Individuals who purchase precious metals might benefit from knowing about the recent input that investment guru Warren Buffett provided on who should be the next chair of the Federal Reserve.
In a recent interview with CNBC, Buffett praised Federal Reserve Chairman Ben Bernanke for the job that he has done thus far. He stated that Bernanke would be his first choice for the next chair of the central bank.
“When you have a .400 hitter in the lineup you don’t take him out,” the investment guru told the news source. “He may want to leave, but I think he’s done – since the panic of five years ago – I think he’s done a terrific job. And I think he ought to get a little bit more of a chance to play out the hand.”
Buffett also asserted that Bernanke took the needed action in the aftermath of the financial crisis, according to Bloomberg News. Those who purchase precious metals might benefit from knowing the perspective that the Oracle of Omaha has in this particular matter, as the robust stimulus provided by the Fed has been credited with bolstering the value of global assets – including gold.