Warren Buffett says US economy is ‘red hot’ but warns on inflation

Warren Buffett said the US economy is “red hot” — but warned inflation is a rising threat as businesses and jobs come roaring back.

“Right now, business really is very good in a great many segments of the economy … It’s almost a buying frenzy,” Berkshire Hathaway’s chief executive told shareholders at the company’s annual meeting this weekend. “This has been a very unusual recession.” Over the weekend, the company reported a $12 billion quarterly profit at the virtual event — a massive number that nevertheless fell short of what many investors had hoped for after the past year’s eye-popping stock rally. Berkshire also reported around $7 billion in operating income, up 20 percent from the first quarter of 2020.