- ‘Questionable Political Prosecutions’: House Republicans Ask Garland to Release Jack Smith Conflict-of-Interest Documents
By Catherine Yang
Republican members of Congress have sent a letter asking Attorney General Merrick Garland to release the conflict-of-interest review of special counsel Jack ...
- Supreme Court Issues Order Allowing Work to Resume on West Virginia Gas Pipe
By Jack Phillips
The U.S. Supreme Court on Thursday allowed Equitrans Midstream Corp. to resume the building of the Mountain Valley Pipeline, granting what some ...
- RFK Jr. Refuses to Weigh in on Biden’s Fitness, Says Russia ‘Will Not Lose the War’ in Town Hall
By Jeff Louderback
During a town hall with Sean Hannity on July 25, a montage of President Joe Biden’s gaffes appeared on a big screen. ...
- Trump Campaign Leads Biden’s in Small-Dollar Donations Amid 2024 Race
By Naveen Athrappully
Donald Trump is leading President Joe Biden when it comes to funds raised through small-dollar donations, suggesting that the GOP candidate has ...
- Exploding E-Bikes: Lithium Battery Fires Spread in New York and California
By Naveen Athrappully
Lithium-ion batteries have sparked hundreds of fires across New York and San Francisco this year, injuring dozens and resulting in the death ...
- White House Reacts to Hunter Biden Plea Deal Unraveling
By Tom Ozimek and The Epoch Times Staff
After a surprise development in a Delaware court Wednesday in which President Joe Biden’s son, Hunter Biden, ...
- Hunter Biden Pleads Not Guilty After Plea Agreement Falls Apart
By Tom Ozimek
Hunter Biden, the son of President Joe Biden, pleaded not guilty on July 26 to federal tax and gun charges after the ...
- Investigators Pore Over Evidence From the Home of Alleged Gilgo Beach Serial Killer as Search Ends
By The Associated Press
NEW YORK—An intense police search of the Long Island home of Rex Heuermann is now complete, authorities said Tuesday as they ...
- Jordan Tells Mayorkas to Come Prepared Ahead of Congressional Testimony
By Joseph Lord
House Judiciary Committee Chairman Jim Jordan (R-Ohio) told Department of Homeland Security (DHS) Secretary Alejandro Mayorkas to come to Congress prepared with ...
- Trump Diverges From GOP Primary Field, Declines Iowa Governor’s Invite to ‘Fair-Side Chat’
By Samantha Flom
For anyone hoping to become president, Iowa is an important state.
With its first-in-the-nation caucuses, Iowa is often seen as a key indicator ...
- Senate Backs Ban on China Buying US Farmland
By Terri Wu
The U.S. Senate passed on Tuesday an amendment offered by Sen. Mike Rounds (R-S.D.) to ban China and other foreign adversaries from ...
- House Panel to Take Up Contempt of Congress Charge Against Facebook’s Zuckerberg on Thursday
By Ryan Morgan
The Republican-controlled House Judiciary Committee has set a Thursday vote on whether to initiate contempt of Congress charges against Facebook founder Mark ...
![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 7")
