Lates News

date
10/02/2026
Trump said that his nominee for Federal Reserve Chairman can stimulate the economy to grow at a rate of 15%. This extremely optimistic goal highlights the tremendous pressure that Kevin Wash will face once appointed. It is not clear whether Trump is referring to year-on-year growth or other metrics. The US economy is expected to grow by 2.4% this year, while the average annual growth rate over the past fifty years has been 2.8%. Since the 1950s, the US GDP has only grown by more than 15% a few times, including in the third quarter of 2020 when businesses reopened after the pandemic shutdown. These remarks clearly demonstrate Trump's hope that Wash will inject energy into the economy after being appointed to cope with the historically challenging midterm elections for US presidents. It also suggests that Wash's future work may be as delicate as walking on a tightrope.