{
  "id": 4852740,
  "title": "Trump says U.S. GDP could grow 20%, pushes Fed to cut rates",
  "url": "https://urgent.news/2026/09/01/trump-says-u-s-gdp-could-grow-20-pushes-fed-to-cut-rates",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-01T11:31:06.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/economy/articles/trump-says-u-gdp-could-113106175.html"
  },
  "original_language": "en",
  "account": "President Donald Trump stated on Monday that the U.S. economy has the potential to achieve growth rates as high as 20%, asserting that the Federal Reserve should not increase interest rates in response to such expansion. During an Oval Office event addressing prescription drug prices, Trump listed hypothetical GDP figures ranging from 14 to 20, emphasizing that such growth would be unprecedented in modern history. Only one quarter in the past 80 years has recorded annualized real GDP growth of 20% or higher, occurring in the third quarter of 2020 when the economy expanded at a remarkable 34.9% annualized rate following the COVID-19 pandemic shutdowns.\n\nThe U.S. economy is currently growing at a sluggish 1.5% annualized rate in the second quarter of 2026, down from 2.1% in the previous quarter. Meanwhile, the personal consumption expenditures price index increased by 5.3% annually, while core PCE, the Federal Reserve's preferred inflation gauge, rose by 3.6%, both exceeding the Fed's 2% target. Trump argued that stronger growth justifies the Federal Reserve lowering interest rates, rather than raising them. He claimed that in the past, when positive economic data was announced, interest rates would decrease. Trump contended that modern Fed practices are driven by fear of inflation, causing interest rates to rise even when economic growth is strong.\n\nThe Federal Reserve maintained its benchmark rate at 3.5% to 3.75% in July, with three policymakers dissenting in favor of a quarter-point increase. Wall Street anticipates a September rate hike at the Federal Open Market Committee's next meeting. Economic experts note that robust GDP expansion alone does not lead to rising prices. Price levels tend to remain relatively stable when output and productivity growth match consumer spending. However, inflation can occur when demand outpaces the economy's ability to supply goods and services.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}