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By Andy Puzder FOXBusiness
Biden spouted a slew of fundamental inaccuracies on Thursday night.
Democratic presidential nominee Joe Biden spent three days locked in his house this week, avoiding ...
- Biden on the defensive after Trump calls him out allegedly pledging to ‘destroy the oil industry’
By Tyler Olson | Fox News
Biden has remained consistent that he won’t ban fracking but plans to get to net-zero carbon emissions by 2050.
After the final debate on ...
- Trump, Biden clash on China, COVID in final presidential debate before election
By Adam Shaw | Fox News
The final presidential debate will be moderated by NBC’s Kristen Welker.
Fox News Democracy 2020: Presidential Debate
President Trump and Democratic nominee Joe Biden are facing ...
- Jobless claims lower than expected, but remain historically high
By Megan Henney FOXBusiness
More than 64M Americans have sought jobless aid since coronavirus began.
The number of Americans applying for state unemployment benefits unexpectedly dropped last week, ...
- Violent summer proves deciding factor for some Minnesota voters
By Audrey Conklin | Fox News
President Trump says he’s confident of winning Minnesota, despite polls that show him trailing Democratic challenger Joe Biden in the battleground state, which has voted ...
- Progressive journalist slams corporate media for ‘dangerous’ blackout of Hunter Biden scandal
By Brian Flood | Fox News
‘This is dangerous for the future of journalism,’ Jordan Chariton says.
Progressive journalist Jordan Chariton slammed corporate media on Thursday for ignoring the ongoing ...
- Deposition transcripts of accused Epstein enabler released amid trial
By Stephanie Pagones | Fox News
The depositions were taken as part of a lawsuit brought against Maxwell by Virginia Roberts Giuffre.
More than 400 pages of deposition transcripts ...
- Trump knocks Pelosi, Schumer for ‘blue-state bailout’ amid coronavirus relief standstill
By Brittany De Lea FOXBusiness
Senate Democrats blocked an attempt by Republicans to push through a $500 billion relief provision.
President Trump went after House Speaker Nancy Pelosi ...
- Putin says Dem Party closer to ‘ideas’ that gave rise to communism
By Morgan Phillips | Fox News
Putin was a member of the Soviet Communist Party for nearly two decades.
Russian President Vladimir Putin said the U.S. Democratic Party is closer to ...
- Russia, Iran attempting to influence 2020 elections to damage Trump, cause chaos, DNI Ratcliffe announces
By Sam Dorman | Fox News
‘Know that our election systems are resilient and you can be confident your votes are secure.’
Russia and Iran are attempting to influence the 2020 elections and have obtained some ...
- Biden campaign faces backlash for TV ad depicting Michigan tech CEO as struggling bar owner
By Danielle Wallace | Fox News
The Blind Pig co-owner blamed President Trump, not Democratic Gov. Whitmer, for his bar’s economic downturn.
The Biden team is under fire for releasing ...
- Trump says choice is ‘American Dream’ or ‘socialist hellhole’ in 2020 race
By Audrey Conklin | Fox News
US would be ‘no different than Venezuela’ under a Biden administration, Trump tells ‘Fox & Friends’.
President Trump on Tuesday equated the race between himself and ...
![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")
