The Federal Reserve's June minutes said AI-driven expansion is sustaining real
investment in data centers, high‑tech equipment and software. Existing
indicators show Q2 real GDP growth remained robust. Real private domestic final
expenditures — including PCE and private fixed investment — rebounded in Q2 and
outpaced GDP; consumption was strong. April trade data showed continued strength
in high‑tech goods flows and a marked rise in energy exports.