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With Rep. Kevin McCarthy (R-Calif.) ousted as speaker of the House on Oct. 3, Rep. Jim Jordan (R-Ohio), chairman of the powerful ...
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America’s education crisis is approaching another crossroads this year. Between January and July, more than a quarter of a million teachers and support staff ...
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A Jan. 6 defendant from Pennsylvania originally charged with felonies including assaulting police at the U.S. Capitol and civil disorder was ...
- Kari Lake Files FEC Paperwork to Run for US Senate in Arizona
By Caden Pearson
Kari Lake, a former Republican Arizona gubernatorial candidate, has officially submitted paperwork to the Federal Election Commission (FEC), announcing her bid for ...
- McCarthy Out as Speaker—Here Are Some Possibilities of What May Happen Next
By Jackson Richman
The House will have a new Speaker after Rep. Kevin McCarthy (R-Calif.) was stripped of the gavel on Oct. 3 after almost ...
- Social Security Agency to Make Major Announcement on Checks This Month
By Jack Phillips
The Social Security Administration (SSA) is slated later this month to announce the cost-of-living adjustment (COLA) that awaits in 2024 for tens ...
- Takeaways From Day One of the Trump Trial in New York
By Catherine Yang and Petr Svab
Former President Donald Trump made an unprecedented court appearance on Oct. 2 at the famed courthouse on 60 Centre ...
- AG Merrick Garland Vows to Step Down If Biden Seeks Trump Probe
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In an interview that aired on Oct. 1, Attorney General Merrick Garland indicated he would resign if President Joe Biden requested ...
- Trump Increases Lead in Support After Second GOP Presidential Debate
By Frank Fang
Former President Donald Trump has further solidified his lead in the Republican presidential primary, following the second GOP debate at the Ronald ...
- Ramaswamy Assails ‘Woke Capital’ in California’s Corporate Sphere
By Nathan Worcester
Days after a relatively subdued performance at the second GOP presidential debate, entrepreneur Vivek Ramaswamy pitched to California Republicans about the dangers ...
- Gaetz Says He Will Move to Oust McCarthy as House Speaker
By Bill Pan
Rep. Matt Gaetz (R-Fla.) said on Oct. 1 that he plans to file a motion sometime this week to remove House Speaker ...
- Open AI Exec Warns AI Is ‘Extremely Addictive,’ Humanity Could Become ‘Enslaved’
By Benjamin Kew
A senior executive at the non-profit Open AI has warned that, as well as the potential existential threat posed by artificial intelligence ...
![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")
