What does Wall Street love about Donald Trump?
"[Wall Street] sees a cleansing of the status quo in Washington - they see a disruption of this tidal wave of regulation that's going to be rolled back," said Anthony Scaramucci at a live event held by TheStreet on Monday night in New York City.
Scaramucci is a hedge fund manager and worked on Trump's transition team.
Scaramucci said balanced regulation will boost growth.
He said Wall Street is betting on a simplification of the tax code and less regulation that will yield more profits for companies. That's why the market, he said, has rallied so much since Trump's shocking victory on November 8.
Last week, however, U.S. stock indexes saw their worst days of 2017, as investors started to worry if Trump can actually pass major parts of his agenda into law.
Read more from TheStreet's "Wall Street Goes to Washington" series
- Goldman Sachs Can't Take Over the Trump Administration: Scaramucci
- Scaramucci: Trump's Tax Reform Bill Will Get Bipartisan Support
- Anthony Scaramucci Gives Trump Administration a Grade of 'Incomplete'