Trump Sees US Economy Soaring Past 20% Growth

President Donald Trump expressed optimism about the US economy's growth potential, stating that it could reach rates as high as 20%. According to Trump, rapid growth should not prompt the Federal Reserve to raise interest rates. The President made this comment during an Oval Office event announcing agreements aimed at lowering prescription drug prices.

The last time the US GDP grew at an annualized rate of 20% or more was in the third quarter of 2020, following the post-Covid rebound. In contrast, the economy grew at a 1.5% annualized rate in the second quarter of 2026, while inflation remains above the Fed's 2% target.

Trump emphasized that 'success in growth does not cause inflation,' suggesting that he believes the Federal Reserve should keep interest rates low despite rapid economic expansion.