- With DOGE, Musk, Ramaswamy Confront the ‘Immovable Object’
By Mark Tapscott
After Elon Musk asserted during the 2024 campaign that he could eliminate at least $2 trillion of unnecessary federal spending, the once ...
- Powerful 7.0 Earthquake Strikes Off Coast of Northern California; Tsunami Warning Canceled
By Jack Phillips
A 7.0-magnitude earthquake struck off the coast of Northern California on Dec. 5, according to U.S. officials, triggering a brief tsunami warning.
The ...
- US Must Do More to Replenish Munitions Stockpiles, Says White House’s Sullivan
By Andrew Thornebrooke
The United States’ ability to replenish stockpiles of critical munitions is still insufficient for deterring a war with China’s communist regime, according ...
- NYPD Releases New Photos of ‘Person of Interest’ in UnitedHealthcare CEO Shooting
By Jack Phillips
Police released new photos of an individual wanted for questioning in the shooting of UnitedHealthcare CEO Brian Thompson in New York City ...
- Republicans Split on Whether to Cut Earmarks Ahead of DOGE Meeting With Musk, Ramaswamy
By Arjun Singh
WASHINGTON–Elon Musk and Vivek Ramaswamy, leaders of the incoming Trump administration’s Department of Government Efficiency (DOGE) initiative, will meet with Republicans in ...
- Trump Nominates Michael Faulkender as Deputy Treasury Secretary
By Austin Alonzo
President-elect Donald Trump is nominating an ally and member of his first administration as his deputy secretary of the U.S. Department of ...
- UnitedHealthcare CEO Killed in Manhattan by Masked Gunman, Reports Say
By Jack Phillips
The CEO of insurance company UnitedHealthcare’s insurance unit, Brian Thompson, was shot and killed by a masked gunman in what appears to ...
- House Republicans Will Have 3-Seat Majority After Final Race Called in 2024 Election
By Arjun Singh
WASHINGTON—Republicans will have 220 seats in the House of Representatives in the 119th Congress, completing their majority caucus, after the last election ...
- Cucumbers, Salads, Mustard Greens Recalled Across Country
By Naveen Athrappully
A wide range of food products are being pulled from markets nationwide because of concerns about bacterial contamination.
Arizona-based SunFed Produce, Baloian Farms ...
- Schumer Reelected Senate Democrat Leader, Durbin as Whip
By Jackson Richman
Senate Democrats reelected Sens. Chuck Schumer (D-N.Y.) and Dick Durbin (D-Ill.) on Dec. 3 as their leader and whip, respectively.
Sens. Amy Klobuchar ...
- Court Orders District Attorney Fani Willis to Produce Communications and Records in Trump Case
By Jack Phillips
The district attorney of Fulton County, Georgia, was ordered by a judge to turn over communications she may have had with federal ...
- Democrats Ask Biden to Try to Limit Trump’s Proposed Use of Military on US Soil
By Bill Pan
Two Democratic senators are urging the Biden administration to try to limit President-elect Donald Trump’s ability to deploy military forces inside 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 | USNN World News")
