Arsenal star after an impressive start to his loan spell at Portman Road.
The 17-year-old, joined Ipswich on a season long loan deal and has made an immediate impact, starting all three of their Championship matches.
And on Tuesday night, the youngster provided the corner which David McGoldrick headed into the back of the net to seal a 2-0 win over Burnley.
After the match, McCarthy was full of praise for the teenager and predicted a bright future.
He told BBC Radio Suffolk: "Wow. The talent of him; I think he's going to play for Arsenal, there's no doubt in my mind.
"We are just so lucky to have him.
"Nobody knew anything about him. I watched him play against Reading for [Arsenal's] under-21s last season and I thought he was great.
"I enquired about him in January, but they needed him for their Champions League squad."
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