Buffett talks of new US stimulus

Legendary investor Warren Buffett said yesterday unemployment in the US could hit 11 per cent and a second stimulus package might be needed as the economy struggles to recover from recession. Buffett, the billionaire founder of Berkshire Hathaway, said Americans suffered “a shock to the system” from the economic difficulties in the final quarter of last year but had started to rebound.

“We’re not in a freefall, but we’re not in a recovery either,” he said.