Billionaire investor Warren Buffett, chairman and CEO of Berkshire Hathaway, told CNBC on Wednesday that U.S. economic growth does not feel like 3 percent.

The 3 percent threshold is what President Donald Trump and his administration want to achieve for gross domestic product growth.

The government reported on Wednesday that GDP increased at a 3.0 percent annual rate in the second quarter. The upward revision from the 2.6 percent pace reported last month reflected robust consumer spending as well as strong business investment.

“I would guess we’re in a 2 percent growth economy now,” Buffett said on “Squawk Alley.” “Every now and then we think it’s accelerating. And every now and then that maybe there’s a double dip or something. It just seems to be a couple of percent.”

“If we have 2 percent for a generation, 25 years, you would have a would have a $19,000 GDP gain per person in the United States,” he added.

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