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        <title itemprop="name">If hurricane damage is 'severe enough,' Fed may lower rates, says Mark Grant</title>
        
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    <div class="story-top"><div  class="story-header-left twoCol"><h1 class="title" itemprop="name" >If hurricane damage is &#039;severe enough,&#039; the Fed could actually lower rates, says strategist Mark Grant</h1><div id="article_deck" class="content"> 
	
	



																
																	
			
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																		<ul> <li class="">At the very least, the Fed is going to be forced to put any further interest rates this year on hold due to the costs of hurricanes Irma and Harvey, says Mark Grant.</li> <li>The <span>closely watched contrarian says </span><span>the federal government as well as state and local governments in Florida and Texas will be under pressure.</span></li> <li><span> Kevin O'Leary, chairman of O'Shares and a "Shark Tank" investor, agrees with Grant concerning the storm aftermath's possible impact on the Fed's rate policy. </span></li> </ul>
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	    									<a itemprop="url" rel="author" href="/matthew-j-belvedere/">Matthew J. Belvedere</a>													| <span class="twitter-url"><a href="//twitter.com/Matt_Belvedere">@Matt_Belvedere</a></span>
																
					
							 
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	<time class="datestamp"  itemprop="datePublished" datetime="2017-09-11T07:19:44-0400">	  
		Published  7:19  AM ET Mon, 11 Sept 2017
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			<time class="datestamp last-pub-date"  itemprop="dateModified" datetime="2017-09-11T09:48:47-0400">
			Updated   9:48  AM ET Mon, 11 Sept 2017
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                    <a href='/video/2017/09/11/fed-may-even-lower-rates-after-massive-storms-hilltop-securities-mark-grant.html' data-VideoID='3000653128' data-VideoType='' class=''  >
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            Fed may even lower rates after massive storms: Hilltop Securities&#039; Mark Grant<span class=" cnbc-font-icon icon-cnbc-video">&nbsp;</span>&nbsp;&nbsp;
			                        <time> 7:13  AM ET Mon, 11 Sept 2017 |  03:33</time>	</div>
					
					

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																		<p>When the federal, state and local governments in Florida and Texas total the bills from hurricanes Irma and Harvey, the <a href="/id/43752521">Federal Reserve</a> is going to be forced to put any further interest rates this year on hold, closely watched contrarian strategist Mark Grant told CNBC on Monday.</p>
															
																													
					
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												    														<p>"With the cost of Harvey and now the cost of Irma, I think there's going to be a market reaction," said the chief strategist at Hilltop Securities, arguing government officials will be under intense pressure because of the cost of emergency and recovery services. "I think the Fed is going to stop, meaning the Fed is not going to call for any more rate hikes now."</p>
															
																										    														<p>In fact, Grant said on <a href="/squawk-box-us/">"Squawk Box,"</a> if the storm damage is "severe enough," the central bank may lower rates, so governments can get access to cheaper borrowing costs for the rebuilding efforts. Perhaps, that's why U.S. stock futures were up more than 100 points in Monday's premarket trading.</p>
															
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																			    														<p>Goldman Sachs said Hurricane Harvey, which deluged Houston with days of torrential rain and flooding last month, is expected to be one of the costliest disasters in postwar U.S. history, and its aftermath is likely to be a <a href="/2017/09/10/hurricane-harvey-probably-shaved-1-percent-from-third-quarter-growth-goldman-sachs-says.html">drag on third-quarter economic growth by a full percentage point</a>.</p>
															
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            Kevin O&#039;Leary: I&#039;m having a hard time taking money out of stocks<span class=" cnbc-font-icon icon-cnbc-video">&nbsp;</span>&nbsp;&nbsp;
			                        <time> 8:50  AM ET Mon, 11 Sept 2017 |  00:32</time>	</div>
					
					

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																		<p>Kevin O'Leary, chairman of O'Shares EFT Investments and an investor on "Shark Tank," agreed with Grant concerning the storm aftermath's possible impact on the Fed's rate policy.</p>
															
																										    														<p>"Why in the world would they want to put any resistance into the recovery, which is what a rate hike is," O'Leary told "Squawk Box" in a later interview on Monday. "I'm having a very hard time taking money out of stocks right now ... particularly when you start to think about the Fed not raising rates as a result of what's happened in the economy."</p>
															
																										    														<p>"I'd say there's a 50-50 chance we will not get another rate hike this year. If that's the case, you're going to love small- and mid- and large-cap stocks," he said.</p>
															
