Berkshire Hathaway (BRK.A) CEO Warren Buffett said a second, near-term recession in the U.S. is unlikely and said his companies have boosted hiring over the past couple of months, Bloomberg News reported.
Buffett said the U.S. economy "will not have a double-dip recession at all," the wire service reported, citing Buffett's remarks during a keynote speech at the Montana Economic Development Summit earlier Monday.
The billionaire investor, whose company is Wells Fargo & Co.'s (WFC) largest shareholder, cited U.S. banks' growing willingness to lend to small businesses as illustrative of an economy on the mend, Bloomberg reported. Buffett called the lending situation "night and day from a year, year and a half ago," according to Bloomberg.
The Berkshire chief was listed this year by Forbes as the world's third-wealthiest person, whose $47 billion net worth trails only that of Carlos Slim Helu and Bill Gates.