- Hobbs’s Lead Over Lake Narrows in Arizona Gubernatorial Race
By Zachary Stieber
Arizona Secretary of State Katie Hobbs saw her lead in the gubernatorial race over Republican Kari Lake drop again in the most recent update.
Hobbs’s lead of 19,382 ...
- Homeland Security Secretary Alejandro Mayorkas Says He Has No Plans to Resign Amid Border Crisis
By Katabella Roberts
Homeland Security Secretary Alejandro Mayorkas on Tuesday said he has no plans to resign amid mounting criticism over his handling of the immigration crisis at the U.S.–Mexico border.
Republican lawmakers ...
- Donald Trump Launches 2024 Bid for White House
By Ivan Pentchoukov
PALM BEACH, Fla.—Former President Donald Trump commenced his third campaign for the White House on Nov. 15.
Trump, 76, who had hinted at a 2024 run for ...
- Legislation in Texas Could Make Voter Fraud a Felony
By Joe Gomez
Several Republican lawmakers have filed bills in the Texas House of Representatives that would increase the penalty for election fraud from a Class A ...
- House Republicans’ Midterm Results Are on Candidates, Not Trump or McCarthy: Rep. Burchett
By Terri Wu
WASHINGTON—The reason for the Republicans’ lackluster performance in the midterm House races came down to each individual candidate, according to Rep. Tim Burchett ...
- Texas Governor Invokes Invasion Clause at US-Mexico Border
By Jack Phillips
Texas Gov. Greg Abbott announced Tuesday he is invoking “invasion clauses” due to illegal immigration from Mexico, allowing his administration to use the National Guard to ...
- Pelosi Is ‘Not Even Thinking About’ Political Future ‘At This Moment’: Spokesman
By Katabella Roberts
A spokesman for House Speaker Nancy Pelosi (D-Calif.) has said reports that the California Democrat is preparing to retire from Congress after more than 30 years ...
- Cruz Criticizes McConnell for ‘Abandoning’ Blake Masters in Arizona Senate Race
By Frank Fang
Sen. Ted Cruz (R-Texas) said Republicans missed a “generational opportunity” to retake Congress in the midterm elections, and criticized Senate Minority Leader Mitch McConnell (R-Ky.) for ...
- Texas Gov. Greg Abbott Calls for Investigation Into Harris County Elections
By Caden Pearson
Republican Texas Gov. Greg Abbott on Monday called for an investigation into how Harris County runs elections, citing problems and delays including missing keys, insufficient paper ballots in ...
- Trump on Anticipated 2024 Bid: Will Keep Everyone in ‘Massive Suspense’
By Eva Fu
NEW YORK—Former President Donald Trump is again hinting about a third presidential run despite some resistance from his inner circle, saying that ...
- Teach the Constitution: Democrat Attorney Who Halted Hochul’s Quarantine Camp Regulation
By Jan Jekielek and Masooma Haq
In what she has called a David versus Goliath battle, New York real estate lawyer Bobbie Anne Cox sued Governor Kathleen ...
- Media Defend Nevada’s Slow Election Vote Count After Condemning Delayed Tally in 2020 Iowa Caucuses
By Katabella Roberts
Many of the mainstream media outlets that are currently defending the slow counting of votes in Nevada and Arizona following November’s midterm elections, had criticized the very same ...
![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")
