- Trump Reveals More Details on Mar-a-Lago Raid
By Gary Bai
Former President Donald Trump on Wednesday afternoon revealed more details on the circumstances surrounding the FBI’s Aug. 8 raid of his Mar-a-Lago home.
“In early ...
- House Dems Kill Budd Amendment, Say No to Switching Funds for 87,000 New IRS Agents to Hire More Border Patrol Agents
By Mark Tapscott
House Rules Committee Democrats killed an amendment offered by Rep. Ted Budd (R-N.C.) that would have transferred billions of tax dollars the ...
- Judge Orders Department of Justice to Respond to Requests to Unseal FBI’s Trump Warrant
By Jack Phillips
The Justice Department has to respond to motions to unseal a warrant that triggered the FBI raid on former President Donald Trump’s Mar-a-Lago home, according ...
- GOP Launches NARA Probe Over FBI Mar-a-Lago Raid
By Gary Bai
Oversight GOP figures are requesting the National Archives and Records Administration (NARA) provide information on the Federal Bureau of Investigation’s (FBI) raid of former ...
- ‘Weaponized’ DOJ Undermines Citizens’ Faith in American Institutions: Rep. Mike Johnson
By Gary Bai
The news about the FBI’s raid of former President Donald Trump’s Mar-a-Lago property rung vivid imageries of déjà vu in the mind of ...
- Grassley Expresses Concerns to FBI Director After Mar-a-Lago Raid
By Mimi Nguyen Ly
Sen. Chuck Grassley (R-Iowa) said he spoke with FBI Director Christopher Wray expressing his concerns over the agency’s conduct a day ...
- ‘Seems Political’: Andrew Cuomo, Andrew Yang React to FBI Raid on Trump’s Home
By Gary Bai
Former Democratic presidential candidate Andrew Yang and former New York Governor Andrew Cuomo questioned the Department of Justice for authorizing the FBI to raid former President Donald Trump’s ...
- ‘Biden Knew All About This,’ Trump Says After Mar-a-Lago Home Raided by FBI
By Frank Fang
Former President Donald Trump has criticized President Joe Biden, claiming that the administration had prior knowledge of the FBI raid on his Mar-a-Lago resort on ...
- McConnell Says ‘Country Deserves Thorough and Immediate Explanation’ About Trump Residence Search
By Hannah Ng
Senate Minority Leader Mitch McConnell (R-Ky.) has called for a “thorough and immediate explanation” in the wake of the FBI’s search at former President ...
- Trump Releases Dramatic Political Video After FBI Raids Mar-a-Lago
By Caden Pearson
Former President Donald Trump released a dramatic political video, hours after the FBI raided his Mar-a-Lago estate in Florida, in which he laments the “declining” state ...
- FBI Agents Were Looking for Classified Records, Took Boxes of Documents From Trump Resort: Lawyer
By Zachary Stieber and Roman Balmakov
The FBI agents who raided former President Donald Trump’s Florida resort were looking for certain records, according to a lawyer for Trump who was on ...
- After Raid, Trump Determined to ‘Straighten This Country Out’: Graham
By Zachary Stieber
Former President Donald Trump is determined to fix the United States after his residence was raided by the FBI, Sen. Lindsey Graham (R-S.C.) said on Aug. ...
![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")
