Arabic version: ترامب يقول إن نمو الولايات المتحدة قد يصل إلى 20%

According to Cnbc, President Donald Trump said the U.S. economy could grow at annualized rates as high as 20%, arguing that rapid expansion should not lead the Federal Reserve to raise interest rates. He made the remarks during an Oval Office event announcing agreements aimed at lowering prescription drug prices.

“We could have a GDP of 14, 15, 16 and 20,” Trump said. “Success in growth does not cause inflation.” He also renewed his push for lower borrowing costs, saying the United States should have the lowest interest rates anywhere in the world.

Growth at the level Trump described would be highly unusual in modern U.S. economic data. Real gross domestic product has grown at an annualized rate of 20% or more in only one quarter since 1947, according to Bureau of Economic Analysis data. That occurred in the third quarter of 2020, when the economy rose at a 34.9% annualized rate as businesses reopened after widespread Covid-19 shutdowns. The rebound followed a 28% annualized contraction in the prior quarter.

The next-highest quarter was the first quarter of 1950, when real GDP grew at a 16.7% annualized rate. No other quarter in the nearly eight-decade series reached 20%. By comparison, real GDP increased at a 1.5% annualized rate in the second quarter of 2026, down from 2.1% in the first quarter. Quarterly GDP figures are annualized, so a 20% reading would not mean the economy grew 20% during a single quarter.

The Federal Reserve held its benchmark rate at 3.5% to 3.75% in July, while inflation remained above its 2% target. Three policymakers dissented in favor of a quarter-point increase. Strong growth does not necessarily cause inflation, but prices can rise when demand outpaces the economy’s capacity to produce goods and services.