Warren Buffet Warns That The D-Day Is Here And Fed Has No More Bullets Left To Stimulate Us Economy. We’ve Kicked It Down The Road For A Long Time; Millions of Taxpayers Is Heading Into An ‘AMT Shock’
November 29th, 2012
The Federal Reserve has “used up its bullets” to stimulate the US economy, Warren Buffet has said, as he warned that “D-Day” was here for politicians to strike a deal to solve the country’s “fiscal cliff” problem.
The billionaire investor said that it was now up to Congress to help boost America’s flagging recovery.
Speaking in an interview broadcast on Radio 4′s Today Programme, he said: “I think [the Fed] has used up its bullets pretty much. When you drive interest rates to zero and when you buy almost a trillion dollars worth of securities and how you start buying longer-term securities — you’ve done your part. I mean, Ben has given up the office.”
Mr Buffett also warned that the deadlock between Republicans and Democrats over a package of tax rises and spending cuts that will take effect in January if politicians fail to reach a deal could go on until the eleventh hour.
“We’ve kicked it down the road for a long time,” said Mr Buffett, “but D-Day is here and that doesn’t mean we’ll get the fiscal cliff problem solved by December 31.