Yet despite the strong headline numbers, many economists warn that the economic expansion is fragile. Trump’s desire to run the economy “hot” risks rekindling rapid inflation, which could puncture the mood of ebullience.

"The United States is deeply indebted, and its finances are on an unsustainable long-term trajectory," says the Committee for a Responsible Federal Budget.

Treasury yields were relatively unchanged to end the week as investors weighed the state of the U.S. economy and fears eased around trade and geopolitics.

The economy remained on track this year, defying the gloomiest predictions. That doesn't mean Americans are thrilled with how things are going.

A consumer-fueled U.S. economy is still growing at a strong pace, a weak jobs market might be on the mend and inflation is still a lingering — if smaller — problem than it was a few years ago.

A global grain glut, trade disputes, and high input costs are contributing to the financial strain on the farm economy. The economic pressure is leading to job losses at equipment manufacturers and an increase in farm bankruptcies.

Revised data showed U.S. economic growth powered ahead last summer, confirming an upswing that has surprised analysts. Gross-domestic product grew at a 4.4% annualized rate between July and September,

Commerce Secretary Howard Lutnick predicts that first-quarter economic growth will heat up to 5%. But sustaining that pace won't be easy, economists say.