Buffett Says Economy on Recovery Path

2009-08-20 01:11:22 (GMT) (WiredPRNews.com - Business, News)

Warren Buffett, shown here in 2005, expresses his views on the state of the economy in a NY Times opinion column Wednesday.

The billionaire investor remarks on the state of the economy in an opinion column published Wednesday.

Press Release Service – Wired PR News – Warren Buffett has said that although the economy is on the path to recovery, the high debt amassed by the U.S. could lead to inflation. As reported by Reuters, the billionaire investor expressed his views on the state of the economy in Wednesday’s New York Times publication.

Buffett is quoted by Reuters as writing in The New York Times opinion column, “The United States economy is now out of the emergency room and appears to be on a slow path to recovery… But enormous dosages of monetary medicine continue to be administered and, before long, we will need to deal with their side effects. For now, most of those effects are invisible and could indeed remain latent for a long time. Still, their threat may be as ominous as that posed by the financial crisis itself.”

Buffett is further quoted as writing, “Our immediate problem is to get our country back on its feet and flourishing — ‘whatever it takes’ still makes sense” but, “At some point, however, as economic recovery takes hold, we will need to tighten monetary policy to prevent the emergence of an inflation problem down the road.”

The United States deficit is reportedly nearing $1.8 trillion.

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Photo Credit: Wikipedia User Mark Hirschey