Trump drama won't negatively impact the economy, yet: GOP strategist

Key Points
  • It really is a question of how long the Trump drama "really cripples" Washington, Ron Christie told CNBC.
  • If the investigation goes on — millions of dollars of investigations, year after year, then you start getting in trouble, he said.
  • Christie called FBI Director Robert Mueller a "very good pick" to lead the investigation.
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The drama surrounding President Donald Trump and the investigation into Russian interference in the U.S. election won't negatively impact the economy — at least in the short term, Republican strategist Ron Christie told CNBC on Thursday.

However, it really is a question of how long it "really cripples" Washington, the founder and CEO of Christie Strategies said in an interview with "Power Lunch."

"We have no idea how long this investigation will go on," he said. "If this goes on – millions of dollars of investigations, year after year, then you start getting in trouble."

On Wednesday, the Justice Department appointed former FBI Director Robert Mueller as a special counsel to lead the probe into Russian interference in the 2016 U.S. election. Among the things being investigated are possible links between Trump campaign associates and the Kremlin.

Christie called Mueller a "very good pick" that will give a lot of confidence to both Republicans and Democrats.

Democrat Jared Bernstein, former chief economist to Vice President Joe Biden, agrees that picking Mueller was a "smart" move. In fact, he thinks if the investigation ultimately finds nothing, "many" Democrats will probably back off.

However, while Christie is concerned about Washington being perceived globally as a dysfunctional place if the investigation drags on, Bernstein is not.

While Trump "adds a level of cray cray to the equation that is very significant," gridlock and dysfunction have been already going on for quite a while in the nation's capital, Bernstein, senior fellow at the Center on Budget and Policy Priorities, told "Power Lunch."

— CNBC's Jacob Pramuk contributed to this report.