Wall Street’s top stock strategist says there’s a hidden story to inflation—and investors could get a rude awakening

Traders work during the opening bell at the New York Stock Exchange (NYSE) on October 2, 2019 at Wall Street in New York City. (Credit: Johannes Eisele—AFP/Getty Images)

Over the past year, Americans have pinched pennies and called for higher wages as they struggle to pay their bills amid inflation not seen since the 1980s. But for corporations, it’s been a different story.

Corporate profits have routinely notched record highs, with the latest roughly $2 trillion high water mark being set by non-financial corporations in the third quarter, according to Commerce Department data released Wednesday.