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Representatives at a Congressional hearing moved closer to challenging President Joe Biden’s new rule defining the Waters of the United States (WOTUS) ...
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Clients from Swiss global investment bank Credit Suisse pulled out a record amount of funds in the fourth quarter as the company posted a ...
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By John Haughey
Among reasons why Arkansas Gov. Sarah Huckabee Sanders was selected to deliver the Republican rebuttal to Democrat President Joe Biden’s Feb. 7 ...
- Biden Chastises Republicans in State of the Union, Prompting Boos, Heckling
By Jeff Louderback
During his second State of the Union address on Feb. 7, President Joe Biden encouraged “unity” to “finish the job” and to ...
- Republicans Respond to Biden’s State of the Union Address
By Michael Clements
Many Republicans expressed disappointment at President Joe Biden’s State of the Union address on Feb. 7, contending that Biden failed to appropriately ...
- FBI Whistleblower Interviewed by GOP House Committee, Top Republican Confirms
By Jack Phillips
House Judiciary Chairman Jim Jordan (R-Ohio) confirmed Tuesday that his committee conducted a transcribed interview with an FBI whistleblower while his panel investigates the Department ...
- GOP-Manchin Efforts to Block Biden’s ‘Woke’ Investing Rule Backed by More Than 100 Conservative Leaders and Groups
By Savannah Pointer
A resolution introduced by Sen. Mike Braun (R-Ind.) and Rep. Andy Barr (R-Ky.) to prevent the Biden administration from promoting a “woke ...
- Second Amendment Activists, Congressmen, See More at Stake Than Braces
By Michael Clements
Within days of the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) issuing its regulation for pistol braces, a senator from Kansas ...
- Gabbard, GOP Senators to Appear in First Hearing on Weaponization of the Federal Government
By Joseph Lord
Tulsi Gabbard and two Republican senators will testify in the first hearing of the House Select Subcommittee on the Weaponization of the Federal ...
- Ex-Trump Adviser John Bolton Responds to Claims of Chinese Spy Balloons During Trump Presidency
By Jack Phillips
Former national security adviser John Bolton said that it would be problematic if alleged Chinese spy balloons transited over the United States under the ...
- Military Experts Issue Warnings on Possible US-China Conflict After Spy Balloon Shot Down
By Jack Phillips
Several former military officials said that the United States could face significant shortfalls if there is ever a conflict with the Chinese ...
- Federal Law Banning Marijuana Users From Having Firearms Is Unconstitutional, Judge Rules
By Matthew Vadum
A federal law barring marijuana users from possessing guns violates the Constitution, a federal judge in Oklahoma ruled.
The decision cites last year’s landmark Supreme ...
![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")
