Pimco's Kiesel Says U.S. Economy Is Running Hot

The transcript discusses the current state of the job market, highlighting the addition of 2.1 million private sector jobs over the past year and the highest wages in eight years. The economy is expected to grow at 2.5% with potential upside risks. Despite a declining unemployment rate, concerns are raised about the U6 measure of unemployment and the volatility in the labor market. The discussion also touches on wage trends, labor market constraints, and the impact of Fed tightening on future job growth.

What are the potential risks to economic growth mentioned in the discussion?

What concerns were raised about the black unemployment rate?