- Documents Point to Stefan Halper Lying to FBI: Judge
By Zachary Stieber
Evidence that has come to light indicated that British professor Stefan Halper is the confidential source who claimed to the FBI that ...
- US Would Face ‘Deep and Immediate Recession’ If Chips from Taiwan Stop Flowing, Warns Commerce Secretary
By Bryan Jung
The United States would face a “deep and immediate recession” if access to Taiwan’s computer chips plants are cut off, said Commerce Secretary Gina Raimondo ...
- Fauci, Other US Officials Served in Lawsuit Over Alleged Collusion to Suppress Free Speech
By Zachary Stieber
White House chief medical adviser Anthony Fauci, Surgeon General Vivek Murthy, and other top Biden administration officials have been served with discovery requests ...
- Biden Tests Positive for COVID-19: White House
By Jack Phillips
President Joe Biden tested positive for COVID-19, the White House confirmed in a statement on Thursday.
Biden, 79, has received a total of four vaccine doses, including two ...
- Nearly 30 Percent of Gen Z Living Permanently With Parents Amid Inflation Squeeze
By Katabella Roberts
Amid surging rental prices, nearly 30 percent of Americans born in the late 1990s and early 2000s still live at home with their ...
- House Democrats Block Legislative Amendment to Prevent US Oil Sales to China
By Frank Fang
House Democrats have blocked a Republican effort to prevent the Biden administration from selling oil from the United States’ strategic reserve to ...
- White House Responds After Biden Seems to Suggest Having Cancer
By Jack Phillips
A White House official tried to clarify remarks from President Joe Biden on Wednesday where he appeared to say that he currently has cancer while commenting ...
- Judge Grants Request for Discovery Phase in Social Media Collusion Lawsuit Against Biden Admin
By Katabella Roberts
A federal court has granted a request by Missouri and Louisiana officials to obtain information and documents from top-ranking officials in the ...
- Rep. Maxine Waters Paid Daughter $16,500 in Campaign Funds for Reelection Services in June
By Katabella Roberts
The reelection campaign of Rep. Maxine Waters (D-Calif.) paid out over $16,000 to Waters’s daughter in the second quarter of 2022, adding to the more than $1.2 million the ...
- Red States Top CNBC Ranking for ‘Business-Friendliness’
By Nicholas Dolinger
A recent ranking of states according to “business friendliness” has deemed Republican-leaning “red states” as the highest in terms of favorability to free ...
- Florida Supreme Court OKs DeSantis Request to Probe Immigration Offenses, Especially Child Endangerment
By Jannis Falkenstern
PUNTA GORDA, Fla.—The Florida Supreme Court agreed to impanel a statewide grand jury in response to a petition filed by Gov. Ron ...
- Doctor Who Performed 10-Year-Old Girl’s Abortion Takes Step Toward Suing Indiana Attorney General
By Zachary Stieber
The doctor who recently performed an abortion for a 10-year-old girl alerted Indiana’s attorney general on July 19 that she may sue him for defamation.
Dr. ...
![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")
