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American consumers are expected to fall behind on their personal loan and credit card payments next year at the highest rate in over 10 years, consumer credit reporting agency ...
- Senate Unanimously Passes Bill to Ban TikTok on All Government Devices Amid National Security Concerns
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The U.S. Senate on Wednesday voted unanimously to pass legislation that would ban the use of the video-sharing app TikTok on government phones and devices ...
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By Mark Tapscott
House Republican leaders condemned on Wednesday the failure of Democrats who controlled both chambers of Congress and the White House for waiting ...
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A judge ruled last week Los Angeles County election officials must allow organizers behind the effort to recall Los Angeles District Attorney George Gascón ...
- Mike Lindell Officially Announces Bid for RNC Chair
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MyPillow CEO Mike Lindell repeated his claims that the GOP has lost the trust of its supporters and donors while announcing the launch of ...
- The Mysterious Death of Seth Rich and the WikiLeaks Release of DNC Emails
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News Analysis
Recent revelations that the FBI is in possession of additional materials from the work computer of Seth Rich, a Democratic National Committee (DNC) staffer murdered ...
- Rep. Lauren Boebert Wins Reelection, Recount Confirms
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Rep. Lauren Boebert (R-Colo.) will serve another term in Congress after a recount showed she triumphed in her reelection bid, Colorado officials confirmed late Dec. 12.
The ...
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A judge overseeing Republican Arizona gubernatorial candidate Kari Lake’s electoral lawsuit ordered Lake, Secretary of State and Arizona Gov.-elect Katie Hobbs, Maricopa County Board of ...
- Biden Administration Approves Health Insurance for Illegal Immigrants in Washington State
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The Biden administration has approved a waiver that will allow Washington state to offer health insurance to illegal immigrants.
The waiver, known as the “State Innovation ...
- Louisiana Voters Approve Measure Barring Voting for Non-US Citizens
By Katabella Roberts
Louisiana voters on Dec. 10 approved a number of state constitutional amendments, including one that bans non-U.S. citizens from voting in elections.
All three amendments, which also ...
- Elon Musk’s Latest ‘Twitter Files’ Detail Exactly How Trump Was Banned
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The latest installment of the Elon Musk-endorsed “Twitter files” was published Monday, revealing more internal details about how and why the social media ...
- Kari Lake, Abe Hamadeh, Mark Finchem Formally Contest Arizona Election Results
By Mimi Nguyen Ly
Three Republican nominees for state government positions in Arizona on Friday filed three separate lawsuits to formally contest the midterm election results that ...
![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 5")
