- Trump Attends Starship Launch With Musk
By T.J. Muscaro
President-elect Donald Trump attended the latest launch of Elon Musk’s Starship on Nov. 19 in South Texas.
Reports and speculations emerged earlier about ...
- Court Dismisses California’s Lawsuit Against City’s Voter ID Law
By Jill McLaughlin
The California Supreme Court ruled on Nov. 15 to toss out the state’s lawsuit against Huntington Beach’s voter ID law, but the ...
- AG Merrick Garland Urges Prosecutors to Protect DOJ’s Mission After Leaving Office
By Jack Phillips
Attorney General Merrick Garland on Monday urged prosecutors to protect the Department of Justice’s (DOJ’s) “mission,” in his first remarks since President-elect ...
- Challenger Overtakes Michelle Steel in Congressional Race by 36 Votes
By City News Service
SANTA ANA, Calif.—Democratic challenger Derek Tran holds his first lead over Republican Rep. Michelle Steel Sunday in the 45th Congressional District ...
- Trump Confirms He’s Prepared to Declare National Emergency to Initiate Mass Deportations
By Jack Phillips
President-elect Donald Trump confirmed on Nov. 18 that he will declare a nationwide emergency to carry out mass deportations of illegal immigrants, ...
- House Speaker Leaves Door Open to Recess Appointments for Trump’s Cabinet Picks
By Jack Phillips
House Speaker Mike Johnson (R-La.) on Sunday said he is open to allowing recess appointments of President-elect Donald Trump’s Cabinet selections outside ...
- Election Ballots Shed New Light on Cursive Writing Debate
By Aaron Gifford
Election workers, attempting to verify ballots in the 2024 presidential election race, ran into difficulties and delays because signatures on mail-in ballots ...
- Meet Adam Smith, the Green Beret Behind North Carolina’s ‘Redneck Air Force’
By Samantha Flom
SWANNANOA, N.C.—“They’re probably dead.”
That was the thought running through Adam Smith’s mind as he raced to find a way to save his ...
- Here’s Why Counting Ballots Takes Longer in California
By Travis Gillmore
California elections officials are following new and established state laws and vote tallying processes that some say are extending the time it ...
- Net-Zero Rollback: How Trump Might Achieve De-regulation Goals
By Kevin Stocklin
President-elect Donald Trump won the election on, among other things, pledges to roll back the regulations that were put in place under ...
- US Households Must Earn Nearly $108,000 to Afford a Median-Priced Home: Report
By Naveen Athrappully
Housing affordability has dropped considerably in major American metros, according to the latest data published by Oxford Economics in a Nov. 11 ...
- Republicans Sue to Prevent Counting of Undated Ballots in Pennsylvania Senate Race
By Sam Dorman
Republicans have asked the Pennsylvania Supreme Court to intervene in the state’s Senate race, alleging that several counties are violating the court’s ...
![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")
