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By Katabella Roberts
Former President Donald Trump purchased McDonald’s for police and fire department members as well as residents during his visit to East Palestine, Ohio on ...
- McCarthy Breaks Silence on Giving Jan. 6 Footage to Tucker Carlson
By Tom Ozimek
House Speaker Kevin McCarthy (R-Calif.) has broken his silence on why he gave Fox News host Tucker Carlson access to thousands of hours of ...
- US Pledges ‘Consequences’ for China if it Provides Military Aid to Russia
By Andrew Thornebrooke
The United States is prepared to impose consequences on China’s communist regime should it provide lethal military aid to Russia for the ongoing war in Ukraine.
State Department spokesperson ...
- DeSantis Has ‘Decades Ahead of Him’ When He Can Be President: Sarah Palin
By Naveen Athrappully
Sarah Palin, the former governor of Alaska, does not believe that Florida Governor Ron DeSantis should run for U.S. presidency in the ...
- Norfolk Southern Lawsuits and Accident Reports Show Rail Tragedy a Common Hazard
By Beth Brelje
It will take time, possibly years, to understand the cause and costs of the Feb. 3 train derailment in East Palestine, Ohio, ...
- DeSantis Discloses Timeline of 2024 Decision
By Bill Pan
Florida Gov. Ron DeSantis on Monday indicated that he still has unfinished business in the coming months before he could officially enter the ...
- Tulsi Gabbard, Jimmy Dore, Ron Paul Call for End to Ukraine War
By Liam Cosgrove
WASHINGTON—Red flags with the communist symbol hammer and sickle flew side by side with Gadsden “DON’T TREAD ON ME” flags at the ...
- Federal Agency Warns Millions of Microsoft Users to Update Settings
By Jack Phillips
The U.S. Cybersecurity and Infrastructure Security Agency (CISA) issued more alerts related to security vulnerabilities exploited in attacks targeting Microsoft Windows, Adobe products, and Mozilla software.
The ...
- Project Veritas Loses Hundreds of Thousands of Followers Following James O’Keefe’s Exit
By Jack Phillips
Amid a war of words between Project Veritas board members and its founder, James O’Keefe, the organization’s social media platforms have seen an exodus ...
- Supreme Court Rejects Maryland Election Ruling Challenge by GOP’s 2022 Candidate for Governor
By Matthew Vadum
The Supreme Court rejected on Feb. 21 Republican Dan Cox’s challenge to a state court order he argued unconstitutionally allowed the early ...
- Kari Lake Confirms She’s Taking Election Lawsuit to Supreme Court
By Jack Phillips
Arizona GOP candidate Kari Lake indicated she is still planning to take her election-related lawsuit to the state Supreme Court after an appellate court ...
- Republicans Push Back Against Accord Giving WHO Power Over US Pandemic Response
By Kevin Stocklin
As member states of the World Health Organization (WHO) prepare to gather in Switzerland next week to negotiate final terms of an ...
![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")
