- Republicans Win Control of the Senate
By Arjun Singh
WASHINGTON—The Republican Party gained control of the United States Senate in the 119th Congress by winning key battleground races in the 2024 ...
- Harris’s Path Narrows as 6 Swing States Too Close to Call
By Petr Svab
With votes in critical battleground states still being counted, Vice President Kamala Harris faced a narrowing path to victory as her opponent, ...
- Officials Order Retabulation of 31,000 Absentee Ballots in Milwaukee
By Samantha Flom and Nathan Worcester
Milwaukee, Wisconsin, will re-tabulate roughly 31,000 absentee ballots after finding that their tabulation machines were not properly closed, city ...
- Appeals Court Voids Biden’s $15 Federal Contractor Minimum Wage, Citing Overreach
By Tom Ozimek
A federal appeals court has ruled that President Joe Biden exceeded his authority by mandating a $15 minimum wage for federal contract ...
- Top Colorado Election Official Says Passwords for Voting Systems Were Online for 4 Months
By Zachary Stieber
Passwords for Colorado’s voting systems were online for four months, Colorado Secretary of State Jena Griswold said in a Nov. 4 statement.
An ...
- Voting Time Extended in Pennsylvania County After ‘Software Malfunction’
By Zachary Stieber
Voting hours have been extended in Pennsylvania’s Cambria County after what officials described as a software problem disrupted the casting of ballots ...
- Dixville Notch Midnight Vote Kicks Off Election Day With Trump-Harris Tie
By Aldgra Fredly
Voting for the 2024 presidential race in the small town of Dixville Notch in New Hampshire has concluded, with an even split ...
- Joe Rogan Endorses Trump on Eve of Election Day
By Stephen Katte
Podcaster Joe Rogan has formally endorsed Republican presidential candidate Donald Trump on the eve of Election Day.
In a Nov. 4 statement posted ...
- Extra Security Fencing Placed at White House, Harris Residence Ahead of Election
By Bill Pan
Eight-foot-high metal security fencing was installed around key government sites in Washington over the weekend as authorities brace for potential unrest on ...
- Federal Judge Rules Iowa Officials Can Challenge Ballots of Potential Noncitizen Voters
By Aldgra Fredly
A federal judge ruled on Sunday that Iowa election officials may continue to follow Secretary of State Paul Pate’s directive to challenge ...
- Whoever Wins This Pennsylvania County Is Expected to Win the White House
By Joseph Lord
ERIE, Pa.—Thousands turned out to the Bayfront Convention Center on Sept. 29 to hear former President Donald Trump speak. Hundreds more gathered ...
- Pennsylvania Investigating Possible Fraudulent Voter Registration Forms, Top Election Official Says
By Jack Phillips
Pennsylvania’s top election official confirmed his office is investigating potentially fraudulent voter registration applications after authorities in multiple counties reported the issue.
Noting ...
![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")
