Take, for example, the fact that after months of dismal jobs numbers and recession predictions, a recent White House press release touted the U.S. Bureau of Economic Analysis’ revision of second quarter GDP numbers as “explosive growth” for the economy — along with positive reactions from various financial experts.

U.S. economic activity was little changed and employment was largely stable in recent weeks, the Federal Reserve said on Wednesday, but there were emerging signs of weakness including more layoffs and middle- and lower-income households pulling back on spending.

The U.S. economy expanded at a surprising 3.8% from April through June in a dramatic upgrade of the government's previous estimate of second-quarter growth.

Nvidia has become the world’s most valuable firm because its chips are the AI industry’s physical lynchpin. Increasingly, its deals are the financial equivalent. According to PitchBook, a data provider, Nvidia has invested in 50 firms this year alone. Many are tiny: at the end of July the firm valued its ownership of private companies at just $4bn.

The U.S. economy grew at an annualized rate of 3.8% in the second quarter in the government's final estimate, besting a 3.3% rate issued in its second estimate and far exceeding a 3% initial estimate.

Air travel, taxpayer services and national parks are among the first government functions to feel the strain of a prolonged impasse.

Investment in AI ignited a fire under the U.S. economy. But the technology hasn’t yet fulfilled the promise of making humans work more efficiently.