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

President Donald Trump told reporters Monday that U.S. economic growth could reach 20%, a rate achieved only once since World War II, while insisting the Federal Reserve should not raise interest rates even if such expansion materializes. Inflation remains above the central bank's 2% target.

Trump's projection sharply diverges from consensus Wall Street forecasts and historical precedent. The U.S. has recorded quarterly GDP growth near or above 20% only once in the postwar era, during the third quarter of 2020, when the economy rebounded from pandemic lockdowns. The president's comments signal continued pressure on Fed Chair Jerome Powell to hold rates steady despite persistent price pressures.

The remarks come as the Federal Reserve maintains its data-dependent stance on monetary policy. The central bank has repeatedly stated that rate decisions hinge on progress toward its 2% inflation mandate, regardless of growth velocity. Trump's public commentary renews concerns about political pressure on Fed independence ahead of upcoming rate decisions.