- Nikki Haley Gains Ground in US Presidential Race
By Alice Giordano
Former South Carolina Gov. Nikki Haley has been catapulted into a tied position with Florida Gov. Ron DeSantis in one of the ...
- EPA Begins Arduous Task Removing Toxic Materials From Areas Devastated by Wildfires in Maui
By Allan Stein
The U.S. Environmental Protection Agency (EPA) has begun a phased cleanup of toxic materials from areas impacted by Maui’s wildfires.
At the request ...
- Kari Lake Has ‘Utmost Confidence’ in Victory After Court Finds Maricopa County Signature Verification Unlawful
By Tom Ozimek
Conservative firebrand Kari Lake said she’s highly confident in a legal victory in her upcoming trial after a judge ruled that Maricopa ...
- Beer Cans Recovered From a Dumpster Help Send Florida Man to Prison for Life
By Jacob Burg
A Florida man has been convicted and sentenced to life in prison for stabbing an unarmed convenience store clerk 73 times.
Beer cans ...
- Court Finds Arizona’s Signature Matching Process Unlawful in ‘Massive Win’ for Election Integrity
By Tom Ozimek
A judge has found that Arizona’s signature matching process for mail-in ballots is unlawful, delivering what the plaintiffs in the lawsuit called ...
- Federal, State Lawsuits Seek Constitutional Clarity on ‘Racial Gerrymanders’
By John Haughey
It’s a fine litigative line: Gerrymandering by a majority party for political purposes is legal because elections have consequences. But if the ...
- Concerns About Auto Workers Strike at Ford, GM, and Stellantis Gain Steam
By Andrew Moran
There is growing concern that workers at the Big Three automakers—Ford, General Motors, and Stellantis—will strike when the United Auto Workers (UAW) ...
- Judge Skeptical as Prosecutors Claim Trump Georgia Trial Could Take Four Months
By Jack Phillips
A Georgia judge handling the trials of former President Donald Trump and 18 co-defendants appeared to be skeptical of prosecutors’ proposals to ...
- Utah, Rhode Island Voters Select Nominees for Congressional Contests
By Samantha Flom
Special elections held Tuesday in Rhode Island and Utah narrowed the field of candidates for two hotly contested races for U.S. Congress.
In ...
- Judge Reverses Decision on Motion After Trump Attorneys Say She Broke Court Rules
By Petr Svab
Federal District Judge Tanya Chutkan, who oversees the election interference case against former President Donald Trump in Washington, D.C., revoked an earlier approval ...
- Biden Admin Officials Subpoenaed Over Hunter Biden Tax Probe Tip-Off
By Tom Ozimek
Six Biden administration officials have been hit with subpoenas by House Oversight Committee chairman James Comer (R-Ky.) over allegations that the Secret ...
- Astronauts Return to Earth in SpaceX Capsule to Wrap up 6-Month Station Mission
By The Associated Press
CAPE CANAVERAL, Fla.—Four astronauts returned to Earth early Monday after a six-month stay at the International Space Station.
Their SpaceX capsule parachuted ...
![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 6")
