- 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 ...
- Texas Military Investigating Loaded M4 Carbine Found in Unguarded Truck
By Juliette Fairley
A loaded semi-automatic M4 carbine was found unattended in a vehicle this week and is thought to belong to Texas Military Department (TMD) soldiers.
But ...
- Biden Spoke to Hunter About China Business Deals, Voicemail Reveals
By Rita Li
A recovered voicemail reveals President Joe Biden called his son, Hunter Biden, in late 2018 to discuss a New York Times report on the latter’s ...
- 4 Arrested, 2 Charged Over Deadly Smuggling Operation That Left 53 Dead in Texas
By Caden Pearson
Four people have now been arrested in connection with the people-smuggling operation that resulted in the deaths of 53 people in the back ...
- Supreme Court Upholds Federal Anti-Discrimination Law Protecting Veterans
By Matthew Vadum
Texas violated a federal anti-discrimination law protecting veterans by refusing to rehire a former state trooper after he was injured in the Iraq War ...
- Trump-Backed Boebert Wins Colorado Republican US House Primary
By Nanette Holt
Trump-backed Rep. Lauren Boebert (R-Colo.) easily blasted past her challenger, a veteran state lawmaker, to win the Republican primary on June 28.
By 9:57 p.m. ...
- Texas Attorney General Launches Investigation Into Walmart’s Prescription Opioid Sales
By Katabella Roberts
Texas Attorney General Ken Paxton said on Tuesday said he is investigating retail giant Walmart over potential violations of the Texas Deceptive Trade Practices Act relating to its ...
![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 | USNN World News")
