Buffett and Blankfein: US Economy Faces ‘Tough’ Times Ahead

“The U.S. economy is due to face some tough times ahead, say prominent investor Warren Buffett and Goldman Sachs Chief Executive Lloyd Blankfein.

“I think we’re in a tough position for the next three, four, five months,” Blankfein tells MSNBC’s “Morning Joe,” appearing alongside Buffett.

‘We’ve been in a lot tougher position, and the economy is not horrible; it’s just not growing the way it should and there’s just a lot of uncertainty,” Blankfein adds.

The U.S. economy is showing signs of softening. In its latest jobs report, the Bureau of Labor Statistics reported the country added a net 69,000 nonfarm jobs to the economy in May. By comparison, January and February added 275,000 and 259,000 net jobs, respectively.

Meanwhile, gross domestic product grew a lackluster 1.9 percent in the first quarter, down from an initial estimate of 2.2 percent, according to official data.”

Full article