Trump says U.S. growth could hit 20%. It’s happened only once since WWII

U.S. Secretary of Commerce Howard Lutnick, U.S. Secretary of Health and Human Services Robert F. Kennedy Jr., and U.S. Center for Medicare & Medicaid Services (CMS) Administrator Dr. Mehmet Oz stand behind U.S. President Donald Trump, as he delivers remarks on his administration's healthcare policies, in the Oval Office at the White House in Washington, D.C., U.S., Aug. 31, 2026. Evelyn Hockstein | ReutersPresident Donald Trump said Monday that the U.S. economy could grow at rates as high as 20%, while arguing that even such rapid growth should not prompt the Federal Reserve to raise interest rates.“We could have a GDP of 14, 15, 16 and 20,” Trump said during an Oval Office event announcing agreements aimed at lowering prescription drug prices. “Success in growth does not cause inflation.”Trump’s comments came as he continues to push for lower borrowing costs even as Federal Reserve officials contend with inflation that remains above their 2% target. The Fed held its benchmark rate steady at 3.5% to 3.75% in July, with three policymakers dissenting in favor of a quarter-point hike. Many Fed watchers expect the Federal Open Market Committee to raise rates at its next meeting in ...