Politicians and regulators have prevented a supply-side solution to growth because they are focused on punishing banks, strategist Jason Trennert tells CNBC.
"There's something incongruous between adding tons of money to the monetary system and then bringing Jamie Dimon down to Washington every two or three weeks, and then wondering why there's no bank lending. Those two things do not go together," the chief investment strategist at Strategas said in an interview on CNBC's "Squawk Box."
Trennert noted that while excess reserves are at an all-time high, the velocity at which that money is entering the broader economy and supporting capital formation among U.S. business has slowed-and that's due in part to Washington "beating the heck out of banks."
"I wish a lot of politicians would stop trying to get scalps, accumulate scalps, from something that happened six or seven years. We have to look forward," Trennert said.