Buffett says Federal Reserve has boosted stocks

Buffett says Federal Reserve's low rates help stock market, praises Bernanke's leadership

Associated Press

OMAHA, Neb. (AP) -- Investor Warren Buffett says the Federal Reserve's efforts to keep interest rates low have helped the stock market soar, but the improving economy also plays a role.

Buffett appeared Monday morning on the cable channel CNBC after a weekend full of events for Berkshire Hathaway Inc. shareholders.

Buffett says he remains a fan of Fed Chairman Ben Bernanke.

But Buffett says most investors pay too much attention to when the stock market reaches record highs. He says average investors should pay more attention to when stocks hit records in falling prices because that's a sign they are getting cheaper.

Buffett also reiterated his support of JPMorgan Chase Chairman and CEO Jamie Dimon. He says that bank, which he has invested in for his personal portfolio, has the right CEO.

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