The 18-year-old summer arrival from Crewe scored on his competitive debut for the club against Wigan on Saturday and is being backed for big things by his manager
The 18-year-old made his competitive debut for the Red Devils from the bench after 70 minutes, replacing Scholes on his 700th appearance for the club.
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The Crewe youth product went on to score a fine goal from the edge of the box, reminiscent of many of his mentor's strikes at Old Trafford.
And Ferguson was understandably effusive in his praise for his latest midfield acquisition, making bold predictions about his future at the club.
"Powell is going to be a really good player who, we hope, will fill Paul Scholes's boots in terms of he's got terrific vision, good temperament, two great feet, is quick and is a great striker of the ball," he told MUTV.
Powell scored 16 goals in 45 appearances last season, including the opening goal in the Railwaymen’s 2-0 League Two play-off final victory.
It is reported that the fee for the England Under-19 international could rise to as much as £6 million.