When Buffett speaks, people listen
Warren Buffett, in an interview this morning on CNBC, said the global economy is slowing but that the U.S. economy is “inching ahead,” according to a Reutersreport of the interview.
Buffett, who said he believes that the U.S. economy’s turnaround is contingent on the health of the housing market, noted that housing-related businesses are growing at double-digit percentage rates.
The Omaha billionaire also said the best thing for the economy would be for Federal Reserve Chairman Ben Bernanke to stay on for a third term. There has been speculation that Mitt Romney, if elected, would replace Bernanke.
Buffett, who has often praised Bernanke, nevertheless said he worries that quantitative easing may no longer be the right strategy, according to a Wall Street Journal summary of the interview.
“I get a little worried about continuously expanding” the Fed’s balance sheet, he said.
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