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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 17,888.35 168.43 0.95%
Nasdaq 5,156.31 47.64 0.93%
S&P 500 2,102.63 22.22 1.07%
Treasuries 2.16 -0.06 -2.84%
Data as of 6:50pm ET
Company Price Change % Change
Bank of America Corp... 17.81 0.38 2.18%
General Electric Co 30.17 0.23 0.77%
Pfizer Inc 33.62 0.85 2.59%
Microsoft Corp 55.22 0.87 1.60%
Apple Inc 117.34 -0.96 -0.81%
Data as of 4:02pm ET


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