But the economy is already running at or near its productive capacity.
But basically the economy is running at a comfortable pace.
The underlying problem is that Europe's economies run on very different cycles.
"The economy cannot run by legislation and official texts," he said then.
The surplus, he said, provides an important buffer should the economy run into trouble.
Couldn't there be something similar for countries whose economies run into sudden trouble?
That means the economy is running out of workers, as measured by the nation's low 5.8 percent unemployment rate.
But with the unemployment rate at 4 percent, a 30-year low, the economy is fast running out of workers, as the Fed sees things.
Despite appearances, the American economy is running on empty.
But I had to abort my economy run when the traffic slowed.