- Top Cuomo Aide Melissa DeRosa Steps Down as Governor Resists Resignation Calls
By Zachary Stieber
A top aide to New York Gov. Andrew Cuomo resigned late Sunday.
“It has been the greatest honor of my life to serve the people of New York for ...
- Albany County Sheriff Announces Criminal Investigation Into Governor Cuomo
By Nick Koutsobinas
The Albany County Sheriff’s office announced during a Saturday press conference they had opened a criminal investigation into New York Gov. Andrew ...
- Warden at Jail Holding Epstein Associate Ghislaine Maxwell Charged With Murder
By Zachary Stieber
A warden at a federal prison holding Jeffrey Epstein associate Ghislaine Maxwell was charged with murder this week.
Antonia Ashford, 44, of Jackson, New Jersey, was charged ...
- New Identity Authentication Requirement for Unemployment Spreads Across the Country
By Beth Brelje
Pennsylvania now requires individuals filing for unemployment compensation to prove their identity before receiving payments.
In an effort to prevent fraudulent claims which ...
- Arizona Senator Arrested for Suspected Sexual Conduct With Child
By Zachary Stieber
A Democrat senator in Arizona was arrested on Thursday for allegedly being sexually involved with a minor.
State Sen. Tony Navarrete was taken into custody, local ...
- Wisconsin Election Officials Remove Over 205,000 From Voter Rolls
By Zachary Stieber
Election officials in Wisconsin have deleted more than 205,000 names from voter registration rolls as part of maintaining the lists, they announced on Aug. ...
- Senator Proposes Bill to Mandate Voter ID for States That Mandate Vaccine Passports
By Jack Phillips
A Republican senator introduced a bill that mandates voter identification laws for states that mandate COVID-19 vaccine passports.
So far, no state has mandated ...
- School Board President Rips Mic Away From Mother Speaking Out Against CRT
By Isabel Van Brugen
A Pennsylvania school board president is facing backlash after he cut off an Iranian immigrant mother who was speaking out against ...
- Carey, Brown Win in Ohio Special Election Primaries
By Zachary Stieber
Candidates backed by former President Donald Trump and House Majority Whip Jim Clyburn (D-S.C.) appear to be headed to Congress after winning primaries in special elections ...
- Fight Social Media Censorship by Suing for Discrimination, Think Tank Head Urges
By Matthew Vadum
The best way to fight social media censorship is to promote model state legislation all across the country that gives users the right to sue ...
- Maricopa County, Dominion Defy Arizona Senate’s Subpoenas
By Zachary Stieber
Officials in Arizona’s largest county and Dominion Voting Systems on Monday announced their defiance of the state Senate’s latest round of subpoenas, continuing ...
- Newsom Recall Backers Sue to Block Framing of Effort as ‘Republican Takeover’ of California
By Tom Ozimek
Key backers of the recall election against California Gov. Gavin Newsom have filed a lawsuit to prevent the Democrat governor from framing the contest as a Trump-aligned Republican ...
![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")
