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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 20,645.69 94.71 0.46%
Nasdaq 5,859.16 18.79 0.32%
S&P 500 2,353.99 12.40 0.53%
Treasuries 2.38 0.01 0.46%
Data as of 11:55am ET
Company Price Change % Change
Bank of America Corp... 23.41 0.38 1.66%
Ford Motor Co 11.70 0.23 2.05%
Advanced Micro Devic... 13.63 -0.07 -0.52%
General Motors Co 35.92 1.21 3.49%
Chesapeake Energy Co... 5.29 0.13 2.52%
Data as of 11:40am ET
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