Kevin O'Leary Says Wall Street Is Booming While Main Street Still Feels Inflation's Pain

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.

O’Leary Says Gas Prices Could Shape 2026 Election O’Leary added that energy prices remain a major concern for voters across the political spectrum. "The number one input cost for every voter everywhere, every state, red or blue, is energy.

It’s gasoline," he said.

He argued that lowering oil prices below $70 per barrel before November could play an important role in shaping voter opinions and potentially affecting control of Congress ahead of the midterms.

There’s a huge disconnect between the performance of the underlying economy, whether it be small business or the S&P 500.

We're having one of the most extraordinary earning seasons I've seen in recent history.

The economy is performing on all cylinders, and that's the good news… pic.twitter.com/wvdgY1zjEB — Kevin O'Leary aka Mr.

Wonderful (@kevinolearytv) August 5, 2026 Read Also: Trump Predicts 2026 GOP Triumph: 'We Should Win the Midterm Elections in RECORD NUMBERS' Trump Faces Inflation Criticism Last week, Economist Peter Schiff pointed to a July AP-NORC poll showing Trump’s approval rating at 33%, saying the results reflected voter concerns over affordability rather than a strong economy.

He noted that approval of Trump’s handling of the Iran conflict had also declined.

Sen.

Bernie Sanders (I-Vt.) criticized Trump’s spending priorities, arguing that proposed cuts to social programs and tax benefits for wealthy Americans would hurt working-class households.

He accused the administration of favoring billionaires over ordinary Americans.

Earlier, Sen.

Elizabeth Warren (D-Mass.) also blamed Trump’s tariffs for contributing to higher costs across food, housing, gasoline and health care.

House Minority Leader Hakeem Jeffries (D-N.Y.) and Gov.

JB Pritzker (D-Ill.) criticized the administration over inflation and affordability issues.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.

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