'Rome wasn't built in a day': How analysts say Trump may prevail on taxes and deregulation

Nothing wrong with regulation, but overregulation is a problem: Pro

By most indications, President Donald Trump's first two weeks in office have been a whirlwind that's left a number of investors and political observers exhausted.

Yet some say that could be just the antidote a polarized and moribund political establishment needs—and Trump could even achieve some long-held goals if he plays his cards right.

"So far we would characterize Donald Trump's presidency as "an unconventional Presidency" with a style that will likely continue to shake up the beltway establishment for the foreseeable future," John Stoltzfus, Oppenheimer Asset Management's chief investment strategist, told CNBC recently.

Trump's brash style, and his propensity to call out companies, countries and opponents on Twitter and TV appearances is a way to provoke dialogue, the strategist said.

"This could ultimately prove a worthy antidote from the gridlock that has dogged Washington for decades," Stoltzfus added.

In a meeting with his business advisory council last week, Trump reiterated his plans for tax reform, the centerpiece of his efforts to spur better growth. However, some think his push to repeal Obamacare could throw up roadblocks, with even some Republicans voicing doubts.

For the moment, most believe that an emphasis on deregulation, tax cutting and infrastructure spending may help forge bipartisan agreement, and keep investors encouraged. Yet time isn't entirely on Trump's side, with investors growing antsy and divisions among Congressional Republicans growing.

"Tax reform will be tough to do," Alan Simpson, a former Republican senator from Wyoming told CNBC in a recent on-air interview. He also cast doubt on the effort to reshape the national health care program, a central part of former president Barack Obama's legacy.

"A big problem for our party will be repealing Obamacare without even a vision of what to replace it with," Simpson told CNBC last month.

Currently, all eyes remain on the Trump rally that has boosted stocks to record highs. "For now, the reflation trade that began in the fall and accelerated post-election is still in place. That said investors are going to start to focus on details and timing," Russ Koesterich, a portfolio manager at BlackRock told CNBC.

"If economic reforms do not start to progress, I would expect a pickup in volatility and some reversal of recent trends," Koesterich added.

However, "Rome wasn't built in a day. The transition going on in Washington won't be over in 100 days but will likely take more time," Oppenheimer's Stoltzfus said.

And from his vantage point, managing money for Oppenheimer's global clients, Stolzfus said the firm remains "constructive on the effect the Trump Presidency might have on the U.S. economy even with the challenges it brings via dramatic change of approach and style."