																										    														<p>Meanwhile, Hilltop's Grant said power outages were preventing him from sending out his daily market commentary, which he said goes to about 5,000 institutions in 48 countries.</p>
															
																										    														<p>Like many Florida residents, Grant evacuated Fort Lauderdale, along the state's eastern shore about 34 miles north of Miami. He said he went north and inland to Ocala. "It's normally about a 3½ hour trip from Fort Lauderdale to Ocala, where I am now in midstate. It took eight hours to get here with my three dogs."</p>
															
																										    														<p>At the rest areas along the highways, he said, "There were 600, 700, 800 cars trying to get in" for gas and food. "It was a pretty horrendous experience."</p>
															
																										    														<p>Grant does not expect to get back into his Fort Lauderdale house anytime soon. "There's no power in the whole neighborhood around it. I've been informed I can't get to my house, even if I wanted to try to get there, because the streets are four and five feet flooded."</p>
															
																										    														<p>I'm stuck," he said.</p>
															
																										    														<p>Hurricane Irma continued to hammer Florida early Monday, but the storm was losing strength. Once ranked as one of the most powerful hurricanes recorded in the Atlantic, Irma was about 60 miles north of Tampa, with carrying maximum sustained winds of 75 mph.</p>
															
																										    														<p>Irma knocked out power to nearly 4 million homes and businesses when it made landfall on Sunday, threatening millions more as it crept up the state's west coast.</p>
															
																										    														<p>Georgia could be Irma's next target, hitting the southwestern part of that state by Monday afternoon. It could dump up to 20 inches of rain, according to the National Weather Service.<br /><br /><em>— CNBC's Berkeley Lovelace and Reuters contributed to this report.<br /><br /> Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank." <br /></em></p>
															
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</div>
					 

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	wl360ResourceBundleUrl: 'https://register.cnbc.com/svc/api/message',
	wl360ResourceBundleAppKey: 'common_messages',
	wl360ServiceTimeout: 9000,
	wl360QuoteApiUrl: 'https://quote.cnbc.com/quote-html-webservice/',
	wl360EnableAddToWatchlist: '1',
	wl360PartnerId: 14,
	surf_key : 'cnbc',
	mobileQuotePageRefreshInterval: '900',
	mobileQuoteBlurRefreshInterval: '0',
	regionConfig: {"USA":{"edition":"USA","nid":"100746233","link":"/","name":"U.S. Edition", "msgName":"U.S.","mobileMsgName":"U.S.","mobileAlternate":"WORLD", "menuName":"U.S."},"WORLD":{"edition":"WORLD","nid":"100746255","link":"/id/100746255","name":"INTL Edition","msgName":"new international","mobileMsgName":"International","mobileAlternate":"USA", "menuName":"INTL"}},
	searchPartnerId: '2000',	
	chartbeat_service : '102527204',
	chartbeat_service_data : '',
	chartbeat_refresh_interval : '300',
	webQuotePageRefreshInterval: '600',
	webQuoteBlurRefreshInterval: '60',
	surf_on : 'on',
	templateName: 'story_simple',
	isNative: '',
	productName: 'web'
		,dockPlayer: '1'
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			,pageNodeId: 104701900  // this property added for consistancy with Desktop, `nodeId` is depricated and must be retired
			,nodeType: 'cnbcnewsstory'
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		  title: 'The Fed'
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				,homepageTrackingConfig:{header:true, footer:true, lead:true, secondaryLead:true, view:true, topicTown:true, dontMiss:true, marketData:true, madMoney:true, futuresNow:true, mostPopular:true, currencies:true, market:true, tradingNation:true}
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            /* JSInits */

            
                    
    

            

						

            			     		

                          
            
