- New Special Counsel Makes First Move, Challenging Claim From Trump Team
By Zachary Stieber
Newly appointed special counsel Jack Smith on Thanksgiving made his first public move since being tasked with leading the investigation into whether former President Donald ...
- Wife of New Special Counsel on Trump Case Donated to Biden Campaign and Produced Michelle Obama Film
By Hannah Ng
Some conservatives have raised questions about the impartiality of the newly appointed special council on former President Donald Trump’s case, Jack Smith, after ...
- Appeals Court Allows Congressional Candidates to Challenge California’s Election Laws
By Brad Jones
The 9th Circuit Court of Appeals has ruled that an election integrity case involving complaints from congressional candidates in 13 counties across California has standing to ...
- ‘They’re Trying to Run Out the Clock:’ Kari Lake Files 1St Lawsuit After Election
By Zachary Stieber
Arizona Republican gubernatorial candidate Kari Lake on Nov. 23 filed a lawsuit against Maricopa County.
Lake sued Stephen Richer, the county’s recorder, and other officials in ...
- Arizona Attorney General Candidate Sues Over Midterm Election Results
By Zachary Stieber
A Republican candidate for Arizona’s attorney general position on Nov. 22 sued his opponent and a slew of election officials, including officials in ...
- Texas Supreme Court Rules Harris County Should Count Over 2,000 Votes Cast Late on Election Day
By Katabella Roberts
The Texas Supreme Court ruled on Tuesday that Harris County should include over 2,000 votes that were cast during an extended one-hour period of voting on Election ...
- Incoming GOP Congressman Fears Democrats Will Downplay FTX Scandal, Calls for ‘Thorough’ Investigation
By John Ransom
A newly-elected GOP representative from New York said that he worries that Democrats will try to downplay potential campaign finance and securities ...
- RNC Attorneys That Surveyed Maricopa County Voting Sites Confirm Widespread Problems
By Allan Stein
A memo detailing the findings of nearly a dozen attorneys who visited voting sites in Maricopa County, Arizona, on election day describes widespread problems ...
- Gen Z and Younger Millennials Shelve Home Ownership
By Mary Prenon
Maria Thomas and Tabor Loynd are among the millions of young Americans who question if they will ever be able to buy ...
- North Carolina Business Owners Request Compensation for Pandemic Closures
By Matt McGregor
North Carolina business owners who were closed during the declared pandemic are taking another swing at getting financial compensation for their financial losses.
The ...
- US to Activate New Space Force Command in Indo–Pacific Amid Tensions With North Korea, China
By Aldgra Fredly
The United States Space Force will activate its first component command in the Indo–Pacific this week, aimed at deterring aggression in the ...
- Mohave County Delays Certifying Arizona Election Results in Protest
By Caden Pearson
A second Arizona county on Monday delayed certifying its midterm election results until the Nov. 28 deadline in a show of solidarity with Maricopa ...
![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 7")
