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As we wrap up the first quarter of the year it is a good time to take stock of what happened in 2017. Last year was a strong year by most measures, but as we have noted, the economy may be reaching its limits. Some factors are cooling off from their highs seen in 2016, such as employment growth. Unemployment continues to fall even lower locally than it is nationally, begging the question of how low the natural rate of unemployment is in this economy ñ and who is actually considered to be unemployed. Inflation has the Fed's attention. Later this year they will decide if the economy is reaching the point where rates are raised four times this year as they're hinting rather than three.