In a recent interview, the former president claimed that his candidate for the Fed chair, Kevin Warsh, could help the U.S. economy grow at a remarkable 15% rate.
He said Warsh was the runner‑up in his search and that choosing the current chair was a big mistake.
The former president added that if Warsh does the job well, growth could exceed 15%. He didn’t specify whether that meant year‑over‑year growth or some other metric.
With the economy expected to expand about 2.4% this year and an average 2.8% over the past five decades, a 15% jump is extraordinary—something that has only happened a handful of times since the 1950s.
He has long wanted a candidate who would lower interest rates and would not have selected Warsh if the nominee favored raising rates.
These comments hint that the former president believes Warsh can spark a surge in growth ahead of the midterm elections, which historically have been difficult for sitting presidents.
Warsh’s confirmation may face delays, as a senator from North Carolina pledged to block any Fed appointment while the administration pursues a Department of Justice probe into the current chair and a Fed building renovation project.
When asked about the potential hold‑up, the former president said, “If it happens, it happens,” showing little concern about a possible delay.
His remarks suggest he’s not worried about inflation, which would likely rise with such rapid growth, even though Fed officials expect only one rate cut in 2026.
He also noted that the Treasury Secretary had pushed for the current chair—a decision he described as a mistake—and that he had to listen to people.
The current chair was reappointed under a different administration but has become a target of the former president, who has pushed for lower rates and challenged the Fed’s independence.
Additional details about the confirmation complications have been added to the story.
