- Midterm Elections Updates: Democrats, Tech Leaders Fund PAC to Boost McMullin in Utah
By The Epoch Times Staff
Democrats, Tech Leaders Fund PAC to Boost McMullin in Utah
Tech leaders and Democratic Party-aligned groups are among those funneling millions ...
- ‘Compromised’: Democrat Aide Fired for China Ties, GOP Demands Investigation
By Andrew Thornebrooke
Republicans have called for an investigation following the revelation that an aide to a Democratic lawmaker was fired for facilitating meetings on behalf ...
- Twitter Fact-Checks Biden’s Claim That Companies Paid No Taxes
By Rita Li
Twitter flagged President Joe Biden’s claim that “55” big corporations nationwide paid no taxes for 2020, as the platform affirmed that “only 14” of ...
- True the Vote Founders Jailed Over Contempt of Court
By Zachary Stieber
The founders of the election integrity group True the Vote were jailed on Oct. 31 for contempt of court.
U.S. Marshals detained Catherine Engelbrecht and ...
- US to Deploy Nuclear-Capable B-52 Bombers to Australia Amid Increasing Beijing Tensions: Report
By Daniel Y. Teng
The U.S. Air Force is preparing to deploy six B-52 bombers to northern Australia amid a steady build-up of U.S. military strength in ...
- US Sanctuary States Handing Out Millions in Unemployment Benefits to Illegal Aliens
By Naveen Athrappully
An investigation conducted by the Immigration Reform Law Institute (IRLI) has found that sanctuary states in the United States are dishing out ...
- New York Will Become a ‘Law-and-Order State’ Under Zeldin: DeSantis
By Eva Fu and Frank Fang
LONG ISLAND, N.Y.—Florida Gov. Ron DeSantis on Oct. 29 told a dense crowd of New Yorkers that Republican gubernatorial ...
- Pennsylvania’s Department of State Has Sent Out 249,000 Ballots to Unverified Voters in 2022 Election
By Beth Brelje
In Pennsylvania, the Department of State has allowed at least 249,000 unverified voters to receive mail-in ballots so far in the 2022 general election, due ...
- Judge Rejects Bid to Block Citizens Monitoring Ballot Drop Boxes in Arizona
By Caden Pearson
A federal judge on Friday rejected a civil lawsuit seeking to block grassroots volunteers who mobilized to monitor absentee ballot drop boxes ...
- Arizona GOP Gubernatorial Nominee Thanks Liz Cheney for ‘Biggest Fundraiser Yet’
By Lorenz Duchamps
Arizona Republican governor frontrunner Kari Lake responded on Friday to Rep. Liz Cheney’s (R-Wyo.) “anti-endorsement” efforts, saying a television ad she sponsored and recently broadcasted caused ...
- Midterm Elections Updates: Tulsi Gabbard Endorses Republican Adam Laxalt for Senate
By The Epoch Times Staff
The latest on the midterm elections.
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Tulsi Gabbard Endorses Republican Adam Laxalt for Senate
Former Rep. Tulsi Gabbard has handed her endorsement to ...
- FBI Asks Court for 66 Years to Release Information From Seth Rich’s Computer
By Zachary Stieber
The FBI is asking a U.S. court to reverse its order that it produce information from Seth Rich’s laptop computer.
If the court does not, the ...
![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 9")
