i have to admit, that is better than what I had expected.   I was thinking we would see sub 2% growth for 1Q.

but then I am never quite sure how much these things may be skewed by govt bean counters who "massage" the figures.  

It's better than most, including me, expected.  Business inventories are higher than expected.

Listening to the news this afternoon, they were talking about the Fed raising interest rates to slow down the econimic growth. Seems we are advancing oveall, a little too fast to suit them. As a futures trader, it sounds like opportunity to me.

By definition, the Fed's primary function is to control inflation.  They do this through prime rate and money supply. "Target" inflation rate is around 2%.  

Inflation has not been much of a concern since the "great recession", but as economic activity increases, they are, IMO, in a more preemptive proactive stance than a reactive one.