Trump Backs Warsh: Fed Leadership Could Lift US GDP Growth to 15% Annually

U.S. President Trump told Fox Business on February 9, 2026, that if Kevin Warsh, a potential nominee for Federal Reserve chair, is confirmed, he could lift U.S. economic growth to 15% annually, a highly optimistic target given the current 2.4% annualized forecast for 2026 and a 2.8% historical average over the past 50 years. Trump criticized nominating Powell over Warsh, who he describes as the “runner-up” in the selection process, and suggested Warsh’s agenda would favor rate cuts rather than hikes. He acknowledged a potential hold on confirmation by Sen. Thom Tillis (R-N.C.) pending an ongoing DOJ investigation into Powell and a Fed building renovation scandal, though Trump said he would “wait and see.” A 15% annual growth rate would likely exacerb inflation, while Fed officials project only one rate cut in 2026, per December’s median forecast. The timing of Warsh’s nomination and confirmation remains uncertain amid political and legal challenges.