- America Prepares for Protests, Celebrations on Flag Day
By Janice Hisle
President Donald Trump said Americans are invited to the nation’s capital for “an unforgettable celebration” of the Army’s 250th anniversary on June ...
- Marines to Protect Federal Assets in LA, Relieve National Guard Troops
By Sam Dorman
The Defense Department said that a group of 200 Marines would relieve the California National Guard on June 13 to protect federal ...
- New Democrat Coalition Urges Party to Reconnect With Working Class
By Chase Smith
A member of the New Democrat Coalition is calling on the Democratic Party to sharpen its message to working-class voters, saying that ...
- Appeals Court Restores Trump’s Control of California National Guard
By Sam Dorman
A federal appeals court has issued a temporary stay in a ruling handed down just hours earlier on June 12, essentially restoring ...
- DHS Sending Termination Notices to 500,000 Illegal Immigrants to ‘Leave Immediately’
By Jack Phillips
The Department of Homeland Security (DHS) announced on June 12 that it sent notices of termination to hundreds of thousands of Cuban, ...
- Musk Says He Regrets Posts About Trump
By Owen Evans
Tech billionaire Elon Musk has expressed regret over recent posts about President Donald Trump amid a public feud between the two.
“I regret ...
- US Reduces Presence at Middle East Embassies Amid Rising Tensions
By T.J. Muscaro
The United States has begun decreasing the number of staffers present at its embassies in the Middle East due to heightened security ...
- FBI Investigating Money Trail Behind Los Angeles Riots, Patel Says
By Eva Fu
The FBI is investigating what is fueling the riots against immigration enforcement in Los Angeles, the agency’s director, Kash Patel, said.
“The FBI ...
- Los Angeles Mayor Imposes Curfew on Downtown to Stem Looting, Vandalism
By Joseph Lord
Los Angeles Mayor Karen Bass announced that a curfew would go into effect on areas of the city’s downtown as riots reached ...
- Thomas Massie Introduces Bill to Audit America’s Gold Reserves
By Andrew Moran
Rep. Thomas Massie (R-Ky.) introduced legislation on June 6 to audit gold reserves held by the United States.
Earlier this year, President Donald ...
- Treasury Sanctions El Chapo’s Sons and Key Allies Over Fentanyl Trafficking
By Chase Smith
The U.S. Treasury Department on June 9 sanctioned two sons of Joaquín “El Chapo” Guzmán and several members of their network, accusing ...
- What to Know About the Insurrection Act of 1807
By Stacy Robinson and Joseph Lord
As protests against federal immigration enforcement flared across Los Angeles over the weekend, questions have arisen about whether President ...
![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")
