The seven-year upswing which started in 1982 (with a “pause that refreshes” in 1986) should not be regarded as the norm: it can be exceeded. The current upswing has, already, lasted almost as long and seems to have a fair bit of life left in it yet.
The price that may have to be paid for these long-lasting upswings is to avoid periods of excessive exuberance -this is what brought the 1980s upswing to a halt. This was the motivation for the 1994 policy response -- to avoid the stop/go policies of earlier years. We should, instead, be prepared to allow growth to build momentum over time, without becoming too impatient.