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President Biden confirmed Thursday that he will fulfill his campaign promise to nominate a black woman to the Supreme Court, but constitutional ...
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A special agent from the Internal Revenue Service has warned that non-fungible tokens (NFTs) and cryptocurrencies are highly susceptible to fraud and manipulation as they ...
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Top House Republicans say their Democrat colleagues are “not serious” about confronting the Chinese Communist Party (CCP), after the House unveiled ...
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The United States is facing a chronic shortage of semiconductor chips and a long-term solution is desperately needed to avoid economic and national security risks ...
- Biden Administration Is Withdrawing OSHA COVID-19 Vaccine Mandate
By Jack Phillips
The federal Occupational Safety and Health Administration (OSHA) announced Tuesday it will formally withdraw its COVID-19 vaccine mandate for private businesses with 100 ...
- ‘Null, Void, and Unenforceable’: NY Judge Strikes Down Governor’s Mask Mandate
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A New York Supreme Court judge on Monday evening ruled that Gov. Kathy Hochul’s mask mandate for schools and public places is unconstitutional, ...
- Schweizer: Bidens got $31 million from China intelligence-linked sources
By Bob Unruh
Peter Schweizer, the president of Governmental Accountability Institute and author of “Profiles in Corruption” and “Clinton Cash,” previously has warned China’s influence ...
- Sen. Sinema Censured by Arizona Democratic Party
By Jack Phillips
Sen. Kyrsten Sinema (D-Ariz.) was censured by the Arizona Democratic Party’s executive board over the weekend for voting to keep the Senate’s filibuster, which effectively blocked ...
- US Now Requires All Foreign Travelers to Be COVID-19 Vaccinated When Crossing Land Ports, Ferry Terminals
By Mimi Nguyen Ly
Starting Saturday, non-U.S. travelers who wish to enter the United States via ferry terminals or land ports of entry at the U.S.–Mexico ...
- Biden’s COVID-19 Vaccine Mandate for Federal Workers Blocked Nationwide
By Zachary Stieber
President Joe Biden’s COVID-19 vaccine mandate for federal employees was blocked on Friday by a federal judge.
Biden does not have the authority to impose such ...
- Scientists Who Were Instrumental to COVID-19 ‘Natural Origins’ Narrative Received Over $50 Million in NIAID Funding in 2020-2021
By Jeff Carlson and Hans Mahncke
News Analysis
Four prominent scientists who played key roles in shaping the public narrative around the origin of COVID-19 received ...
- Hunter Biden Invested in Chinese Company Tied to Senior Chinese Communist Party Officials: Emails
By Frank Fang
Hunter Biden, the second son of U.S. President Joe Biden, once held a stake in a Chinese company with ties to senior party ...
![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")
