Warren Buffett Tells CNBC U.S. Inflation is "Exploding"
Warren Buffett says inflation in the U.S. is "exploding" and he urged the Federal Reserve not to signal in any way that controlling prices takes a back seat to encouraging economic growth."
"I think inflation is really picking up... Whether it's steel or oil ... We see it everyplace. It's exploding," Buffett told Becky Quick in a live interview on CNBC's Power Lunch. He spoke ahead of a charity lunch he is hosting in New York City.
Also joked when he said Fed Chairman Bernanke should resign, or was it a Freudian slip? Could be...the truth is Bernanke hasn't a clue and the markets know it. Just look at today...another +100 pts gain dissipates in less the 30 minutes, what a surprise! Expect more of the same or worse tomorrow after the GDP & jobless numbers are released.