What a difference six months make. In February the president of Ukraine, Volodymyr Zelensky, was booted out of the White House after an acrimonious meeting with Donald Trump. Today the two men were back in the Oval Office, sharing smiles and seeking to end the war in Ukraine. Crucially, Mr Trump now seems open to security guarantees for the beleaguered country. A meeting involving Mr Trump, Vladimir Putin and the man Russia has sought to kill, Mr Zelensky, could take place in the not-too-distant future.

In other news, many analysts think America’s economy is headed for a rough patch. Businesses are weighed down by high interest rates and tariff chaos. Inflation remains a problem. But in one area, the economy is surging forward. American firms are building the infrastructure needed for AI at a breakneck pace. One estimate puts the AI boom’s contribution to real GDP growth at 40%.