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Buffett: Economy Doesn't Need So Much Coddling

Wed, 03/02/2011 - 3:50am
Josh Funk, AP Business Writer

OMAHA, Neb. (AP) — Billionaire Warren Buffett says the U.S. economy continues to improve and doesn't need as much government help as it is currently getting.

Buffett appeared Wednesday on CNBC four days after releasing his annual letter to Berkshire Hathaway Inc. shareholders.

The CEO says most of the businesses Berkshire owns, except the ones that make housing-related products, continue to inch along and improve.

And he's optimistic about the future because of the strength of the U.S. system.

He says he doesn't think the U.S. economy needs as much monetary or fiscal stimulus as it is getting from the Federal Reserve and government spending.

Berkshire owns roughly 80 subsidiaries, including clothing, furniture, jewelry and corporate jet firms. It also has major investments in such companies as Coca-Cola Co. and Wells Fargo & Co.

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