- Treasury Investigating Alleged Minnesota Fraud That Steered Money to Somali Terrorists
By Kimberly Hayek
The Treasury Department is investigating claims that Minnesota taxpayer funds were stolen by fraudulent nonprofits and rerouted to the Al-Shabaab terrorist group ...
- Hurricane Season Ends With No US Landfalls for First Time in 10 Years
By T.J. Muscaro
Hurricane season officially came to an end on Nov. 30, and for the first time in 10 years, no hurricane made landfall ...
- Trump Declares Venezuelan Airspace Closed as US Intensifies Pressure on Maduro
By Tom Ozimek
President Donald Trump said on Nov. 29 that the airspace above and around Venezuela should be considered “closed in its entirety,” marking ...
- National Guard Shooting Suspect to Be Charged With First-Degree Murder, Pirro Says
By Jack Phillips
Charges against the man accused of shooting two National Guard members this week will be upgraded to first-degree murder after one died, ...
- 2 National Guardsmen Killed in Shooting Near White House
By Ryan Morgan
WASHINGTON—Two National Guard members were killed in a shooting near the White House on Nov. 26.
At around 2:40 p.m. ET on Wednesday, ...
- NASA Reduces Boeing’s Starliner Missions as SpaceX Books More Flights
By Kimberly Hayek
NASA is reducing its investment in Boeing’s beleaguered Starliner spacecraft, announcing Monday that it’s lowering the number of astronaut missions and opting ...
- Pentagon Investigating Senator After Video Urging Troops to Defy ‘Illegal Orders’
By Zachary Stieber
Sen. Mark Kelly (D-Ariz.) is under investigation after the Department of War received allegations that he engaged in misconduct, the department stated ...
- Federal Judge Dismisses James Comey, Letitia James Indictments
By Sam Dorman
A federal judge on Nov. 24 dismissed indictments of former FBI Director James Comey and New York Attorney General Letitia James, holding ...
- Safety Board Releases Images Showing Engine Separating From UPS Plane Before Fatal Crash
By Jacki Thrapp
The National Transportation Safety Board (NTSB) released new images showing the fiery moment UPS Flight 2976’s left engine detached while it attempted ...
- 30,000 Missing Illegal Immigrant Children Located: Tom Homan
By Naveen Athrappully
More than 30,000 missing illegal immigrant children have been located by the Trump administration, border czar Tom Homan said in a Fox ...
- US Brings New Charges, Raises Bounty on Accused Drug Trafficker Ryan Wedding
By Catherine Yang and Stacy Robinson
The Justice Department on Nov. 19 announced new charges against Ryan James Wedding, a former Olympian who was indicted ...
- Appeals Court Halts DOT Restrictions on Commercial Driver’s Licenses for Immigrants
By Aldgra Fredly
A federal appeals court in the District of Columbia has temporarily blocked the Department of Transportation (DOT) from enforcing a new rule ...
![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")
