You're living in an almost-perfect economy.

John Williams, president of the Federal Reserve Bank of San Francisco.
 REUTERS/Stephen Lam

Is right now as good as it gets for the economy?

San Francisco Fed President John Williams seems to be saying we’re getting pretty darn close. In an interview with me at the Yahoo Finance headquarters, Williams said that the economy was “in a good place,” and that the Fed’s job has now changed from getting the economy back on track to keeping the economy on track.

It’s an important distinction.

As the economy has recovered from the Great Recession of 2009 when the unemployment rate hit 10%, the Fed has moved from stabilizing the U.S. economy and bringing it back to life, to now keeping an eye on making sure it doesn’t overheat as the rate of unemployment has dropped to 4.7%.


By Andy Serwer.
Full story at Yahoo News.