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By Jack Phillips
Tech billionaire Elon Musk revealed that he believes certain unions are primary drivers of the Democratic Party’s and Biden administration’s policies.
“The general public is ...
- SCOTUS Seems Likely to Take Up Case That Could Recognize States’ Power to Regulate Elections
By Matthew Vadum
News Analysis
The Supreme Court seems likely to accept a new election law case that Republicans hope will recognize what they say is the preeminent ...
- Biden’s IRS Spent Approximately $700,000 on Ammo ‘Between March and June 1’
By AWR Hawkins
Rep. Matt Gaetz (R-FL) told Breitbart News Saturday the IRS spent approximately $700,000 “between March and June 1” purchasing ammunition.
He noted he ...
- Texas GOP Delegates Rebuke Senior Senator Over Gun Control Legislation
By Darlene McCormick Sanchez
In a unanimous vote, Texas GOP delegates passed a resolution rebuking their senior U.S. Senator and other Republicans working with Democrats for gun control ...
- Gas Prices ‘Killer’ for Biden and Democrats in Midterm Elections: House Republican
By Allan Zhong
President Joe Biden and Democrats will pay hard during the coming midterm elections because of soaring gas prices, a House Republican alleged.
“I think ...
- Democrats Face Turmoil As Concerns Mount About Biden’s Suitability to Run in 2024, Observers Say
By Michael Washburn
The widely-expected losses that the Democratic Party will face in the November midterm elections, as voters register their frustration and anger over ...
- Progress on Senate Gun Control Package Stalls as Senators Fail to Reach Final Agreement
By Joseph Lord
After some optimistic signs for Democrats hoping to reach a bipartisan agreement on a gun control package, progress in the negotiations has ...
- Florida to Go After Parents Who Pay Cartels to Smuggle Their Children Into the US
By Charlotte Cuthbertson
Florida Gov. Ron DeSantis is looking to investigate and prosecute parents who pay transnational criminal organizations to smuggle their children illegally across ...
- Reversing 2018 Ruling, Iowa Supreme Court Finds State Constitution Does Not Protect Abortion Rights
By Matthew Vadum
The Supreme Court of Iowa on June 17 overturned a four-year-old decision it made holding that the Iowa Constitution guarantees the right to abortion, and ...
- Liberal Virginia Prosecutor Removed From Criminal Case for ‘Deliberately Misleading Court’
By Katabella Roberts
A liberal prosecutor in Loudoun County, Virginia, has been removed and disqualified from a serial burglary case by a judge for allegedly “deliberately ...
- Joe Biden Says He is Unpopular Because Americans Are Mentally Unwell
By Christina Laila
Joe Biden’s poll collapse continues with the latest CIVIQS poll showing the man who we were told got 81 million votes for president just over a ...
- Parents Rally Over ‘Malicious Misgendering’ School Policy in Northern Virginia
By Terri Wu
FAIRFAX COUNTY, Va.—A group of parents rallied outside the Fairfax County school board meeting on Thursday night to protest the board’s new ...
![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")
