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U.S. citizens are more interested in the Biden administration tackling inflation than focusing on helping Ukraine in its war against Russia, a ...
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By Jack Phillips
Amazon founder and multi-billionaire Jeff Bezos criticized the Biden administration’s messaging around gas prices and rising inflation.
On Saturday, President Joe Biden suggested on Twitter that gas ...
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Multiple people are feared dead after a mass shooting during a Fourth of July parade in a Chicago suburb, officials said.
Six people were killed ...
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By The USNN World News Team
Independence Day, also called Fourth of July or July 4th, in the United States, the annual celebration of nationhood. It commemorates the passage of the Declaration ...
- Missouri Requires Photo ID, Bans Ballot Drop Boxes in Election Law Overhaul
By Allen Zhong
Missouri Gov. Mike Parson signed a new election law on Wednesday that will require a voter to show a photo ID to vote in the ...
- FBI Says More People Using ‘Deepfake’ Technology to Apply for Jobs
By Nicholas Dolinger
The FBI has published a new statement warning about the increasingly prevalent use of “deepfake” technology in job interviews, allowing users to assume the ...
- Supreme Courts in Texas, Ohio Block Efforts to Reinstate Access to Abortions
By Mimi Nguyen Ly
Texas’s and Ohio’s Supreme Courts have given the go-ahead for the states to enforce their respective state laws that ban abortion, blocking efforts ...
- California Gives Free Healthcare to Illegal Immigrants
By Jamie Joseph
SACRAMENTO—California is now the only state in the U.S. to offer free healthcare to all low-income illegal immigrants after Gov. Gavin Newsom signed ...
- ‘Swarm’ of Earthquakes Hitting South Carolina Are Getting Stronger
By Jack Phillips
A so-called earthquake “swarm” that is hitting South Carolina appears to be getting stronger, researchers said this week.
Two earthquakes with a magnitude of 3.5 and 3.6, ...
- Rep. Andy Biggs Blows Whistle On ATF ‘Anti-Gun Agenda’ Targeting Law-Abiding Firearm Dealers
By Joseph Lord
Rep. Andy Biggs (R-Ariz.) in a June 29 letter demanded answers from the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) about ...
- House Lawmaker Introduces Bill to Ban IRS From Buying Ammunition
By Jack Phillips
Rep. Matt Gaetz (R-Fla.) on Friday introduced a bill in the House to bar the Internal Revenue Service (IRS) from acquiring ammunition.
The bill (pdf), known as ...
- Following Landmark Second Amendment Decision, SCOTUS Overturns Appeals Court Decisions in 4 States
By Matthew Vadum
The Supreme Court followed up its June 23 landmark ruling that for the first time recognized a constitutional right to carry firearms ...
![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 8")
