- Biden DOJ Asks Supreme Court to Dismiss Major GOP Election Lawsuit
By Matthew Vadum
The Biden administration asked the U.S. Supreme Court to dismiss a high-profile case in which Republicans want the court to recognize state ...
- 10 Men Arrested in Ohio in Human Trafficking Operation, Illegal Immigrant Among Them
By Mimi Nguyen Ly
Ten men were recently arrested on charges related to human trafficking in North Olmsted, Ohio, as part of a sting operation.
Among ...
- Trump Likely Wins 2024 Despite ‘Campaign of Lawfare’ Against Him, Historian Says
By Frank Fang
Former President Donald Trump is likely to become the next U.S. president, according to Scottish-American historian Niall Ferguson.
“A second Trump act is ...
- Former Prosecutor Against Trump Takes the Fifth in Deposition Before GOP Committee
By Mimi Nguyen Ly
Mark Pomerantz, a former Manhattan prosecutor who led an investigation into Trump’s finances, invoked his Fifth Amendment rights during his deposition ...
- ‘We’re Preparing to Restart Repayment’: Education Secretary on Federal Student Loans
By Naveen Athrappully
Secretary of Education Miguel Cardona revealed during a recent hearing that the Biden administration is preparing to restart the payment of federal student ...
- Federal Judge Rules 18- to 20-Year-Olds Cannot Be Barred From Buying Handguns
By Jack Phillips
A federal judge in Virginia ruled that 18-to-20-year-old residents cannot be barred from purchasing handguns, arguing that such regulations aren’t in accordance ...
- Ex-CIA Chief Testified Hunter Biden Laptop Letter Was Purely Political: Jordan
By Samantha Flom
Former CIA Director John Brennan privately testified before a House Judiciary Committee panel that the letter he and 50 other current and ...
- Trump Lays out 2024 Policy Agenda at CNN Town Hall
By Mimi Nguyen Ly
Former President Donald Trump on Wednesday presented his vision for the country as he fielded questions from voters and a CNN moderator ...
- Manchin Vows to Block Biden EPA Nominees Over Upcoming Power Plant Rules
By Nathan Worcester
As the Biden administration’s Environmental Protection Agency (EPA) prepares to issue stringent new power plant rules, Sen. Joe Manchin (D-W.Va.), is putting ...
- RFK Jr. Responds to Speculation About Becoming Trump’s Vice President in 2024
By Jack Phillips
Democrat presidential candidate Robert F. Kennedy, Jr. responded to speculation that he could become former President Donald Trump’s 2024 running mate in ...
- McCarthy Criticizes Biden’s Possible Use of 14th Amendment to Override Debt Limit
By Tom Ozimek
House Speaker Kevin McCarthy (R-Calif.) on Tuesday criticized President Joe Biden’s veiled threat to invoke the 14th Amendment as a way to ...
- ANALYSIS: Tucker Carlson’s Firing Underscores Legacy Media Divorce From Americans, Media Insiders Say
By Petr Svab
News Analysis
American corporate media are becoming increasingly disconnected from the concerns and aspirations of Americans. According to several media insiders who’ve explored ...
![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")
