Warren Buffett on Strong Economy: ‘If We’re in the Sixth Inning, We Have Our Sluggers Coming to Bat’

Warren Buffett
AP Photo/Nati Harnik

Berkshire Hathaway chairman Warren Buffett said he remains optimistic about the state of the U.S. economy in the coming years as the economy experiences a boom under the Trump administration.

“Right now, there’s no question: It’s feeling strong. I mean, if we’re in the sixth inning, we have our sluggers coming to bat right now,” Buffett told CNBC Thursday.

Buffett, known as the “Oracle of Omaha” for his prowess in picking successful investments, forecasted that America’s economy would flourish in the coming years based on current trends.

“I’m no good at predicting out two or three or five years from now, although I will say this: There’s no question in my mind that America’s going to be far ahead of where we are now 10, 20 and 30 years from now,” Buffett added. “But right now, business is good. There’s no question about it.”

Despite Buffett’s rosy outlook on the economy, he advised investors to remain cautious about purchasing stocks with a short-term view.

“The decision on the stock market should be made independent of the current business outlook,” Buffett said. “I don’t think you should buy stocks based on what you think the next six months or year is going to bring.”

The U.S. has experienced a jobs boom under the Trump administration. Under Trump, there are now 6.7 million job openings for Americans. The record number of job openings was the highest level on record, according to the Bureau of Labor Statistics. The economy also shows no sign of slowing down in job creation. In May alone, the U.S. economy added 223,000 jobs.

 

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