Investor and television personality Kevin O’Leary said the U.S. economy is showing strength through strong corporate earnings and stock market gains, but warned that persistent inflation and high energy costs are preventing many Americans from feeling the benefits.
O’Leary Warns Inflation Still Hurts Voters On Wednesday, O’Leary said the U.S. economy is showing strength through major company earnings and market performance but argued that consumers are still feeling financial pressure.
He said, "There’s a huge disconnect between the performance of the underlying economy, whether it be small business or the S&P 500." He pointed to an "extraordinary earning season," saying, "The economy is performing on all cylinders," which he said could benefit President Donald Trump’s administration.
However, O’Leary said the economic gains have not been fully felt by households because inflation remains elevated.
"The bad news is it hasn’t translated to Main Street in any city because inflation is still persistent above 3%," he said.
