Speaking to the AP just before the start of Berkshire Hathaway's annual shareholders meeting in Omaha, Buffett says President Obama's administration is responding to the recession in a countercyclical manner.
But, as is usually the case, Buffett says he can't predict how quickly we'll see improvement in the economy or the financial markets.
Buffett and partner Charlie Munger will be answering questions from shareholders at Omaha's Qwest Center starting about an hour from now.
Current Berkshire stock prices:
Class B: [US;BRK.B 3043.95 -21.05 (-0.69%) ]
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