Buffett Changes Tune, Now Sees U.S. Slowing; Expects 10-Year European Recovery
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Buffett is getting more bearish on the U.S. economy, according to an interview on CNBC Thursday morning.
The "Oracle of Omaha" said the economy has slowed over the past six weeks, but added that the residential housing market has also seen gains. He notes that the U.S. is still "doing better" than virtually any other big economy globally.
He noted that the European economy also slowed "pretty fast" over the same period, though he thinks Europe will get things worked out in about ten years. The lack of clear leadership and its own "printing press" are two key elements Buffett attributed to the slowdown in Europe.
In the interview, Buffett also lauded JPMorgan's (NYSE: JPM) CEO Jamie Dimon, calling him one of the best bankers in the world.
Buffett, CEO of Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B), has been bullish in the recent past, seeing the U.S. economy on a slow march upward. He wasn't sure why things had turned around as of late.
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The "Oracle of Omaha" said the economy has slowed over the past six weeks, but added that the residential housing market has also seen gains. He notes that the U.S. is still "doing better" than virtually any other big economy globally.
He noted that the European economy also slowed "pretty fast" over the same period, though he thinks Europe will get things worked out in about ten years. The lack of clear leadership and its own "printing press" are two key elements Buffett attributed to the slowdown in Europe.
In the interview, Buffett also lauded JPMorgan's (NYSE: JPM) CEO Jamie Dimon, calling him one of the best bankers in the world.
Buffett, CEO of Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B), has been bullish in the recent past, seeing the U.S. economy on a slow march upward. He wasn't sure why things had turned around as of late.
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