- Noem Announces ICE Will Expand Efforts in Portland and Chicago
By Jack Phillips
The Trump administration will expand Immigration and Customs Enforcement (ICE) efforts in Portland and Chicago soon, Homeland Security Secretary Kristi Noem announced at ...
- Trump Signs Proclamation Reinstating Columbus Day
By Aldgra Fredly
President Donald Trump signed a proclamation on Oct. 9 recognizing Oct. 13 as Columbus Day in honor of Italian explorer Christopher Columbus.
“Columbus ...
- US Cyber Agency Issues Emergency Directive Amid Major Hacking Campaign Targeting Cisco
By Naveen Athrappully
The Cybersecurity and Infrastructure Security Agency (CISA) has issued an emergency directive asking federal agencies to take immediate action to identify and ...
- Homeland Security Approval Surges as Illegal Border Crossings Hit New Lows
By Tom Ozimek
Public approval of the Department of Homeland Security (DHS) has jumped sharply in the past year, making it the only major federal ...
- FBI, LAPD Raid Gang Linked to Mexican Mafia
By Jack Phillips
The FBI announced that it and the Los Angeles Police Department (LAPD) raided a Mexican Mafia-linked gang in Southern California, arresting more ...
- Takeaways From Pam Bondi’s Testimony Before Senate Panel
By Sam Dorman and Jacob Burg
Attorney General Pam Bondi testified about a wide array of topics before the Senate Judiciary Committee on Oct. 7, ...
- Memphis Residents Welcome Arrival of Federal Agents
By Travis Gillmore
MEMPHIS—Local residents and visitors are welcoming increased police presence in Memphis, as state and local law enforcement collaborate with federal partners under ...
- Trump Says He May Invoke Insurrection Act in Portland If Necessary
By Emel Akan
WASHINGTON—President Donald Trump on Oct. 6 said he may consider invoking the Insurrection Act in Portland, Oregon, if necessary.
“So far, it hasn’t ...
- Agencies Terminated, Descoped 94 Wasteful Contracts With $8.5 Billion Ceiling Value, Says DOGE
By Naveen Athrappully
Various federal government agencies have terminated and descoped 94 wasteful contracts over the past five days, the Department of Government Efficiency (DOGE) ...
- Newsom Says Trump Is Sending 300 California National Guardsmen to Oregon
By Jacob Burg
President Donald Trump is sending 300 members of the California National Guard to Oregon after a judge temporarily blocked him from deploying ...
- Trump to Deploy 300 National Guard Members in Illinois
By Tom Ozimek
President Donald Trump has authorized the deployment of 300 members of the Illinois National Guard to protect federal assets amid “violent riots ...
- Shutdown to Continue Through Weekend After Senate Rejects Funding Plan Again
By Jackson Richman
WASHINGTON—The federal shutdown will continue through the weekend as the Senate once again rejected rival funding bills to reopen the government on ...
![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")
