U.S. 3Q GDP grows 3.4%, beating forecasts; AI investment boom fuels growth

U.S. GDP grew at a 3.4% annualized pace in the third quarter, beating the 3.1% consensus, as AI-driven business investment surged. Core PCE inflation accelerated to 3.1% as expected, and jobless claims fell to 194,000. Treasury yields slipped after the Fed held rates, with markets pricing a December hike. Oxford Economics warns the investment-heavy growth is a recession risk.