- FAA Dismisses Claims Weekend Flight Cancellations Were Related to Vaccine Mandates
By Christopher Burroughs
The Federal Aviation Administration (FAA) announced the numerous flight cancellations at Southwest Airlines and other airlines over the weekend were not related to vaccine ...
- Republicans Warn Biden’s IRS $600 Disclosure Plan Could Lead to ‘Surveillance State’
By Masooma Haq
Republicans are sounding the alarm over a proposal tucked inside the Democrats’ 2,500-page $3.5 trillion Build Back Better Act that would expand the ...
- Texas Governor Issues Executive Order Banning Vaccine Mandates by Any Entity
By Mimi Nguyen Ly
Texas Gov. Greg Abbott on Monday issued an executive order that bans vaccine mandates by any entity, including private employers, in the ...
- Oregon Senators Call for Investigation Into Alleged COVID-19 Statistical Manipulation
By Tammy Hung
Oregon state Sens. Kim Thatcher and Dennis Linthicum, both Republicans, have petitioned Acting U.S. Attorney Scott E. Asphaug to launch a grand jury investigation into ...
- NYC’s Unvaccinated Teachers Need to Waive Right to Sue for 1 Year of Health Benefits
By Petr Svab
Aside from being put on unpaid leave, New York City teachers who’ve declined to get the COVID-19 vaccine won’t be allowed to keep their ...
- Georgia Official Urges DOJ to Investigate Fulton Voter After Two Fired for Allegedly Shredding Voting Applications
By Zachary Stieber
Georgia Secretary of State Brad Raffensperger on Monday called on the U.S. Department of Justice to investigate Fulton County after the county fired two workers ...
- Southwest Airlines Pilots Union Sues to Block COVID-19 Vaccination Mandate
By Jack Phillips
A union representing thousands of Southwest Airlines pilots filed a lawsuit against the carrier after the company announced mandatory COVID-19 vaccination requirements.
In ...
- Biden’s $600 IRS Taxpayer Reporting Proposal ‘Massive Invasion of Financial Privacy’: Bank Association Exec
By Tom Ozimek
The proposed bank account reporting law drawn up by the Biden administration is a violation of Americans’ financial privacy and is a costly regulatory burden ...
- Used-Car Prices Soar to Record High Amid New-Vehicle Inventory Slump
By Tom Ozimek
Wholesale used car prices hit a record high in September with the chip shortage and other supply constraints squeezing new-vehicle inventories and ...
- Oil Up as Industries Switch From Gas, Little Sign Supply Crunch Easing
By Reuters
Oil prices rose on Friday, and were on track for gains of nearly 5 percent this week, on signs some industries have begun switching fuel from ...
- Virginia Judge Hands Victory to Parents, Sides Against Prosecutor on School Board Recall
By Jack Phillips
A Virginia-based parent group attempting to oust five Loudoun County School Board members was given a small win after a Loudoun County Circuit Court judge ...
- American Employers Added 194,000 Jobs in September, Far Below Expectations
By Tom Ozimek
U.S. employers added fewer than 200,000 jobs in September, sharply undershooting market expectations and painting a picture of labor market recovery that’s ...
![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")