                window.cnbc = window.cnbc || {};
window.cnbc.pageModules = (window.cnbc.pageModules || []).concat([
	    {
	moduleId : 'xfinityExperienceSurf',
	initOn : 'load'
}
    ,	    {
	  'moduleId' : 'socialBar',
	  'initOn' : 'load',
	  'initData' : {
	  	templateName : 'story_simple',
	  	gigya_api_key : '2_Jx5rsFp18pauXYlKGzHQVpbahcR1iJ30bbyfqZsn69A6vbt3dQ7gYFCESWKMM1sP',
			socialBarTitle : 'Here\'s why Irma and Harvey may force the Fed to cut, according to startegist Mark Grant',
			containerID: 'social-tools-panel',
			pos : 'bottom',
		}
	}
    ,	    {
	moduleId : 'scrollPanel',
	initOn : 'load',
	initData : {
 		container: 'social-tools-panel' // element that will contain tabs. value can be a string (must be an element's ID), a DOM element or jQuery object -- Required
 		,transTime:50
		,respectiveContainer: true
		,hideIndex: true
	}
}
    ,	    {
	  'moduleId' : 'socialBar',
	  'initOn' : 'load',
	  'initData' : {
	  	templateName : 'story_simple',
	  	gigya_api_key : '2_Jx5rsFp18pauXYlKGzHQVpbahcR1iJ30bbyfqZsn69A6vbt3dQ7gYFCESWKMM1sP',
			socialBarTitle : 'Here\'s why Irma and Harvey may force the Fed to cut, according to startegist Mark Grant',
			containerID: 'social_bar_top',
			pos : 'top',
		}
	}
    ,	    {
	moduleId : 'tableSorter',
	initOn : 'view',
	moduleDomSelector : 'table.csvData, article table.quoteTable'
}
    ,	    {
		moduleId : 'Polls',
		initOn : 'load'
	}
    ,	    {
	moduleId : 'TaboolaRecirculationModule',
	
		initOn : 'load',
	
	initData : {
		
			taboola_url : '//cdn.taboola.com/libtrc/cnbc/loader.js'
		
		,taboolaParam: ''
	}
}
    ,	    {
	moduleId : 'TwitterPlatform',
	
		initOn : 'view',
		moduleDomSelector : '.twitter-timeline, .twitter-tweet'
	
}
    ,	    {
		moduleId : 'chartbeatMostPopular',
		initOn : 'view',
		moduleDomSelector : '#chartbeatWidget_102535788',
		initData : {
			refreshInterval : 300,
			chartbeatUrl : '//www.cnbc.com/id/102535788/services/mostpopular',
			containerId: 'chartbeatWidget_102535788'	,
			templateName: 'story_simple'		
		}
	}
    ,	    {
      moduleId : 'englargedImage',
      initOn : 'load',
      initData : {
      }
    }
    ,	    {
		moduleId: 'desktopVideoPlayer',
		
				initOn: 'load',
		
		moduleDomSelector: 'div.cnbcvideo.featuredPromo',
		initData: {
			playerId: 'player'
			,baseFeed: '//feed.theplatform.com/f/gZWlPC/CNBC_prod_global'
			,defaultVideoId: ''
			,relativeVideos: false
			,premiumUser : ''
			,premiumContent : ''
			,proTabData: '0'
			,premiumFeedUrl: '//www.cnbc.com/id/46/services/premium/video/data?token='
			,errorMsgContainerHTML: '<div class="player-error-placeholder"><div class="error-msg"><p>YOUR BROWSER IS NOT SUPPORTED.</p><p><a href="//www.cnbc.com/id/101957793" target="_blank">Please upgrade to watch video.</a></p></div></div>'
			,videoErrorMsgContainerHTML: '<div class="player-error-placeholder"><div class="error-msg"><p>The requested video is unable to play.</p><p>The video does not exist in the system.</p></div></div>'
			,marketingPageURL: 'https://www.cnbc.com/application/pro'
			,adblockErrorMsgContainerHTML: '<div class="player-error-placeholder"><div class="error-msg"><p>We’re not able to play this video if an ad blocker is enabled.</p><p>Please disable your ad blocker on CNBC and reload the page to start the video.</p></div></div>'
			,product: 'inlineDesktop'
			,mutedAutoplay: false
		}
	}
    ,	    {
			moduleId : 'tinypassConfig',
			initOn : 'load',
			initData : {
				    "config": {       "aid": "o19WonOrHQ",       "rid": "PRO",       "endpoint": "https://buy.tinypass.com/api/v3",       "trackPages": true,       "debug" : false,       "signUpPage": "/pro-login-page"    },
       			"product": "web",
       			"templateName": "story_simple",
       			"containerSelector": "articlePayload",
       			"contentSection": "The Fed",
       			"contentAuthor": "Matthew J. Belvedere",
       			"contentCreated": "2017-09-11T07:19:44-0400"
				}
		}
    ,	    {
	moduleId : 'signin',
	initOn : 'load',
	initData : {
		source : 'default',
		flow : 'header'
	}
}
    ,	    {
            		moduleId : 'pageVideoMetaData',
            		initOn : 'load'
            	}
    ,	    {
        
            moduleId : 'internationalization',
        
        
            initOn : 'load',
           
        initData : {
            config    : {"USA":{"edition":"USA","nid":"100746233","link":"/","name":"U.S. Edition", "msgName":"U.S.","mobileMsgName":"U.S.","mobileAlternate":"WORLD", "menuName":"U.S."},"WORLD":{"edition":"WORLD","nid":"100746255","link":"/id/100746255","name":"INTL Edition","msgName":"new international","mobileMsgName":"International","mobileAlternate":"USA", "menuName":"INTL"}}
            
