Barry Knapp: I Cut Tech. Here's Why.

AI has been the market's biggest winner—but Barry Knapp believes the trade is entering a new phase.

In this conversation with Maggie Lake, Barry Knapp, Founder and Managing Partner of Ironsides Macroeconomics, explains why he's reduced his exposure to technology stocks, why the pace of AI capital spending is likely to slow, and where he's positioning instead.

The discussion also explores why the Federal Reserve's 2% inflation target was a mistake, what a Kevin Warsh-led Fed could mean for markets, why inflation is likely to stabilize around 2.5%, and why fiscal policy—not monetary policy—may be the biggest long-term risk facing investors.

In this interview:
• Why Barry is underweight technology stocks
• Is the AI investment boom entering a new phase?
• The Fed's biggest policy mistake
• Kevin Warsh and the future of monetary policy
• Why inflation may stabilize around 2.5%
• Where Barry sees the biggest investment opportunities today
• Why he believes a 10% market pullback is possible
• The long-term risks of U.S. fiscal policy

💡 Barry Knapp is repositioning his portfolio for what's next. Want a second opinion on your own portfolio? Get a free review with one of Wealthion's trusted fiduciary financial advisors: https://wealthion.com/free

Chapters:
00:00 Cold Open
00:39 Introduction: Barry Knapp of Ironsides Macroeconomics
00:50 Why the U.S. Economy Is Still K-Shaped
04:20 Kevin Warsh's Plan for the Federal Reserve
09:02 Treasury Yields, Bonds & Fed Balance Sheet Risks
13:08 Can Kevin Warsh Restore Confidence in the Fed?
17:08 Why the Fed's 2% Inflation Target Was a Mistake
18:42 Why Inflation Will Likely Settle Around 2.5%
23:37 The Real U.S. Debt & Deficit Problem
28:19 Tech Stocks, AI & Why Barry Knapp Cut Exposure
31:12 Where Barry Knapp Is Investing Instead
33:02 Why a 10% Market Correction Is Possible
33:47 Biggest Blind Spots for Investors Today
35:59 Final Thoughts

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