[an error occurred while processing this directive]

Buffett: No double-dip recession

By CNNMoney.com staff


NEW YORK (CNNMoney.com) -- Warren Buffett expressed his confidence in the U.S. economy and ruled out the possibility of a double-dip recession, according to a published report.

"I'm a huge bull on this country," said the Omaha, Neb.-based billionaire investor and philanthropist, speaking via video connection to the Montana Economic Development Summit, according to Bloomberg News.

"We will not have a double-dip recession at all," he said. "I see business coming back almost across the board."

Buffett told the assembly that American banks had become more open to lending again and he encouraged entrepreneurs to seek financing.

"It's night and day from a year, year and a half ago," he said, according to the Bloomberg report. "I know Wells Fargo, they would love to have $50 billion more of loans now. Go in and talk to the banker."

Buffett's investment company Berkshire Hathaway Inc. (BRK.A) has a multi-billion dollar stake in Wells Fargo (WFC, Fortune 500). To top of page

Index Last Change % Change
Dow 24,962.48 164.70 0.66%
Nasdaq 7,210.09 -8.14 -0.11%
S&P 500 2,703.96 2.63 0.10%
Treasuries 2.92 -0.03 -0.88%
Data as of 7:39pm ET
Company Price Change % Change
Chesapeake Energy Co... 3.20 0.57 21.67%
General Electric Co 14.62 0.13 0.90%
Bank of America Corp... 31.69 -0.18 -0.56%
Advanced Micro Devic... 11.84 0.12 1.02%
Apple Inc 172.50 1.43 0.84%
Data as of 4:15pm ET
Sponsors

Sections
[an error occurred while processing this directive]