In a high-energy episode of CNN NewsNight, investor and television personality Kevin O’Leary defended the strength of the U.S. economy under former President Donald Trump, challenging claims made by other panelists about job losses and global perceptions.
The discussion grew tense after podcaster Kmele Foster criticized Trump’s economic policies, particularly tariffs. While Foster claimed the policies had led to negative economic consequences, O’Leary disputed the assertion and cited recent economic data.
O’Leary pointed to a May report by The Conference Board showing a 12.3-point increase in consumer confidence, ending a five-month streak of declines. He also noted job gains in April, with the Bureau of Labor Statistics reporting the addition of 177,000 jobs that month. The unemployment rate stood at 4.2%, which economists generally associate with near-full employment in a dynamic labor market.
“You can say that, but you better read the numbers,” O’Leary told Foster, emphasizing that broader indicators reflect a resilient economy.
Shermichael Singleton echoed O’Leary’s sentiment, urging a closer look at unemployment figures. Though Foster maintained that some sectors were struggling, O’Leary continued to stress the overall health of the job market.
The conversation then shifted to global perceptions of the U.S., where former reality star Jennifer Welch argued that Trump had caused “brand damage” to the country’s image. Welch cited international skepticism toward Trump’s leadership, particularly in Europe and Asia.
O’Leary pushed back by focusing on foreign direct investment trends. “The number one destination for invested capital on earth is still over 50% in America tonight,” he said. “The money pours in… Why? Best place to invest on earth.”
While opinions on America’s global reputation varied on the panel, O’Leary remained adamant that financial markets reflect confidence in the U.S. economy. “That’s not what the numbers say,” he said in response to Welch’s assertion. “Trillions of dollars come to America. Why? The economy is strong.”
The discussion illuminated a key divide between O’Leary’s data-driven viewpoint and other panelists’ focus on perception, branding, and sector-specific challenges.
Fact Check: Verified Claims in This Discussion
Claim 1: “Consumer confidence rose by 12.3 points in May.”
✔️ True. The Conference Board reported a notable rise in consumer confidence, indicating improved sentiment among U.S. consumers.
Claim 2: “177,000 jobs were added in April.”
✔️ True. According to the U.S. Bureau of Labor Statistics, this figure accurately reflects job gains for the month.
Claim 3: “The unemployment rate was 4.2% in April.”
✔️ True. This is consistent with official BLS data and suggests a healthy labor market overall.
Claim 4: “The U.S. is the top destination for global investment.”
✔️ Largely true. While precise figures vary, the U.S. consistently ranks as the world’s leading recipient of foreign direct investment, capturing a significant share of global capital.
Claim 5: “Trump has caused brand damage to the U.S.”
🟡 Opinion. While some international polls indicate unfavorable views of Trump, the claim is subjective and not directly tied to quantifiable economic harm.