        }
    }
    ,	    {
	  moduleId : 'symbolLookup',
	  initOn : 'focus mouseover',
	  moduleDomSelector : '.symbol-search input'
	}
    ,	    {
		moduleId : 'navigation',
		initOn : 'load'
	}
    ,	    {
	moduleId : 'footerdefault',
	initOn : 'view',
	moduleDomSelector : '#cnbc-footer-responsive'
}
    ,	    {
			moduleId : 'quoteStreaming',
			initOn : 'load',
			initData : {
				showInlineQuotes : false,
				showTableChart : true,
				showFutureChart : false,
				showTickerChart : false,
				showTickerNG : false,
				showTableChartNG : false,
				chartApiUrl : '//api-chart.cnbc.com/api/chart/chart.asp',
				quoteService : '//quote.cnbc.com/quote-html-webservice/quote.htm',
				quoteServiceParams : 'requestMethod=quick&exthrs=1&noform=1&fund=1&output=jsonp&symbols=',
				partnerId : 2,
				quoteUrl : '//quote.cnbc.com/quote-html-webservice/quote.htm' + '?partnerId=' + 2 + '&' + 'requestMethod=quick&exthrs=1&noform=1&fund=1&output=jsonp&symbols=',
				futureQuoteUrl : '//quote.cnbc.com/quote-html-webservice/fvquote.htm',
				futureQuoteParams : 'requestMethod=quick&noform=1&realtime=0&client=fairValue&output=jsonp&symbols=',
				futureUrl :  '//quote.cnbc.com/quote-html-webservice/fvquote.htm' + '?' + 'requestMethod=quick&noform=1&realtime=0&client=fairValue&output=jsonp&symbols=',
				settings : {
					streaming : true,
					streamingInterval : 10000
				}
			}
		}
    ,	    {
	moduleId : 'tabletFriendlyTouch',
	initOn : 'load'
}
    ,	    {
	  'moduleId' : 'lazyLoadFunctions',
      'initOn' : 'load'
	}
    ,	    {
                	moduleId : 'alerts',
                	initOn : 'load',
                	initData : {
                		alertInterval : 30,
						playerurl : '/watch-live-universal?forceStreamAkamai=true&premium=1&popout=true&autoplay=true&',
                        isMobile : false
					}
                }
    ,	    {
				moduleId : 'proAccountNotification',
				initOn : 'load'
			}
    ,	    {
    	moduleId : 'persistentSiteHeader',
    	initOn : 'load',
    	initData : {
    		product : 'web',
    		products : {
    			web : 'web',
    			mobile : 'mobile-touch'
    		}
    	}
    }
    ,	    {
	moduleId : 'lazyloadFragment',
	initOn : 'load'	
}
    ,	    {
	moduleId : 'lazyImageLoader',
	initOn : 'load'
}
    	]);
            

            </script>
        
		  <script id="javascript-lazy-loader" data-loader-url="https://js.cnbcfm.com/minify/js" type="text/javascript" src="https://js.cnbcfm.com/minify/js?modules=core&vn=520"></script>
		

        <!--  Scripts from the skin -->
                    							    		    			    				    				
					    						    					      			       		    				
					    						    					      			       		    				
					    						    					      			       		    				
					    						    					      			       		    				
					    						    					      			       		    				
					    						    					      			       		    				
					    						    					      			       		    				
					    						    					      			       		       		    		    			    				    				
					    						    					      			       		       		    				
                <!-- End of Scripts from the skin -->

        <!-- Global insert_cmsfooter -->
        <!-- MPS Global Footer Insert BEGIN -->
<!-- Start BounceX Tag -->
        <script>
        (function(d) {
            var e = d.createElement('script');
            e.src = d.location.protocol + '//bounceexchange.com/tag/1021/i.js';
            e.async = true;
            d.getElementsByTagName("head")[0].appendChild(e);
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<!-- Quantcast Tag -->
<script type="text/javascript">
$(document).ready(function(){
  mps._queue.mpsloaded.push(function(){
    mps._log('**** LOADED: Quantcast - cnbc-global-footer-insert');
    if (window.mps) {
        var _qevents = _qevents || [];

        function nbcQuantcast() {
        var lb = "CNBC";
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        var scpt = document.getElementsByTagName('script')[0];
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        _qevents.push({
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            labels: nbcQuantcast()
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</script>

