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Jim Grant says Donald Trump will either be really good for market or really bad, no in between

Jim Grant, founder of Grant's Interest Rate Observer, shared his views on the market, President Donald Trump and the Federal Reserve in an exclusive interview Thursday with CNBC's "Squawk Box."

On the president: "I think Donald Trump is the avatar of tail risk. He is personally the expression of possible disparate extreme outcomes. Things could be, as he might say, great. They could be really nice or not."

On future Trump appointments to the Fed: "My guess is he's going to put someone who is very dovish. I think he is a former leveraged New York City real estate speculator who loves low rates."

He also discussed:

  • Market valuation
  • Why he voted for Trump
  • Federal Reserve policy

To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.