Very low (stated) unemployment is good news. Better news is that 2nd Quarter GDP growth is estimated at 4.8%, which is downright hot.
https://www.frbatlan...rch/gdpnow.aspx
The bad news is that such may put pressure on the Fed to raise rates, and if they over-do it--and they often do-- it could kill the goose that laid the golden egg.
The good news is that we are still outside the "danger zone" on capacity utilization (80-85%), so we have a way to go, and, if repatriated cash goes to add efficient capacity, it could allow much more growth without much inflation. Cross your fingers.
https://fred.stlouisfed.org/series/TCU
Also, if somehow we start running surpluses, the dollar will surge, I think and we can export some inflation and keep the growth going.
Cross your fingers. I'm watching this like a hawk.