The Shark Tank star is telling investors to wait 90 days to see what happens to smaller banks in the United States.
from a year ago in June — the lowest level since March 2021. But Powell said the Fed would need to "hold policy at a restrictive level for some time" and be prepared to raise rates further, given that core inflation is still above 3% — higher than its 2% annual target.
"You keep squeezing the toothpaste tube, you keep rolling it up, you keep raising rates, and you know things are going to break, you just don't know when and where," O'Leary, who runs his own early-stage venture capital firm, O'Leary Ventures, told"I am just predicting — and I am very cautious on this — it will break down in the regional banks, which supports 60% of the economy," he said, adding that the rapid rise in the cost of capital is "killing them on...
"You keep squeezing the toothpaste tube, you keep rolling it up, you keep raising rates, and you know things are going to break, you just don't know when and where," Kevin O'Leary said.
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