Kevin O'Leary told CNBC on Tuesday that he does not want to see another interest rate cut from the Fed in September.
O'Leary, who's also chairman of O'Shares ETFs, pointed out positive cash flow of private companies in the U.S. and said, "I've never seen a stronger economy domestically right now."that current consumer spending and domestic companies are proof of a strong economy and no imminent recession.between two largest economies in the world, the "Shark Tank" star believes that the U.S. economy is on the rise.
O'Leary explained that "the reason the market is so resilient, and this is just a personal thesis, is there's probably going to be, in the next three or four years, a bilateral U.S.-China trade deal. I'm not saying saying it's going to happen tomorrow. It's going to take awhile but it is so valuable."clients about elevated global recession risks after increased trade tensions.
In response, O'Leary said, "I think they look at history and say we're so long in the cycle and we haven't seen any hit at all. I would caution everyone if you really want to look at indicators that are very early, look at the [spreads] on junk debt. ... You don't see any of that right now."He also remained bullish on equities. O'Leary even added that there is a potential to get a "2.
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