- Head of US Energy Alliance Says Biden Administration’s Energy Policies Are Driving up Costs of Oil and Gas
By Masooma Haq and Steve Lance
While the pandemic has spurred demand, leading to increased energy prices, the Biden administration’s reliance on imports is a greater contributor to ...
- US Secret Service Investigating Hundreds of Fraud Cases Linked to Funds for Pandemic Relief
By Naveen Anthrappully
More than 900 fraud cases linked to pandemic-related relief funds are being investigated, said a U.S. Secret Service statement issued Tuesday.
In the statement, the ...
- Multiple Airlines Cancel Hundreds of Flights on Christmas Eve, Citing Omicron Surge
By Katabella Roberts
Multiple airlines across the United States canceled hundreds of flights on Christmas eve, citing a nationwide surge in Omicron cases which has directly impacted employees and flight crew.
The ...
- Jim Jordan Becomes 2nd GOP Rep. Targeted by Jan. 6 Committee
By Joseph Lord
The Democrat-led House Jan. 6 Committee is now asking Rep. Jim Jordan (R-Ohio) to testify on the events of Jan. 6, making Jordan the ...
- Grassroots Constitutional Rights Groups in North Carolina Combine Efforts to Change Leadership
By Matt McGregor
With the primaries around the corner of the new year, grassroots constitutional rights groups in North Carolina are working to impact communities by localizing national issues ...
- ‘Stop W.O.K.E.’ Act: DeSantis Gives Florida Parents Another Tool ‘To Fight Back Against Woke Indoctrination’
By Patricia Tolson
On Dec. 15, Florida Gov. Ron DeSantis announced the Stop the Wrongs to Our Kids and Employees (W.O.K.E.) Act, “a legislative proposal ...
- Former Dealer, User Details Newport Beach’s Secret Drug Trade
By John Fredricks
NEWPORT BEACH, Calif.—Heavy rain drops began to fall against a white truck marked “HAZMAT” parked at the end of the 100 block ...
- House Republicans Ask Biden When Legal Immunity for Vaccine Manufacturers Will End
By Zachary Stieber
A group of House Republicans has asked President Joe Biden about the legal immunity granted to COVID-19 vaccine manufacturers, expressing concern about ...
- 24 States Sue Biden Admin Over COVID-19 Mandates for Children, Staff in ‘Head Start’ Education Program
By Isabel Van Brugen
Attorneys general (AG) from 24 states have filed a lawsuit against the Biden administration challenging COVID-19 vaccine mandates for early education ...
- School Board ‘Shenanigans’ Inspire Greater Interest Among Parents to Vote in Midterm Elections
By Patricia Tolson
While most admit to voting only in presidential elections, a year of what some describe as school board “shenanigans” has inspired greater ...
- Democrats’ Dismal Outlook for 2022 Midterm Elections Continues to Worsen
By Mark Tapscott
News Analysis
When New Jersey Democratic Rep. Albio Sires announced he will not seek re-election, it marked the 23rd sitting Democrat in the ...
- Judge Blocks Biden’s COVID-19 Vaccine Mandate for Federal Contractors in 10 States
By Mimi Nguyen Ly
A federal judge in Missouri has issued a temporary hold on the Biden administration’s COVID-19 vaccine mandate for federal contractors in 10 U.S. states while litigation plays out.
“We ...
![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 | USNN World News")
