- EPA Orders Temporary Halt to Shipping of Ohio Toxic Train Crash Contaminated Waste
By Jeff Louderback
Amid objections from Michigan authorities who said they were not aware hazardous materials were headed into their state, the U.S. Environmental Protection ...
- Biden’s Agenda for US Military in 2023 Transforms the Institution to an Unprecedented Degree, Analysts Say
By Michael Washburn
News Analysis
The Biden administration’s efforts to revise and extend radical policies affecting the culture of the U.S. military and the status of ...
- Marianne Williamson Confirms Presidential Bid
By Gary Bai
Marianne Williamson, progressive activist and author of multiple self-help books, became the first Democratic candidate to enter in the 2024 presidential race ...
- Railroad Company Linked to Toxic Train Crash Helped Fund Ohio Governor’s Campaigns: Report
By Jeff Louderback
Ohio Gov. Mike DeWine, who authorized an end to the evacuation order of East Palestine two days after a controlled burn sent ...
- Republican House Judiciary Committee Members Gear up for ‘Fight’ to Secure Southern Border
By Allan Stein
YUMA, Ariz.—House Judiciary Committee Chairman Jim Jordan (R-Ohio) said he wasn’t surprised no Democrats attended the committee’s second hearing on the southern border crisis in Yuma ...
- Rancher Accused of Shooting Mexican National at His Border Property Released From Jail
By Mimi Nguyen Ly
An elderly Arizona rancher who is accused of killing a Mexican national at his border property has been released from Santa Cruz County ...
- New York City Business Hires K-9 Units Amid Rise in Shoplifting Thefts
By Katabella Roberts
Amid a surge in shoplifting crimes in New York City, one of the Big Apple’s largest shopping districts has hired K-9 units in an effort to ...
- Major Association of US Doctors Makes Official Statement on Transgender Procedures for Minors
By Mimi Nguyen Ly
The Association of American Physicians and Surgeons (AAPS) is warning about “unknown and unknowable long-term risks” it says are inherent to “gender-affirming ...
- Gun-Toting Wing of IRS Wants to ‘Put the Fear of God in People’: Ex-Agent
By Tom Ozimek
As the Internal Revenue Service seeks to bolster the ranks of its weapon-carrying Criminal Investigation unit, a former special agent described the ...
- Ethics Complaint Filed Against California Rep. Katie Porter Claims She Misused Official Resources in 2022 Reelection Campaign
By Mark Tapscott
A nonprofit government ethics watchdog claims that Rep. Katie Porter (D-Calif.), who is running to succeed Sen. Diane Feinstein in the 2024 ...
- Senate Republicans Introduce Legislation Prohibiting IRS From Conducting Financial Surveillance on Private Citizens
By Mark Tapscott
Thirty-one of the Senate’s 49 Republicans are co-sponsoring a bill to nullify a Biden administration proposal by banning the IRS from conducting surveillance on ...
- Trump Delivers Bottled Water During Visit to Ohio’s Toxic Derailment Site, Criticizes Biden Admin’s Response
By Samantha Flom
Former President Donald J. Trump met with East Palestine, Ohio, residents and officials on Feb. 22, to provide much-needed bottled water and cleaning supplies ...
![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")
