Richard Bernstein, chief executive officer and chief investment officer of Richard Bernstein Advisors, appeared on CNBC on Tuesday to talk about why U.S. markets are having trouble with pro-inflation policies.

In the segment, Bernstein was featured alongside Real Money contributor Stephen Guilfoyleand and Bianco Research president James Bianco.

“If you look at fundamentals around the world, there is no question the U.S. economy is the shining star,” Bernstein said. “That’s been really true off and on for quite some time.”

However, Bernstein described U.S. markets as facing a “forest and trees type issue.”

“Everyone is focused on trade and they are missing the much bigger issue of what’s going on,” he said. “You look over the last 3 or 4 months, almost every sizable selloff that we’ve had has come from pro-inflation policy coming from Washington – that’s what people are missing here.”

Click below to watch the full segment featuring Bernstein (skip ahead to 2:40 in the video):

Richard Bernstein Advisors is a participant in the ETF Strategist Channel.