Warren Buffett predicts ‘red hot’ US inflation as economy takes off

Warren Buffett predicts ‘red hot’ US inflation as economy takes off

Billionaire investor Warren Buffett is predicting a “red hot” US recovery from the Covid pandemic, but has warned the economy is being hit by rising inflation.

Mr Buffett, known as the “Sage of Omaha” for his savvy stock picking, said the coronavirus crisis had sparked a highly unusual recession because so many businesses had continued to thrive.

But although he expects a rapid recovery, Mr Buffett also fears that inflation will rapidly pick up in a way that America has not experienced for over a decade.