Shark Tank’s Kevin O’Leary Says Much of Current Inflation ‘Temporary’: ‘I’m Going To Invest Accordingly’

Shark Tank host Kevin O’Leary said that half of the current inflation in the United States is going to be “temporary,” and that “I’m going to invest accordingly.”

On Tuesday’s edition of CNBC’s Halftime Report, O’Leary weighed in on the concerns over inflation that have roiled public opinion and become a major focus of media attention.

O’Leary said he wanted to comment on inflation “having lived through some of this myself with my private companies.”

“Half of the inflation we see today, in my belief, is temporary,” O’Leary said, and gave gym equipment as an example.

“Over time, the supply chain, as everybody knows, is broken down. So the nuts and bolts and the weights in the bars that we used to buy from Asia, we simply stop doing it because we can’t get it to the Port of Los Angeles,” he explained. “So we’ve sourced it domestically, where our costs are as much as 30 percent higher. But we’re happy to do it because we’ve kept our supply chain operational.”

O’Leary went on to say that “When we get the supply chain issue resolved and we can source from our original sources, we will bring that back to what our original costs were. And I think there’s a lot of that going on in the economy.”

“So half of this inflation is temporary and the other half is just misallocating resources like energy, not setting up to pull energy out of the ground at a time when, you know, with certainty, we still need it,” O’Leary said, and concluded by telling viewers that “No one’s that worried yet about real inflation. That’s my take on it. I’m going to invest accordingly.”

O’Leary’s comments are in line with what many economists and Biden administration officials have been saying for months about inflation being transitory in nature.

Watch above via CNBC.