While President Donald Trump’s firing of FBI Director James Comey isn’t seen hurting financial markets, the continuous controversy and political fallout from the move could stunt the White House’s pro-growth economic agenda, analysts warned CNBC.
“I think it’s still another story that’s going to slow down Trump’s agenda,” said Greg Valliere, Horizon Investments chief global strategist.
“We’re going to have a budget fight in the next few months. Nobody has any idea what the Senate is going to do on health care. You have another huge story that’s going to gobble up more time. It’s a distraction for sure,” he told CNBC.
BMO Private Bank CIO Jack Ablin said while markets shouldn’t be swayed by the Comey news, the firing could increase doubt that already exists about when Congress and the White House will actually tackle tax reform, the policy most important to investors, CNBC.com explained.
“There’s a healthy degree