Conservative Political Action Conference (CPAC), confirmed Saturday that one of this year’s conference attendees has ...
- ‘Squad’ renews calls to abolish death penalty after execution of convicted Alabama cop killer
By Adam Shaw | Fox News
The left-wing congresswomen known as the “Squad” are renewing their calls for the abolition of the death penalty after the execution this week ...
- Charlie Kirk: This is why millennials will flee Bernie Sanders
By Julia Musto | Fox News
EXCLUSIVE: The youth of America is turning away from the radical left and Democratic socialists like Vermont Sen. Bernie Sanders in favor of conservative ideals, Turning Point USA President Charlie ...
- Loaded gun found in jail where Jeffrey Epstein killed himself
By Associated Press
Federal investigators found a loaded gun Thursday that had been smuggled into the jail where Jeffrey Epstein killed himself last summer, following a weeklong ...
![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")
