Mario Gabelli is bracing for a 2nd-half recession, more banking fallout, and pressure on stocks and house prices. The billionaire investor told us why.

• Mario Gabelli expects a second-half recession and pressure on stocks and house prices.
• The billionaire investor says the banking fiasco could deter lending and cause other problems.
• Gabelli expects the Fed to continue raising interest rates in order to crush inflation.

US investors may face a recession later this year, pressure on stocks and house prices, and further fallout from the banking fiasco, Mario Gabelli told Insider in an interview on Tuesday.

"I see an economic slowdown in the second half of 2023, probably a recession," the billionaire investor and Gabelli Funds chief said.