President Donald Trump's potential appointees to the Federal Reserve may not be as open to future rate hikes as current members, strategist Mark Grant said on Tuesday.



In an interview on "Squawk Box," the Hilltop Securities chief strategist said the Fed of tomorrow will not be the Fed of today.

"Mr. Trump will appoint at least three people we know of to the Fed and maybe more. I think we'll see a very different Fed. And I just don't see the desire by the new members of the Fed to hike interest rates, stop lending, cause major problems for commercial real estate, residential real estate," Grant said.

Market expectations for a rate hike in March were around 93 percent Tuesday, according to the CME Group's FedWatch tool. The CNBC Fed Survey found 100 percent certainty among its 50 respondents. The Fed's monetary policy committee meets Tuesday and Wednesday.

The Fed is expected to hike interest rates at least three times this year.

During his campaign, Trump said Federal Reserve Chair Janet Yellen was keeping interest rates low because of political pressure from the Obama administration.

Yellen has told Congress she plans to complete her term as chair. It expires in January. Her 14-year term expires in 2024.



--Reuters contributed to this report.