<noscript>
<div style="display:none;">
<img src="//pixel.quantserve.com/pixel/p-9eJ8k4iSzux46.gif" border="0" height="1" width="1" alt="Quantcast"/>
</div>
</noscript>
<!-- End Quantcast tag -->
<!-- START Parse.ly Include: DOM-Free -->
<script>
(function(d) {
  var site = CNBC_Settings.baseurls.cnbc_base_host||"cnbc.com", // replace with the domain of your site (e.g. parsely.com)
      b = d.body,
      e = d.createElement("div");
  e.innerHTML = '<span id="parsely-cfg" data-parsely-site="'+site+'"></span>';
  e.id = "parsely-root";
  e.style.display = "none";
  b.appendChild(e);
})(document);
(function(s, p, d) {
  var h=d.location.protocol, i=p+"-"+s,
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      u=h==="https:"?"d1z2jf7jlzjs58.cloudfront.net"
      :"static."+p+".com";
  if (e) return;
  e = d.createElement(s); e.id = i; e.async = true;
  e.src = h+"//"+u+"/p.js"; r.appendChild(e);
})("script", "parsely", document);
</script>
<script src="https://fm.cnbc.com/applications/cnbc.com/resources/files/2017/12/07/parsely_data_4.js"></script>
<!-- END Parse.ly Include: DOM-Free -->

<!-- AB Admiral BEGIN -->
<script id="ab-admiral">(function(a,b,c,d,e){e=a.createElement(b);a=a.getElementsByTagName(b)[0];e.async=1;e.src=c;a.parentNode.insertBefore(e,a)})(document,'script','//nervoussummer.com/40cad7fabed6c884e79a4e286d192a42212f95b4a2dcfe41771324064f6510a6d465b805e1308a6de2f29b32fce73dffe3ba2710980cb2e99b39d282fc0917');</script>
<!-- AB Admiral END -->

<!-- MPS Global Footer Insert END -->
        <!-- MPS ASYNC Application Component - Desktop Insert FOOTER BEGIN -->
<script type="text/javascript">
$(document).ready(function(){
  mps._queue.mpsloaded.push(function(){
    mps._log('**** LOADED: cnbc-cms-footer-insert');
      //<!-- begin FRANCHISE ONLY Ad Refresh -->
      if (mps.pagevars.type == 'franchise' && mps.pagevars.hline != "US Homepage" && mps.pagevars.hline != "International Homepage") {
          if (mps._detect) mpsopts.activerefresh = 1;
          if (mps.pagevars.cats.indexOf('markets') != -1) {
              mps.refreshAdsInterval(120, ['topbanner', 'topflex']);
              window.console && console.log('--[executed]--> MPS Set Ad Refresh (120s)');
          } else {
              mps.refreshAdsInterval(60, ['topbanner', 'topflex']);
              window.console && console.log('--[executed]--> MPS Set Ad Refresh (60s)');
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      //<!-- end FRANCHISE ONLY Ad Refresh -->
      (function() {
          if ('mps' in window && mps.pagevars && CNBC_Settings.templateName == 'slideshow_one_page') {
              setInterval(function() {
                  mps.refreshAds('topflex');
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      //<!-- Global Web Index: BEGIN -->
      (function() {
          var js = document.createElement('script');
          js.src = '//gwiqcdn.globalwebindex.net/gwiq/gwiq.js';
          js.type = 'text/javascript';
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              var rs = this.readyState;
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          var s = document.getElementsByTagName('script')[0];
          s.parentNode.insertBefore(js, s);
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  });
});
</script>
<!-- Global Web Index: END -->
<!-- Sharethrough Load: BEGIN -->
<script type="text/javascript" async defer src="//native.sharethrough.com/assets/sfp.js"></script>
<!-- Sharethrough Load: END -->
<!-- MPS ASYNC Application Component - Desktop Insert FOOTER END -->
        <!-- End Global insert_cmsfooter -->

        <!-- Wires Redirect Popup -->
        

        <!-- End Wires Redirect Popup -->
        

    </body>
</html>
