The U.S. unemployment rate could fall to as low as 6% within a few years, famed investor Warren Buffett said Friday.
In an interview with Bloomberg Television, he said the U.S. will "come back big time on employment" when residential construction recovers. An unemployment rate of 6% is possible "within a few years."
The chairman and chief executive of Berkshire Hathaway Corp. (BRKA, BRKB) was asked if the holding company had an acquisition pending. Buffett said none is in the works now but that Berkshire has spent about $4 billion on equities. He wouldn't disclose the names of those companies.
Buffett, who has tended to avoid tech investments, said that while Berkshire has "missed the boat" on the current wave of social-networking offerings, "I don't mind missing boats that I don't know enough [about] to captain." He did say, however, that he'll read the recent IPO regulatory filings by deal provider Groupon Inc. and online-game developer Zynga Inc.
He also was asked about potential acquisitions in other industries, with Bloomberg suggesting Archer Daniels Midland Co. (ADM), General Dynamics Corp. (GD) and Exelon Corp. (EXC). Buffett answered by saying, "Those are the kind of companies we look at, sure."
In an interview with Bloomberg Television, he said the U.S. will "come back big time on employment" when residential construction recovers. An unemployment rate of 6% is possible "within a few years."
The chairman and chief executive of Berkshire Hathaway Corp. (BRKA, BRKB) was asked if the holding company had an acquisition pending. Buffett said none is in the works now but that Berkshire has spent about $4 billion on equities. He wouldn't disclose the names of those companies.
He also was asked about potential acquisitions in other industries, with Bloomberg suggesting Archer Daniels Midland Co. (ADM), General Dynamics Corp. (GD) and Exelon Corp. (EXC). Buffett answered by saying, "Those are the kind of companies we look at, sure."
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