On “Stocks in Translation,” Lee Munson, chief investment officer at Portfolio Wealth Advisors, offers a candid critique of Wall Street’s disconnect from Main Street. With humor, he exposes the financial elite’s myopic focus on interest rates and a possible blindspot. Munson argues that while Wall Street obsesses over cheap borrowing, everyday Americans grapple with rising costs of essential goods and services.
He shares his insights with Yahoo Finance’s Jared Blikre and Sydnee Fried on “Stocks in Translation.” Listen to the full episode here, or wherever you get your podcasts.
This post was written by Jimi Corpuz
Video Transcript
Thing on Wall Street that I think people miss, remember Wall Street is a bunch of rich guys like me, we’re concerned about interest rates because we wanna borrow cheap to go and create more capital, buy big homes in Aspen and finance our Ferraris at a low rate.
When I go and I talk to the average, you know, you know, I’m here out from New Mexico.
I’m just talking to like my Uber drivers and just dudes on the street.
They do not think about interest rates in that sense.
They’re thinking about inflation and when are these prices gonna come down?
And so when I say, oh, don’t worry, I’m a Wall Street expert, you know, inflation is coming down.
That’s not what they’re talking about.
They want the nominal prices to come down.
So I think there’s a huge disconnect when you hear these Wall Street people say, oh, the feds got cut rates, the feds got cut rates and then we look at it.
It’s like, no, I think we got to crush this growth a little bit so that we might have a chance of really killing inflation.