that, in his opinion, the dollar was the only candidate to be considered the world’s reserve currency at the moment, but also raised concerns about how much the U.S. Federal Reserve could print without putting this reserve currency status in jeopardy.Buffett explained that nobody knew the situation better than Jerome Powell, the President of the U.S. Federal Reserve, but added he was not in charge of the fiscal policy of the country.
Buffett remarked that when people lose faith in the currency, they behave in an entirely different manner than they do when they put some money in the bank or have a pension plan that will give them something with equal purchasing power. This can create other problems for the economy that Buffett concedes he cannot predict fully.America is an incredible society, rich; you know, we got everything going for us, but that doesn’t mean we can just print money indefinitely.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »