09/24/2010 // US // TiffNews10 // News Desk
New York – Wealthy investor Warren Buffett recently expressed his views on the U.S. economy, stating that the U.S. was not yet out of a recession. As reported by Reuters, Buffett proposed that contrary to an assessment stating the recession ended over a year ago, the country is still in a downturn that may take some time to get out of.
Buffett is quoted by Reuters as stating to CNBC television, “We’re still in a recession… We’re not gonna be out of it for a while, but we will get out.”
As noted in the report, the National Bureau of Economic Research stated that June 2009 had marked the ending of an 18-month recession, however economic activity had not necessarily resumed as normal. Buffett reportedly stated his definition of recession varied from that of the NBER.
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