Long hibernating price inflation is taking center stage in America's economy, in part because President Trumps' anti-migrant policies are fueling already rising wages, a top Wall Street asset strategist said on Monday. Richard Bernstein, a celebrated asset allocator who oversees $3.1 billion at investment firm Richard Bernstein Advisors LLC, also told the Reuters Global Markets Forum that U.S. corporate profits reflected economic growth, that equities will outperform fixed income assets in 2017, and that few investors are prepared for a migration from deflation (global deflation ending).