[an error occurred while processing this directive] [an error occurred while processing this directive]

Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

U.S. + International

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 18,244.02 98.31 0.54%
Nasdaq 5,302.56 45.16 0.86%
S&P 500 2,152.74 11.58 0.54%
Treasuries 1.75 0.01 0.52%
Data as of 10:06am ET
Company Price Change % Change
AT&T Inc 37.03 -0.46 -1.23%
Time Warner Inc 87.06 -2.42 -2.70%
Bank of America Corp... 16.74 0.07 0.42%
Microsoft Corp 60.41 0.75 1.25%
Chesapeake Energy Co... 6.71 0.03 0.45%
Data as of 9:51am ET


The combo brings together AT&T's wireless and Internet business and DirecTV with Time Warner programming, including CNN, HBO and Warner Bros. More

Passes for the new National Museum of African-American History and Culture in Washington D.C. are 'sold out' through March 2017. More

People lie when the truth is problematic. Scientists offer an inside look on what happens in the brain during that process. More

The University of Illinois partnered with Coursera to launch one of the most affordable online MBA programs yet. More