Trump: If Powell takes over the Fed, the US economic growth rate "can exceed 15%"

President Donald Trump said that his nominee is expected to promote economic growth of 15%, a goal that is ambitious and clearly reflects the huge challenges that Kevin Wash might face if he ultimately gets the position. Trump said, "If Wash can do his best, then I think we can achieve growth of 15% or even higher." "I think he will be outstanding, and he is a highly qualified person." The specific indicators that Trump referred to - whether it is year-on-year growth or other measurement dimensions - are not yet entirely clear. The US economy is expected to grow by 2.4% this year, while the average annual growth rate over the past 50 years has been around 2.8%. Looking at historical data, the US Gross Domestic Product (GDP) has only achieved growth rates of over 15% in a few quarters since the 1950s, with a typical example being the third quarter of 2020 - when businesses gradually resumed operations after closing due to the pandemic, driving the economy to rebound. During the search for a new Federal Reserve Chairman, Trump openly stated that he expected to find a candidate who could push interest rates down, later adding, "If Wash advocates for raising rates, I will not even consider him." These statements reveal Trump's strategic intent - he is betting that if Wash ultimately gets the position, he will be able to inject strong momentum into the economy before the midterm elections. Midterm elections have always been seen as a "key litmus test" for a president's governing ability, and this political consideration intertwined with economic goals puts Wash in a precarious position. These remarks also indicate that Trump has an unusually calm attitude towards inflation issues. Typically, when economic growth approaches the unconventional range of 15%, the inflation rate tends to skyrocket and stubbornly remain at high levels, but Trump does not seem to show the vigilance that a conventional policy maker should have about this. It is worth noting that in the latest economic forecasts released by Federal Reserve officials in December of last year, only one rate cut operation is preliminarily set for 2026; however, market investors generally expect two rate cut cycles to occur this year. Trump said that in the last round of selecting a Federal Reserve Chair, Kevin Wash was his "second choice," and ultimately selecting Jerome Powell for the position was a "major strategic mistake." In a segment of an interview aired on Monday, Trump specifically pointed out that it was then Treasury Secretary Steven Mnuchin's strong advocacy that led to Powell's nomination. Trump mentioned Powell, saying, "My Treasury Secretary really wanted him to take office, really wanted... and at the time I didn't feel too good about him, but sometimes you listen to others, and it turned out to be a mistake, a big mistake." Trump's full interview will air on Tuesday. Powell was re-elected during Joe Biden's tenure, but later became a target of Trump's attacks. Trump strongly advocated for rate cuts and broke with decades of tradition by questioning the independence of the Federal Reserve. This political offensive may delay Wash's formal assumption into office - retiring Republican Senator Thom Tillis of North Carolina has publicly stated that as long as the Trump administration continues to investigate Powell, he will take action to obstruct any personnel confirmation process for the Federal Reserve.