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By Joshua Phillip
Commentary
This week the nation could finally get more insight into the allegations against Hunter Biden, whose infamous laptop sparked allegations that the ...
- FBI Denies Request for Nashville Shooter’s Manifesto, Writings
By Chase Smith
Despite multiple requests for the release of Nashville Christian school shooter Audrey Hale’s manifesto and writings surrounding her March 27 attack that ...
- Police Identify Suspect With ‘Extensive Rap Sheet’ After 8 People Outside Texas Center Killed
By Jack Phillips
The driver accused of running over and killing eight people near a Texas facility holding illegal immigrants was identified as 34-year-old George Alvarez, ...
- Robert Kennedy Jr. Blames CIA for Assassination of JFK
By Jack Phillips
Democratic White House contender Robert Kennedy Jr. recently blamed the Central Intelligence Agency (CIA) for the assassination of his uncle, President John ...
- Biden Says Son Hunter ‘Has Done Nothing Wrong’ Amid Rumors of Federal Charges
By Tom Ozimek
President Joe Biden said Friday that his son Hunter Biden “has done nothing wrong” as rumors swirl that the president’s son could ...
- Joe Biden Responds to Age Concerns For His Reelection Bid
By Allen Zhong
President Joe Biden has shrugged off concerns about his age for re-election and said he’s still “effective.”
“I have acquired a hell of ...
- At Least 9 Dead, Including Suspect, After Shooting at Texas Mall
By Mimi Nguyen Ly
A gunman fatally shot at least eight people and injured seven others in a shooting at a busy mall.
The shooting took ...
- California Defaults on $18.6 Billion Debt, Now Businesses Have to Pay
By Travis Gilmore
California borrowed approximately $20 billion from the federal government to cover unemployment benefits during the pandemic, and with Gov. Gavin Newsom’s recent ...
- Congressman Calls for Review of Gender-Transition Medications After Mass Shooting
By Mark Tapscott
Federal officials should consider pausing or withdrawing government approval of the drugs used in gender-transitioning procedures such as those administered to Nashville ...
- Supreme Court Inches Closer to Decision in Major Redistricting Case
By Matthew Vadum
The U.S. Supreme Court is moving closer to deciding if it will issue an opinion in a high-profile case in which Republicans ...
- Biden’s Indo-Pacific Trade Agreement Could Further Strengthen Big Tech Monopolies, Lawmakers Warn
By Joseph Lord
A coalition of congressional Republicans are speaking out against President Joe Biden’s proposal for a trade agreement they say could further strengthen ...
- Auto Worker’s Union Withholds Support for Biden’s Reelection Campaign Over His EV Policies
By Savannah Hulsey Pointer
United Auto Workers (UAW) is delaying its endorsement of President Joe Biden’s reelection campaign, according to a May 2 union memo.
The Detroit-based ...
![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 8")
