Trump woes will delay agenda by 6 to 12 months, if he's lucky, strategist Mark Grant says
- President Trump's agenda is likely to be delayed six to 12 months and will be a deterrent for the markets, strategist Mark Grant says.
- The delays will affect the markets, he says.
Delays with President Donald Trump's business-friendly proposals will impact the markets, closely followed strategist Mark Grant told CNBC on Monday.
"A lot of the buildup has been in expectation that the tax cuts, the cutting of regulations and something with health care was going to happen, and I see it being pushed out another six to 12 months if it happens at all," said Hilltop Securities' chief strategist, who predicted the postelection rally.postelection rally.
"I think that's a deterrent for the overall markets," Grant added in an interview on "Squawk Box."
Grant said Trump is being met with resistance by Democrat and Republican lawmakers because of the president's attempts for a "new order" in Washington.
"I think we've got insider Democrats and insider Republicans, lobbyists, economists, attorneys, whoever you can think of that are pushing back against the guy because he wants to drain the swamp," Grant said.
U.S. stock index futures were flat Monday, as investors looked to the U.S. political sphere for cues on how to trade. Stocks fell last week as investors worried whether Trump's comments about a white nationalist rally in Charlottesville, Virginia, would make it less likely for Congress to work with him.
Trump is expected to lay out his long-awaited strategy for the war in Afghanistan on Monday night in an address to the American people.
Grant also said the central banks could be responsible for moving equities higher and keeping bond yields lower through increasing their assets.
"The central banks are now at $19 trillion in assets. That's basically the size of the U.S. economy," he said. "The central banks have virtually created another country."
Regarding earnings, Grant said they'll continue to be good. He added the U.S. dollar and a "relatively good" economy are helping.
On the morning of Election Day, Grant correctly predicted that the stock market would rally in the event of a surprise Donald Trump victory.