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Warren Buffett optimistic U.S. economy will recover after coronavirus

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OMAHA, Neb. — Billionaire investor Warren Buffett doesn’t know how or when the economy will recover from the coronavirus outbreak shutdown, but he remains optimistic in the long-term future of the United States.

Buffett said Saturday at Berkshire Hathaway’s online annual meeting that there’s no way to predict the economic future right now because the possibilities are still too varied. Berkshire’s meeting was held without any of the roughly 40,000 shareholders who typically attend because of the virus.

“We do not know exactly what happens when you voluntarily shut down a substantial portion of your society,” Buffett said because it has never been done. He said it may take several years to understand all the economic implications of the coronavirus outbreak, but it hasn’t changed his long-term view because the country has endured wars and depressions before.

“In the end, the answer is never bet against America,” Buffett said.

It’s not clear how long the virus will continue to weigh on the economy, Buffett said. He said there could still be unpleasant surprises from the virus and the way people react to it.

“You’re dealing with a huge unknown,” Buffett said, so businesses and investors can’t be certain of what

Continue Reading at The Washington Times.



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