- US Households Must Earn Nearly $108,000 to Afford a Median-Priced Home: Report
By Naveen Athrappully
Housing affordability has dropped considerably in major American metros, according to the latest data published by Oxford Economics in a Nov. 11 ...
- Republicans Sue to Prevent Counting of Undated Ballots in Pennsylvania Senate Race
By Sam Dorman
Republicans have asked the Pennsylvania Supreme Court to intervene in the state’s Senate race, alleging that several counties are violating the court’s ...
- Doug Burgum: 5 Things to Know About Trump’s Pick for Interior Secretary
By John Haughey
President-elect Donald Trump on Nov. 14 nominated out-going North Dakota Gov. Doug Burgum to be secretary of the interior.
Burgum, 68, a wealthy ...
- Trump Taps Attorneys Todd Blanche For Deputy AG, Dean John Sauer for Solicitor General
By Sam Dorman and Nathan Worcester
WASHINGTON—President-Elect Donald Trump on Nov. 14 announced three figures to help lead the U.S. Department of Justice (DOJ), including ...
- Trump Picks RFK Jr. as Secretary of Health and Human Services
By Austin Alonzo and Jeff Louderback
President-elect Donald Trump on Nov. 14 said he is “thrilled to announce” Robert F. Kennedy Jr. as his nominee ...
- Judge Says Prosecutor Failed to Prove Musk’s $1 Million Voter Sweepstakes Was Illegal Lottery
By Tom Ozimek
A Philadelphia judge ruled on Tuesday that District Attorney Larry Krasner did not provide sufficient evidence to prove that Elon Musk’s $1 ...
- China-Linked Hackers Conduct ‘Broad and Significant’ Espionage Against US Telecom Companies, Says FBI
By Frank Fang
Chinese state-sponsored hackers have breached several U.S. telecommunication providers, in a cyber campaign aimed at stealing data from individuals working in government ...
- US Ambassador Accuses Mexican Government of Refusing Help in Fighting Drugs Cartels
By Chris Summers
The U.S. ambassador to Mexico, Ken Salazar, accused the Mexican government of being in denial over the country’s security problems and refusing ...
- Republicans Win Trifecta Control of Government–What Happens Now?
By Joseph Lord, Jackson Richman and Emel Akan
WASHINGTON—With Republicans projected to retain control of the U.S. House, the GOP has won a trifecta in ...
- Trump Picks Tulsi Gabbard as Director of National Intelligence
By Ryan Morgan
President-elect Donald Trump has named former congresswoman Tulsi Gabbard as his pick for the director of national intelligence role in his incoming ...
- Trump Selects Matt Gaetz as US Attorney General
By Zachary Stieber, Joseph Lord and Arjun Singh
President-elect Donald Trump on Nov. 13 said he’s selecting Rep. Matt Gaetz (R-Fla.) to be attorney general ...
- Sen. John Thune Elected Senate GOP Leader
By Mark Tapscott
WASHINGTON—Senate Republicans on Wednesday selected Sen. John Thune of South Dakota as their new leader in the 119th Congress, succeeding Sen. Mitch ...
![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")
